Davis R M Inc. lessened its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 10.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,916 shares of the cell phone carrier’s stock after selling 3,884 shares during the quarter. Davis R M Inc.’s holdings in Verizon Communications were worth $1,689,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in VZ. Legacy Advisors LLC bought a new position in Verizon Communications in the 3rd quarter valued at about $132,000. Shine Investment Advisory Services Inc. lifted its position in Verizon Communications by 190.9% in the 3rd quarter. Shine Investment Advisory Services Inc. now owns 2,705 shares of the cell phone carrier’s stock valued at $134,000 after acquiring an additional 1,775 shares in the last quarter. Private Vista LLC lifted its position in Verizon Communications by 3,339.1% in the 2nd quarter. Private Vista LLC now owns 389,552 shares of the cell phone carrier’s stock valued at $143,000 after acquiring an additional 378,225 shares in the last quarter. Mountain Capital Investment Advisors Inc bought a new position in Verizon Communications in the 2nd quarter valued at about $156,000. Finally, Regal Wealth Group Inc. increased its stake in Verizon Communications by 0.7% in the 2nd quarter. Regal Wealth Group Inc. now owns 3,682 shares of the cell phone carrier’s stock valued at $164,000 after buying an additional 24 shares during the last quarter. 64.37% of the stock is currently owned by institutional investors.
Several equities research analysts have commented on the stock. Bank of America increased their price objective on shares of Verizon Communications from $55.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday, January 24th. HSBC lowered shares of Verizon Communications from a “buy” rating to a “hold” rating and decreased their price objective for the company from $54.83 to $42.80 in a research note on Thursday, December 14th. They noted that the move was a valuation call. Vetr upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $54.80 price objective for the company in a research note on Monday, February 5th. Howard Weil upgraded shares of Verizon Communications from a “sector perform” rating to a “sector outperform” rating in a research note on Monday, January 22nd. Finally, Nomura increased their price objective on shares of Verizon Communications from $61.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $53.45.
Shares of Verizon Communications Inc. (VZ) opened at $48.80 on Tuesday. The company has a debt-to-equity ratio of 2.54, a quick ratio of 0.87 and a current ratio of 0.91. Verizon Communications Inc. has a one year low of $42.80 and a one year high of $54.77. The stock has a market cap of $199,080.00, a P/E ratio of 15.02, a PEG ratio of 1.99 and a beta of 0.67.
Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Tuesday, January 23rd. The cell phone carrier reported $0.86 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 company had revenue of $33.96 billion for the quarter, compared to analysts’ expectations of $33.20 billion. During the same quarter in the previous year, the business earned $0.86 EPS. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. research analysts expect that Verizon Communications Inc. will post 4.55 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Tuesday, April 10th will be paid a dividend of $0.59 per share. The ex-dividend date is Monday, April 9th. This represents a $2.36 annualized dividend and a dividend yield of 4.84%. Verizon Communications’s payout ratio is currently 72.62%.
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Verizon Communications 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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