Graybill Bartz & Assoc Ltd. grew its position in shares of Verizon Communications Inc. (NYSE:VZ) by 4.4% during the 4th quarter, Holdings Channel reports. The firm owned 75,441 shares of the cell phone carrier’s stock after buying an additional 3,170 shares during the quarter. Verizon Communications makes up approximately 2.9% of Graybill Bartz & Assoc Ltd.’s portfolio, making the stock its 8th largest holding. Graybill Bartz & Assoc Ltd.’s holdings in Verizon Communications were worth $3,993,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of the business. 440 Investment Group LLC purchased a new position in shares of Verizon Communications during the fourth quarter worth about $281,000. Gemmer Asset Management LLC grew its holdings in shares of Verizon Communications by 23.1% during the fourth quarter. Gemmer Asset Management LLC now owns 29,681 shares of the cell phone carrier’s stock worth $1,571,000 after purchasing an additional 5,579 shares during the last quarter. SPC Financial Inc. grew its holdings in shares of Verizon Communications by 9.7% during the fourth quarter. SPC Financial Inc. now owns 29,199 shares of the cell phone carrier’s stock worth $1,546,000 after purchasing an additional 2,570 shares during the last quarter. BLB&B Advisors LLC grew its holdings in shares of Verizon Communications by 3.8% during the fourth quarter. BLB&B Advisors LLC now owns 222,674 shares of the cell phone carrier’s stock worth $11,786,000 after purchasing an additional 8,081 shares during the last quarter. Finally, Access Financial Services Inc. grew its holdings in shares of Verizon Communications by 14.6% during the fourth quarter. Access Financial Services Inc. now owns 12,413 shares of the cell phone carrier’s stock worth $657,000 after purchasing an additional 1,579 shares during the last quarter. 64.37% of the stock is currently owned by institutional investors.
In other Verizon Communications news, SVP Anthony T. Skiadas sold 6,967 shares of Verizon Communications stock in a transaction that occurred 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 owns 16,059 shares of the company’s stock, valued at approximately $799,738.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.13% of the stock is currently owned by insiders.
Several equities analysts have issued reports on the company. Zacks Investment Research lowered Verizon Communications from a “buy” rating to a “hold” rating in a report on Monday. Vetr lowered Verizon Communications from a “strong-buy” rating to a “buy” rating and set a $54.24 price objective on the stock. in a report on Tuesday, March 6th. Moffett Nathanson raised Verizon Communications from a “neutral” rating to a “buy” rating in a report on Wednesday, February 28th. Nomura raised their price target on Verizon Communications from $61.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, January 24th. Finally, JPMorgan Chase & Co. raised their price target on Verizon Communications from $52.00 to $58.00 and gave the stock a “neutral” rating in a report on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and ten have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $53.45.
Shares of Verizon Communications Inc. (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 P/E ratio of 15.02, a price-to-earnings-growth 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 (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 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 analysts’ expectations of $33.20 billion. During the same period in the prior year, the firm posted $0.86 EPS. Verizon Communications’s revenue for the quarter was up 2.2% compared to the same quarter last year. equities research analysts forecast that Verizon Communications Inc. will post 4.55 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Shareholders of record on Tuesday, April 10th will be issued 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%.
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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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