Private Trust Co. NA lowered its holdings in Verizon Communications Inc. (NYSE:VZ) by 4.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 51,946 shares of the cell phone carrier’s stock after selling 2,368 shares during the quarter. Private Trust Co. NA’s holdings in Verizon Communications were worth $2,749,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Verizon Communications by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 282,894,542 shares of the cell phone carrier’s stock valued at $12,634,070,000 after acquiring an additional 5,837,702 shares in the last quarter. Capital Research Global Investors lifted its stake in Verizon Communications by 15.1% during the 2nd quarter. Capital Research Global Investors now owns 153,408,016 shares of the cell phone carrier’s stock valued at $6,851,202,000 after acquiring an additional 20,070,391 shares in the last quarter. FMR LLC lifted its stake in Verizon Communications by 15.0% during the 2nd quarter. FMR LLC now owns 61,833,096 shares of the cell phone carrier’s stock valued at $2,761,466,000 after acquiring an additional 8,077,275 shares in the last quarter. Legal & General Group Plc lifted its stake in Verizon Communications by 2.7% during the 3rd quarter. Legal & General Group Plc now owns 24,495,234 shares of the cell phone carrier’s stock valued at $1,212,227,000 after acquiring an additional 636,014 shares in the last quarter. Finally, Franklin Resources Inc. lifted its stake in Verizon Communications by 19.9% during the 2nd quarter. Franklin Resources Inc. now owns 21,820,729 shares of the cell phone carrier’s stock valued at $974,515,000 after acquiring an additional 3,623,182 shares in the last quarter. 64.37% of the stock is owned by institutional investors and hedge funds.
In related news, SVP Anthony T. Skiadas sold 6,967 shares of Verizon Communications stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $49.80, for a total value of $346,956.60. Following the completion of the sale, the senior vice president now owns 16,059 shares of the company’s stock, valued at approximately $799,738.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.13% of the company’s stock.
Shares of Verizon Communications Inc. (NYSE VZ) opened at $48.80 on Tuesday. Verizon Communications Inc. has a twelve month low of $42.80 and a twelve month high of $54.77. The firm has a market capitalization of $199,080.00, a PE ratio of 15.02, a P/E/G ratio of 1.99 and a beta of 0.67. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.54.
Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Tuesday, January 23rd. The cell phone carrier reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.02). Verizon Communications had a return on equity of 48.97% and a net margin of 23.88%. The firm had revenue of $33.96 billion during the quarter, compared to analysts’ expectations of $33.20 billion. During the same period last year, the business posted $0.86 EPS. The company’s revenue was up 2.2% compared to the same quarter last year. analysts forecast that Verizon Communications Inc. will post 4.55 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Investors of record on Tuesday, April 10th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 4.84%. The ex-dividend date is Monday, April 9th. Verizon Communications’s dividend payout ratio (DPR) is currently 72.62%.
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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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