Graybill Bartz & Assoc Ltd. grew its position in shares of Verizon Communications Inc. (NYSE:VZ) by 4.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 75,441 shares of the cell phone carrier’s stock after purchasing an additional 3,170 shares during the period. Verizon Communications makes up about 2.9% of Graybill Bartz & Assoc Ltd.’s holdings, making the stock its 8th largest holding. Graybill Bartz & Assoc Ltd.’s holdings in Verizon Communications were worth $3,993,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in VZ. Beach Investment Management LLC. acquired a new position in Verizon Communications during the second quarter worth $4,320,000. State of Wisconsin Investment Board lifted its stake in Verizon Communications by 22.7% during the second quarter. State of Wisconsin Investment Board now owns 4,931,243 shares of the cell phone carrier’s stock worth $220,229,000 after purchasing an additional 913,460 shares in the last quarter. NewSquare Capital LLC lifted its stake in Verizon Communications by 7.6% during the second quarter. NewSquare Capital LLC now owns 26,598 shares of the cell phone carrier’s stock worth $1,188,000 after purchasing an additional 1,883 shares in the last quarter. Horan Capital Advisors LLC. raised its stake in shares of Verizon Communications by 3.1% in the second quarter. Horan Capital Advisors LLC. now owns 72,815 shares of the cell phone carrier’s stock valued at $3,252,000 after acquiring an additional 2,188 shares in the last quarter. Finally, Alps Advisors Inc. raised its stake in shares of Verizon Communications by 5.2% in the second quarter. Alps Advisors Inc. now owns 1,018,021 shares of the cell phone carrier’s stock valued at $45,465,000 after acquiring an additional 50,602 shares in the last quarter. Institutional investors own 64.37% of the company’s stock.
In other Verizon Communications news, SVP Anthony T. Skiadas sold 6,967 shares of the firm’s stock in a transaction 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 sale, the senior vice president now directly owns 16,059 shares in the company, valued at $799,738.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.13% of the stock is owned by company insiders.
Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Tuesday, January 23rd. The cell phone carrier reported $0.86 earnings per share 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 business had revenue of $33.96 billion during the quarter, compared to analyst estimates of $33.20 billion. During the same quarter in the prior year, the business earned $0.86 earnings per share. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. equities research analysts predict that Verizon Communications Inc. will post 4.55 EPS for the current year.
The firm 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. This represents a $2.36 dividend on an annualized basis and a yield of 4.84%. The ex-dividend date is Monday, April 9th. Verizon Communications’s dividend payout ratio is presently 72.62%.
VZ has been the topic of several analyst reports. Nomura upgraded Verizon Communications from a “neutral” rating to a “buy” rating and increased their price objective for the company from $47.00 to $61.00 in a research note on Tuesday, December 12th. Vetr upgraded Verizon Communications from a “hold” rating to a “buy” rating and set a $54.80 price objective on the stock in a research note on Monday, February 5th. KeyCorp increased their price objective on Verizon Communications from $50.00 to $53.00 and gave the company a “sector weight” rating in a research note on Tuesday, January 2nd. Moffett Nathanson upgraded Verizon Communications from a “neutral” rating to a “buy” rating in a research note on Wednesday, February 28th. Finally, ValuEngine upgraded Verizon Communications from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and ten have given a buy rating to the stock. Verizon Communications currently has an average rating of “Hold” and a consensus target price of $53.45.
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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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