Livingston Group Asset Management CO operating as Southport Capital Management cut its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 2.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 52,003 shares of the cell phone carrier’s stock after selling 1,517 shares during the quarter. Verizon Communications comprises approximately 1.0% of Livingston Group Asset Management CO operating as Southport Capital Management’s portfolio, making the stock its 24th biggest holding. Livingston Group Asset Management CO operating as Southport Capital Management’s holdings in Verizon Communications were worth $2,753,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of Verizon Communications by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 282,894,542 shares of the cell phone carrier’s stock worth $12,634,070,000 after purchasing an additional 5,837,702 shares during the period. Capital Research Global Investors raised its holdings in shares of Verizon Communications by 15.1% in the 2nd quarter. Capital Research Global Investors now owns 153,408,016 shares of the cell phone carrier’s stock worth $6,851,202,000 after purchasing an additional 20,070,391 shares during the period. FMR LLC raised its holdings in shares of Verizon Communications by 15.0% in the 2nd quarter. FMR LLC now owns 61,833,096 shares of the cell phone carrier’s stock worth $2,761,466,000 after purchasing an additional 8,077,275 shares during the period. Legal & General Group Plc raised its holdings in shares of Verizon Communications by 2.7% in the 3rd quarter. Legal & General Group Plc now owns 24,495,234 shares of the cell phone carrier’s stock worth $1,212,227,000 after purchasing an additional 636,014 shares during the period. Finally, Franklin Resources Inc. raised its holdings in shares of Verizon Communications by 19.9% in the 2nd quarter. Franklin Resources Inc. now owns 21,820,729 shares of the cell phone carrier’s stock worth $974,515,000 after purchasing an additional 3,623,182 shares during the period. Hedge funds and other institutional investors own 63.98% of the company’s stock.
In other Verizon Communications news, SVP Anthony T. Skiadas sold 6,967 shares of the firm’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 approximately $799,738.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.13% of the stock is owned by company insiders.
Shares of Verizon Communications Inc. (NYSE VZ) opened at $46.88 on Friday. Verizon Communications Inc. has a 12 month low of $42.80 and a 12 month high of $54.77. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.54. The firm has a market capitalization of $196,862.59, a P/E ratio of 6.37, a price-to-earnings-growth ratio of 1.93 and a beta of 0.68.
Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Tuesday, January 23rd. The cell phone carrier reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $33.20 billion. During the same quarter last year, the business earned $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 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 paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Monday, April 9th. This represents a $2.36 dividend on an annualized basis and a yield of 5.03%. Verizon Communications’s dividend payout ratio (DPR) is presently 32.07%.
VZ has been the topic of a number of research reports. Nomura upgraded Verizon Communications from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $47.00 to $61.00 in a report on Tuesday, December 12th. Vetr upgraded Verizon Communications from a “hold” rating to a “buy” rating and set a $54.80 price objective on the stock in a report on Monday, February 5th. KeyCorp raised their price objective on Verizon Communications from $50.00 to $53.00 and gave the stock a “sector weight” rating in a report on Tuesday, January 2nd. Moffett Nathanson upgraded Verizon Communications from a “neutral” rating to a “buy” rating in a report on Wednesday, February 28th. Finally, ValuEngine upgraded Verizon Communications from a “hold” rating to a “buy” rating in a report on Friday, December 1st. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Verizon Communications has an average rating of “Hold” and an average target price of $53.66.
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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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