White Lighthouse Investment Management Inc. bought a new stake in Verizon Communications Inc. (NYSE:VZ) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,114 shares of the cell phone carrier’s stock, valued at approximately $271,000.
Other institutional investors have also added to or reduced their stakes in the company. Vantage Financial Partners Ltd. Inc. acquired a new position in shares of Verizon Communications in the second quarter worth approximately $623,000. Shine Investment Advisory Services Inc. lifted its stake in shares of Verizon Communications by 190.9% in the third quarter. Shine Investment Advisory Services Inc. now owns 2,705 shares of the cell phone carrier’s stock worth $134,000 after acquiring an additional 1,775 shares during the period. Legacy Advisors LLC acquired a new position in shares of Verizon Communications in the third quarter worth approximately $132,000. Mountain Capital Investment Advisors Inc acquired a new position in shares of Verizon Communications in the second quarter worth approximately $156,000. Finally, Regal Wealth Group Inc. lifted its stake in shares of 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 worth $164,000 after acquiring an additional 24 shares during the period. Hedge funds and other institutional investors own 64.37% of the company’s stock.
In other news, SVP Anthony T. Skiadas sold 6,967 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 16,059 shares in the company, valued at $799,738.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.13% of the company’s stock.
A number of equities analysts recently commented on VZ shares. Nomura lifted their price objective on Verizon Communications from $61.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, January 24th. Bank of America lifted their price objective on Verizon Communications from $55.00 to $58.00 and gave the stock a “buy” rating in a research note on Wednesday, January 24th. Instinet lifted their price objective on Verizon Communications from $47.00 to $61.00 and gave the stock a “buy” rating in a research note on Tuesday, December 12th. ValuEngine raised Verizon Communications from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Finally, Scotiabank raised Verizon Communications from a “sector perform” rating to a “buy” rating and set a $60.00 price objective on the stock in a research note on Monday, January 22nd. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eleven have given a buy rating to the company’s stock. Verizon Communications currently has an average rating of “Hold” and a consensus target price of $53.69.
Verizon Communications Inc. (VZ) traded down $0.20 during midday trading on Wednesday, hitting $48.45. The stock had a trading volume of 11,917,678 shares, compared to its average volume of 18,613,424. The company has a market capitalization of $198,670.00, a P/E ratio of 14.90, a price-to-earnings-growth ratio of 1.98 and a beta of 0.67. Verizon Communications Inc. has a 52-week low of $42.80 and a 52-week high of $54.77. 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 (NYSE:VZ) last released its quarterly earnings data on Tuesday, January 23rd. The cell phone carrier reported $0.86 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by ($0.02). The firm had revenue of $33.96 billion for the quarter, compared to the consensus estimate of $33.20 billion. Verizon Communications had a net margin of 23.88% and a return on equity of 48.97%. The company’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.86 EPS. equities analysts expect that Verizon Communications Inc. will post 4.55 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Tuesday, April 10th will be issued 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 4.87%. Verizon Communications’s dividend 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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