Curbstone Financial Management Corp decreased its position in Verizon Communications Inc. (NYSE:VZ) by 4.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,605 shares of the cell phone carrier’s stock after selling 1,344 shares during the period. Curbstone Financial Management Corp’s holdings in Verizon Communications were worth $1,394,000 as of its most recent filing with the SEC.
Other large investors have also recently bought and sold shares of the company. Guidant Wealth Advisors acquired a new stake in Verizon Communications during the third quarter worth about $107,000. Sunbelt Securities Inc. purchased a new stake in shares of Verizon Communications during the fourth quarter worth approximately $115,000. Ruggie Capital Group increased its stake in shares of Verizon Communications by 0.3% in the third quarter. Ruggie Capital Group now owns 2,649 shares of the cell phone carrier’s stock worth $137,000 after buying an additional 9 shares in the last quarter. Tortoise Investment Management LLC increased its stake in shares of Verizon Communications by 35.3% in the fourth quarter. Tortoise Investment Management LLC now owns 2,609 shares of the cell phone carrier’s stock worth $139,000 after buying an additional 680 shares in the last quarter. Finally, Northwest Quadrant Wealth Management LLC purchased a new stake in shares of Verizon Communications during the fourth quarter worth approximately $155,000. 63.38% of the stock is owned by institutional investors.
Shares of Verizon Communications Inc. (NYSE:VZ) traded up 0.455% on Friday, reaching $45.245. The company had a trading volume of 4,954,368 shares. The company has a market capitalization of $184.57 billion, a PE ratio of 15.132 and a beta of 0.43. Verizon Communications Inc. has a one year low of $44.46 and a one year high of $56.95. The company’s 50-day moving average is $47.30 and its 200-day moving average is $49.45.
Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Thursday, April 20th. The cell phone carrier reported $0.95 EPS for the quarter, missing the consensus estimate of $0.98 by $0.03. The firm had revenue of $29.81 billion for the quarter, compared to the consensus estimate of $30.41 billion. Verizon Communications had a net margin of 10.42% and a return on equity of 72.75%. The business’s revenue was down 7.3% on a year-over-year basis. During the same period last year, the company posted $1.06 earnings per share. Equities research analysts predict that Verizon Communications Inc. will post $3.77 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, May 1st. Stockholders of record on Monday, April 10th were paid a dividend of $0.5775 per share. This represents a $2.31 annualized dividend and a dividend yield of 5.13%. The ex-dividend date was Thursday, April 6th. Verizon Communications’s dividend payout ratio (DPR) is 71.74%.
VZ has been the subject of several analyst reports. Zacks Investment Research downgraded Verizon Communications from a “hold” rating to a “sell” rating in a research report on Tuesday, April 4th. Vetr upgraded Verizon Communications from a “hold” rating to a “buy” rating and set a $52.98 price objective for the company in a research report on Tuesday, January 24th. Evercore ISI began coverage on Verizon Communications in a research report on Monday, January 30th. They issued a “hold” rating and a $53.00 price objective for the company. Pacific Crest reissued an “equal weight” rating on shares of Verizon Communications in a research note on Tuesday, January 24th. Finally, Barclays PLC decreased their price objective on Verizon Communications from $53.00 to $52.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 25th. Twenty-four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $53.57.
In other Verizon Communications news, EVP Marni M. Walden sold 32,254 shares of the company’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $49.92, for a total value of $1,610,119.68. Following the sale, the executive vice president now owns 28,159 shares in the company, valued at $1,405,697.28. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Roger Gurnani sold 10,804 shares of the stock in a transaction that occurred on Thursday, February 23rd. The shares were sold at an average price of $50.29, for a total transaction of $543,333.16. Following the sale, the executive vice president now owns 63,734 shares in the company, valued at approximately $3,205,182.86. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 60,640 shares of company stock valued at $2,966,596. Insiders own 0.10% of the company’s stock.
About Verizon Communications
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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