F&V Capital Management LLC increased its stake in Verizon Communications Inc. (NYSE:VZ) by 5.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 169,991 shares of the cell phone carrier’s stock after purchasing an additional 8,590 shares during the period. Verizon Communications accounts for about 4.7% of F&V Capital Management LLC’s portfolio, making the stock its 4th largest position. F&V Capital Management LLC’s holdings in Verizon Communications were worth $8,998,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Regal Wealth Group Inc. lifted its position in Verizon Communications by 0.7% in 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 last quarter. Glassman Wealth Services lifted its position in shares of Verizon Communications by 0.4% during the second quarter. Glassman Wealth Services now owns 7,719 shares of the cell phone carrier’s stock worth $345,000 after purchasing an additional 31 shares in the last quarter. Camden National Bank lifted its position in shares of Verizon Communications by 0.7% during the second quarter. Camden National Bank now owns 4,972 shares of the cell phone carrier’s stock worth $222,000 after purchasing an additional 37 shares in the last quarter. DF Dent & Co. Inc. lifted its position in shares of Verizon Communications by 0.6% during the second quarter. DF Dent & Co. Inc. now owns 8,506 shares of the cell phone carrier’s stock worth $380,000 after purchasing an additional 50 shares in the last quarter. Finally, Aureus Asset Management LLC increased its stake in shares of Verizon Communications by 0.6% during the second quarter. Aureus Asset Management LLC now owns 11,190 shares of the cell phone carrier’s stock worth $500,000 after buying an additional 70 shares during the period. Institutional investors and hedge funds own 64.37% of the company’s stock.
In related news, SVP Anthony T. Skiadas sold 6,967 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $49.80, for a total transaction of $346,956.60. Following 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 Securities & Exchange Commission, which can be accessed through this link. 0.13% of the stock is currently owned by insiders.
Several equities analysts have commented on the stock. Wells Fargo & Co upgraded shares of Verizon Communications from a “market perform” rating to an “outperform” rating and set a $50.00 price target on the stock in a research note on Monday, November 20th. ValuEngine upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Nomura upgraded shares of Verizon Communications from a “neutral” rating to a “buy” rating and raised their target price for the stock from $47.00 to $61.00 in a research report on Tuesday, December 12th. Instinet increased their price target on Verizon Communications from $47.00 to $61.00 and gave the stock a “buy” rating in a report on Tuesday, December 12th. Finally, HSBC downgraded Verizon Communications from a “buy” rating to a “hold” rating and decreased their price target for the stock from $54.83 to $42.80 in a report on Thursday, December 14th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Verizon Communications has an average rating of “Hold” and an average price target of $53.69.
Shares of Verizon Communications Inc. (NYSE:VZ) traded down $0.26 on Wednesday, reaching $48.39. The company had a trading volume of 8,284,504 shares, compared to its average volume of 18,529,617. 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 52-week low of $42.80 and a 52-week high of $54.77. The company has a market cap of $198,670.00, a P/E ratio of 14.89, a P/E/G ratio of 1.98 and a beta of 0.67.
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 Thomson Reuters’ 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 firm had revenue of $33.96 billion during the quarter, compared to analyst estimates of $33.20 billion. During the same quarter last year, the company earned $0.86 EPS. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. equities analysts predict that Verizon Communications Inc. will post 4.55 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 1st. Investors of record on Tuesday, April 10th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 4.88%. The ex-dividend date is Monday, April 9th. Verizon Communications’s payout ratio is 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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