E&G Advisors LP reduced its holdings in Verizon Communications Inc. (NYSE:VZ) by 17.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,338 shares of the cell phone carrier’s stock after selling 4,397 shares during the period. E&G Advisors LP’s holdings in Verizon Communications were worth $1,076,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Legacy Advisors LLC purchased a new stake in Verizon Communications during the third quarter worth $132,000. Shine Investment Advisory Services Inc. boosted its holdings in Verizon Communications by 190.9% during the third quarter. Shine Investment Advisory Services Inc. now owns 2,705 shares of the cell phone carrier’s stock worth $134,000 after buying an additional 1,775 shares in the last quarter. Private Vista LLC boosted its holdings in Verizon Communications by 3,339.1% during the second quarter. Private Vista LLC now owns 389,552 shares of the cell phone carrier’s stock worth $143,000 after buying an additional 378,225 shares in the last quarter. Mountain Capital Investment Advisors Inc purchased a new stake in Verizon Communications during the second quarter worth $156,000. Finally, Regal Wealth Group Inc. boosted its holdings in Verizon Communications by 0.7% during the second quarter. Regal Wealth Group Inc. now owns 3,682 shares of the cell phone carrier’s stock worth $164,000 after buying an additional 24 shares in the last quarter. 64.37% of the stock is currently owned by institutional investors and hedge funds.
In other news, SVP Anthony T. Skiadas sold 6,967 shares of the stock in a transaction dated Tuesday, February 13th. The shares were 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 directly owns 16,059 shares in the company, valued at $799,738.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.13% of the stock is owned by corporate insiders.
Shares of Verizon Communications Inc. (NYSE:VZ) opened at $48.65 on Wednesday. The company has a market cap of $198,470.00, a PE ratio of 14.97, a PEG ratio of 1.99 and a beta of 0.67. The company has a debt-to-equity ratio of 2.54, a current ratio of 0.91 and a quick ratio of 0.87. Verizon Communications Inc. has a 12-month low of $42.80 and a 12-month high of $54.77.
Verizon Communications (NYSE:VZ) last issued its earnings results on Tuesday, January 23rd. The cell phone carrier reported $0.86 EPS for the quarter, missing the Zacks’ consensus estimate of $0.88 by ($0.02). The business had revenue of $33.96 billion during the quarter, compared to analyst estimates of $33.20 billion. Verizon Communications had a net margin of 23.88% and a return on equity of 48.97%. Verizon Communications’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the company earned $0.86 earnings per share. sell-side analysts anticipate that Verizon Communications Inc. will post 4.55 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Tuesday, April 10th will be given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.85%. The ex-dividend date of this dividend is Monday, April 9th. Verizon Communications’s dividend payout ratio (DPR) is 72.62%.
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.
Want to see what other hedge funds are holding VZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Verizon Communications Inc. (NYSE:VZ).
Receive News & Ratings for Verizon Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verizon Communications and related companies with MarketBeat.com's FREE daily email newsletter.