Fisher Asset Management LLC Has $21.14 Million Holdings in Verizon Communications Inc. (VZ)

Fisher Asset Management LLC decreased its stake in Verizon Communications Inc. (NYSE:VZ) by 10.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 399,445 shares of the cell phone carrier’s stock after selling 48,874 shares during the quarter. Fisher Asset Management LLC’s holdings in Verizon Communications were worth $21,143,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in VZ. Vantage Financial Partners Ltd. Inc. acquired a new stake in shares of Verizon Communications during the second quarter worth about $623,000. Shine Investment Advisory Services Inc. raised its position in shares of Verizon Communications by 190.9% during the third quarter. Shine Investment Advisory Services Inc. now owns 2,705 shares of the cell phone carrier’s stock worth $134,000 after purchasing an additional 1,775 shares during the period. Legacy Advisors LLC acquired a new stake in shares of Verizon Communications during the third quarter worth about $132,000. Mountain Capital Investment Advisors Inc acquired a new stake in shares of Verizon Communications during the second quarter worth about $156,000. Finally, Regal Wealth Group Inc. raised its position in shares of Verizon Communications by 0.7% during the second quarter. Regal Wealth Group Inc. now owns 3,682 shares of the cell phone carrier’s stock worth $164,000 after purchasing an additional 24 shares during the period. 63.98% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Verizon Communications stock opened at $46.29 on Friday. Verizon Communications Inc. has a 1 year low of $42.80 and a 1 year high of $54.77. The stock has a market capitalization of $193,518.95, a P/E ratio of 6.29, a P/E/G ratio of 1.90 and a beta of 0.68. The company has a debt-to-equity ratio of 2.54, a current ratio of 0.91 and a quick ratio of 0.87.

Verizon Communications (NYSE:VZ) last announced its earnings results on Tuesday, January 23rd. The cell phone carrier reported $0.86 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.88 by ($0.02). Verizon Communications had a net margin of 23.88% and a return on equity of 48.97%. The firm had revenue of $33.96 billion during the quarter, compared to analyst estimates of $33.20 billion. During the same period in the prior year, the business posted $0.86 EPS. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. equities analysts expect that Verizon Communications Inc. will post 4.55 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 1st. Shareholders of record on Tuesday, April 10th will be paid a $0.59 dividend. The ex-dividend date is Monday, April 9th. This represents a $2.36 dividend on an annualized basis and a yield of 5.10%. Verizon Communications’s dividend payout ratio is 32.07%.

A number of research firms have recently commented on VZ. Vetr raised Verizon Communications from a “buy” rating to a “strong-buy” rating and set a $53.82 price target on the stock in a research report on Tuesday, March 20th. Guggenheim began coverage on Verizon Communications in a research report on Tuesday, March 13th. They set a “buy” rating and a $58.00 price target on the stock. Zacks Investment Research lowered Verizon Communications from a “buy” rating to a “hold” rating in a research report on Monday, March 12th. Moffett Nathanson raised Verizon Communications from a “neutral” rating to a “buy” rating in a research report on Wednesday, February 28th. Finally, Nomura raised their price target on Verizon Communications from $61.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $53.66.

In other Verizon Communications news, SVP Anthony T. Skiadas sold 6,967 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $49.80, for a total value of $346,956.60. Following the completion of the transaction, the senior vice president now directly owns 16,059 shares in the company, valued at $799,738.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.13% of the stock is owned by company insiders.

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Verizon Communications Company Profile

Verizon Communications Inc is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. Its segments include Wireless and Wireline. The Wireless segment offers communications products and services, including wireless voice and data services and equipment sales, to consumer, business and government customers across the United States.

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Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

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