Capital Analysts LLC decreased its position in Verizon Communications Inc. (NYSE:VZ) by 0.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 70,036 shares of the cell phone carrier’s stock after selling 167 shares during the period. Verizon Communications comprises 0.7% of Capital Analysts LLC’s investment portfolio, making the stock its 26th largest position. Capital Analysts LLC’s holdings in Verizon Communications were worth $3,739,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the company. FMR LLC raised its position in shares of Verizon Communications by 17.9% in the fourth quarter. FMR LLC now owns 48,743,437 shares of the cell phone carrier’s stock worth $2,601,925,000 after buying an additional 7,388,078 shares during the period. Federated Investors Inc. PA raised its position in Verizon Communications by 4.1% in the fourth quarter. Federated Investors Inc. PA now owns 21,166,107 shares of the cell phone carrier’s stock valued at $1,129,847,000 after buying an additional 825,524 shares during the last quarter. Glenview Trust Co purchased a new position in Verizon Communications during the fourth quarter valued at about $19,254,000. Barber Financial Group Inc. purchased a new position in Verizon Communications during the fourth quarter valued at about $261,000. Finally, United Bank purchased a new position in Verizon Communications during the fourth quarter valued at about $2,296,000. Institutional investors own 63.38% of the company’s stock.
Shares of Verizon Communications Inc. (NYSE:VZ) opened at 50.24 on Tuesday. The firm’s 50-day moving average is $49.26 and its 200 day moving average is $50.48. Verizon Communications Inc. has a 12 month low of $46.01 and a 12 month high of $56.95. The stock has a market cap of $204.81 billion, a PE ratio of 15.65 and a beta of 0.43.
Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Tuesday, January 24th. The cell phone carrier reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.89 by $0.03. Verizon Communications had a net margin of 10.42% and a return on equity of 72.75%. The firm had revenue of $32.30 billion for the quarter, compared to analysts’ expectations of $32.12 billion. During the same period in the prior year, the firm earned $0.89 EPS. Verizon Communications’s revenue for the quarter was down 5.6% compared to the same quarter last year. On average, equities analysts predict that Verizon Communications Inc. will post $3.85 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, May 1st. Stockholders of record on Monday, April 10th will be issued a $0.5775 dividend. This represents a $2.31 annualized dividend and a dividend yield of 4.60%. The ex-dividend date is Thursday, April 6th. Verizon Communications’s dividend payout ratio (DPR) is presently 71.74%.
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Several equities research analysts have weighed in on VZ shares. Vetr downgraded shares of Verizon Communications from a “buy” rating to a “hold” rating and set a $51.51 price target for the company. in a research note on Monday. Wells Fargo & Co downgraded shares of Verizon Communications from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $56.95 to $54.00 in a research report on Monday, January 23rd. Jefferies Group LLC reissued a “hold” rating and set a $53.00 target price on shares of Verizon Communications in a research report on Monday, January 16th. HSBC Holdings plc raised shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a research report on Thursday, January 19th. Finally, Citigroup Inc reissued a “buy” rating on shares of Verizon Communications in a research report on Tuesday, January 24th. One equities research analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and seven have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $54.53.
In other news, EVP Roger Gurnani sold 10,804 shares of the business’s stock in a transaction on Thursday, February 23rd. The shares were sold at an average price of $50.29, for a total value of $543,333.16. Following the transaction, the executive vice president now owns 63,734 shares of the company’s stock, valued at $3,205,182.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Anthony T. Skiadas sold 12,495 shares of the business’s stock in a transaction on Tuesday, February 14th. The stock was sold at an average price of $48.27, for a total transaction of $603,133.65. Following the completion of the transaction, the senior vice president now directly owns 16,058 shares in the company, valued at approximately $775,119.66. The disclosure for this sale can be found here. Insiders sold 55,553 shares of company stock worth $2,756,586 in the last three months. Insiders own 0.10% of the company’s stock.
About Verizon Communications
Verizon Communications Inc (Verizon) is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. The Company offers voice, data and video services and solutions on its wireless and wireline networks.
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