Middleton & Co Inc MA Has $10.80 Million Stake in Verizon Communications Inc. (VZ)

Middleton & Co Inc MA grew its stake in Verizon Communications Inc. (NYSE:VZ) by 1.1% in the 4th quarter, HoldingsChannel reports. The fund owned 192,094 shares of the cell phone carrier’s stock after purchasing an additional 2,065 shares during the quarter. Verizon Communications makes up 2.0% of Middleton & Co Inc MA’s holdings, making the stock its 13th largest holding. Middleton & Co Inc MA’s holdings in Verizon Communications were worth $10,799,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Daiwa SB Investments Ltd. grew its holdings in shares of Verizon Communications by 120.0% in the 4th quarter. Daiwa SB Investments Ltd. now owns 880 shares of the cell phone carrier’s stock valued at $49,000 after acquiring an additional 480 shares in the last quarter. Cascade Investment Advisors Inc. grew its holdings in shares of Verizon Communications by 21.5% in the 4th quarter. Cascade Investment Advisors Inc. now owns 1,033 shares of the cell phone carrier’s stock valued at $58,000 after acquiring an additional 183 shares in the last quarter. Advisors Preferred LLC bought a new position in Verizon Communications during the fourth quarter worth about $66,000. Advocacy Wealth Management Services LLC grew its holdings in Verizon Communications by 25.9% during the fourth quarter. Advocacy Wealth Management Services LLC now owns 1,265 shares of the cell phone carrier’s stock worth $71,000 after purchasing an additional 260 shares during the period. Finally, Lenox Wealth Management Inc. grew its holdings in Verizon Communications by 89.0% during the fourth quarter. Lenox Wealth Management Inc. now owns 1,482 shares of the cell phone carrier’s stock worth $83,000 after purchasing an additional 698 shares during the period. Institutional investors own 67.12% of the company’s stock.

Verizon Communications stock opened at $59.50 on Wednesday. Verizon Communications Inc. has a 52 week low of $47.13 and a 52 week high of $61.58. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.87 and a quick ratio of 0.83. The stock has a market cap of $243.22 billion, a P/E ratio of 12.63, a price-to-earnings-growth ratio of 3.03 and a beta of 0.48.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Tuesday, April 23rd. The cell phone carrier reported $1.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.17 by $0.03. The firm had revenue of $32.13 billion during the quarter, compared to the consensus estimate of $32.13 billion. Verizon Communications had a net margin of 12.20% and a return on equity of 35.40%. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period last year, the business posted $1.17 earnings per share. As a group, sell-side analysts predict that Verizon Communications Inc. will post 4.75 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th were given a dividend of $0.6025 per share. The ex-dividend date was Tuesday, April 9th. This represents a $2.41 annualized dividend and a yield of 4.05%. Verizon Communications’s dividend payout ratio (DPR) is presently 51.17%.

A number of equities analysts recently commented on VZ shares. ValuEngine cut Verizon Communications from a “buy” rating to a “hold” rating in a report on Tuesday, January 29th. Zacks Investment Research cut Verizon Communications from a “buy” rating to a “hold” rating in a report on Thursday, May 16th. Goldman Sachs Group reiterated a “buy” rating and set a $65.00 price target on shares of Verizon Communications in a report on Tuesday, April 23rd. Bank of America set a $64.00 price target on Verizon Communications and gave the stock a “buy” rating in a report on Tuesday, April 23rd. Finally, Royal Bank of Canada reiterated a “neutral” rating and set a $57.00 price target on shares of Verizon Communications in a report on Tuesday, April 23rd. Ten equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $57.76.

In other Verizon Communications news, EVP Craig L. Silliman sold 1,349 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $57.12, for a total transaction of $77,054.88. Following the completion of the sale, the executive vice president now directly owns 25,549 shares in the company, valued at $1,459,358.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lowell C. Mcadam sold 285,988 shares of the firm’s stock in a transaction that occurred on Tuesday, February 26th. The stock was sold at an average price of $56.72, for a total transaction of $16,221,239.36. Following the sale, the director now owns 362,932 shares of the company’s stock, valued at $20,585,503.04. The disclosure for this sale can be found here. Insiders have sold 296,169 shares of company stock valued at $16,805,577 over the last 90 days. Company insiders own 0.03% of the company’s stock.

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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; international travel wireless services; and network access services to deliver various Internet of Things products and services, as well as offers digital advertising and digital media services platforms.

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

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