Profit Investment Management LLC boosted its position in Verizon Communications Inc. (NYSE:VZ) by 43.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,458 shares of the cell phone carrier’s stock after acquiring an additional 7,749 shares during the quarter. Profit Investment Management LLC’s holdings in Verizon Communications were worth $1,347,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vantage Financial Partners Ltd. Inc. purchased a new stake in Verizon Communications during the second quarter valued at about $623,000. Shine Investment Advisory Services Inc. boosted its position 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 valued at $134,000 after buying an additional 1,775 shares during the period. Legacy Advisors LLC purchased a new stake in Verizon Communications during the third quarter valued at about $132,000. Mountain Capital Investment Advisors Inc purchased a new stake in Verizon Communications during the second quarter valued at about $156,000. Finally, Regal Wealth Group Inc. boosted its position 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 valued at $164,000 after buying an additional 24 shares during the period. 64.37% of the stock is currently owned by institutional investors and hedge funds.
In related 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 transaction, the senior vice president now directly owns 16,059 shares of the company’s stock, valued at $799,738.20. The transaction was disclosed in a legal filing with the SEC, 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 debt-to-equity ratio of 2.54, a quick ratio of 0.87 and a current ratio of 0.91. The firm 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. Verizon Communications Inc. has a 1-year low of $42.80 and a 1-year high of $54.77.
Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Tuesday, January 23rd. The cell phone carrier reported $0.86 earnings per share (EPS) for the quarter, missing the Zacks’ 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 during the quarter, compared to the consensus estimate of $33.20 billion. During the same period in the previous year, the company earned $0.86 earnings per share. Verizon Communications’s quarterly revenue was up 2.2% on a year-over-year basis. research analysts predict that Verizon Communications Inc. will post 4.55 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 1st. Investors 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 4.85%. The ex-dividend date of this dividend is Monday, April 9th. Verizon Communications’s payout ratio 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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