Community Financial Services Group LLC boosted its position in Verizon Communications Inc. (NYSE:VZ) by 1.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 105,612 shares of the cell phone carrier’s stock after buying an additional 1,542 shares during the period. Verizon Communications makes up approximately 2.2% of Community Financial Services Group LLC’s investment portfolio, making the stock its 24th largest holding. Community Financial Services Group LLC’s holdings in Verizon Communications were worth $5,590,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Legacy Advisors LLC acquired a new position in Verizon Communications in the third quarter valued at approximately $132,000. Shine Investment Advisory Services Inc. lifted its holdings in 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 valued at $134,000 after acquiring an additional 1,775 shares during the period. Private Vista LLC lifted its holdings in Verizon Communications by 3,339.1% in the second quarter. Private Vista LLC now owns 389,552 shares of the cell phone carrier’s stock valued at $143,000 after acquiring an additional 378,225 shares during the period. Mountain Capital Investment Advisors Inc acquired a new position in Verizon Communications in the second quarter valued at approximately $156,000. Finally, Regal Wealth Group Inc. lifted its holdings 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 acquiring an additional 24 shares during the period. Hedge funds and other institutional investors own 64.37% of the company’s stock.
Verizon Communications Inc. (NYSE:VZ) opened at $48.56 on Friday. Verizon Communications Inc. has a 52 week low of $42.80 and a 52 week high of $54.77. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.54. The company has a market capitalization of $198,100.00, a price-to-earnings ratio of 14.94, a P/E/G ratio of 1.96 and a beta of 0.67.
Verizon Communications (NYSE:VZ) last posted 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). 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 period in the prior year, the company posted $0.86 earnings per share. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. equities analysts predict that Verizon Communications Inc. will post 4.55 earnings per share for the current year.
The company also recently disclosed 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 annualized dividend and a yield of 4.86%. The ex-dividend date is Monday, April 9th. Verizon Communications’s dividend payout ratio is currently 72.62%.
A number of brokerages have issued reports on VZ. Bank of America boosted their price target on Verizon Communications from $55.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. HSBC downgraded Verizon Communications from a “buy” rating to a “hold” rating and decreased their price target for the company from $54.83 to $42.80 in a report on Thursday, December 14th. They noted that the move was a valuation call. Vetr raised Verizon Communications from a “hold” rating to a “buy” rating and set a $54.80 price target for the company in a report on Monday, February 5th. Howard Weil raised Verizon Communications from a “sector perform” rating to a “sector outperform” rating in a report on Monday, January 22nd. Finally, Guggenheim assumed coverage on Verizon Communications in a research note on Tuesday, March 13th. They set a “buy” rating and a $58.00 target price for the company. One investment 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. The stock currently has a consensus rating of “Hold” and an average target price of $53.69.
In related news, SVP Anthony T. Skiadas sold 6,967 shares of the stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 16,059 shares of the company’s stock, valued at approximately $799,738.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.13% of the stock is currently owned by corporate insiders.
TRADEMARK VIOLATION NOTICE: This story was published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this story on another domain, it was illegally copied and reposted in violation of United States and international copyright and trademark laws. The original version of this story can be accessed at https://ledgergazette.com/2018/03/18/community-financial-services-group-llc-purchases-1542-shares-of-verizon-communications-inc-vz.html.
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.
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.