Verizon Communications (VZ) Shares Bought by Physicians Financial Services Inc.

Physicians Financial Services Inc. boosted its position in shares of Verizon Communications (NYSE:VZ) by 80.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 54,361 shares of the cell phone carrier’s stock after purchasing an additional 24,239 shares during the period. Verizon Communications accounts for 2.2% of Physicians Financial Services Inc.’s investment portfolio, making the stock its 14th biggest holding. Physicians Financial Services Inc.’s holdings in Verizon Communications were worth $2,877,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of VZ. Boston Partners grew its holdings in shares of Verizon Communications by 1,252.0% during the 4th quarter. Boston Partners now owns 7,986,475 shares of the cell phone carrier’s stock valued at $422,724,000 after acquiring an additional 7,395,776 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Verizon Communications by 14.1% during the 4th quarter. Bank of New York Mellon Corp now owns 48,749,993 shares of the cell phone carrier’s stock valued at $2,580,337,000 after acquiring an additional 6,007,544 shares in the last quarter. Stifel Financial Corp grew its holdings in shares of Verizon Communications by 7,639.8% during the 3rd quarter. Stifel Financial Corp now owns 3,877,541 shares of the cell phone carrier’s stock valued at $191,847,000 after acquiring an additional 3,827,442 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Verizon Communications by 0.8% during the 4th quarter. BlackRock Inc. now owns 265,904,768 shares of the cell phone carrier’s stock valued at $14,074,340,000 after acquiring an additional 2,236,290 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of Verizon Communications by 10.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 17,579,829 shares of the cell phone carrier’s stock valued at $870,808,000 after acquiring an additional 1,606,984 shares in the last quarter. Hedge funds and other institutional investors own 64.10% of the company’s stock.

In other Verizon Communications news, SVP Anthony T. Skiadas sold 1,974 shares of the business’s stock in a transaction on Tuesday, May 1st. The shares were sold at an average price of $49.44, for a total transaction of $97,594.56. Following the completion of the transaction, the senior vice president now owns 16,060 shares of the company’s stock, valued at approximately $794,006.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.09% of the stock is owned by insiders.

Verizon Communications stock opened at $47.85 on Friday. The firm has a market cap of $197.28 billion, a price-to-earnings ratio of 12.79, a PEG ratio of 1.91 and a beta of 0.62. The company has a debt-to-equity ratio of 2.15, a current ratio of 0.98 and a quick ratio of 0.94. Verizon Communications has a fifty-two week low of $47.65 and a fifty-two week high of $48.02.

Verizon Communications (NYSE:VZ) last released its earnings results on Tuesday, April 24th. The cell phone carrier reported $1.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.06. The firm had revenue of $31.77 billion during the quarter, compared to analyst estimates of $31.25 billion. Verizon Communications had a net margin of 24.37% and a return on equity of 42.62%. The business’s revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.95 EPS. equities analysts forecast that Verizon Communications will post 4.57 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 1st. Shareholders of record on Tuesday, April 10th were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 4.93%. The ex-dividend date was Monday, April 9th. Verizon Communications’s dividend payout ratio is 63.10%.

Several equities analysts have recently commented on VZ shares. Scotiabank upgraded shares of Verizon Communications from a “sector perform” rating to a “buy” rating and set a $60.00 price target on the stock in a report on Monday, January 22nd. Moffett Nathanson upgraded shares of Verizon Communications from a “neutral” rating to a “buy” rating in a report on Wednesday, February 28th. Vetr cut shares of Verizon Communications from a “strong-buy” rating to a “buy” rating and set a $54.24 price target on the stock. in a report on Tuesday, February 27th. Nomura boosted their price target on shares of Verizon Communications from $61.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. Finally, Bank of America boosted their price target on shares of Verizon Communications from $55.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and sixteen have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $54.75.

Verizon Communications Profile

Verizon Communications Inc, through its subsidiaries, offers communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company's Wireless segment provides wireless voice and data services; Internet access on various notebook computers and tablets; multimedia, business-focused, and location-based services, as well as international travel services; and network access services to deliver various Internet of Things products and services.

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

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