Halbert Hargrove Russell LLC grew its holdings in Verizon Communications (NYSE:VZ) by 19.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,268 shares of the cell phone carrier’s stock after purchasing an additional 1,013 shares during the period. Halbert Hargrove Russell LLC’s holdings in Verizon Communications were worth $332,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Verizon Communications by 2.1% during the second quarter. Vanguard Group Inc. now owns 282,894,542 shares of the cell phone carrier’s stock valued at $12,634,070,000 after buying an additional 5,837,702 shares during the period. Capital Research Global Investors increased its stake in shares of Verizon Communications by 15.1% during the second quarter. Capital Research Global Investors now owns 153,408,016 shares of the cell phone carrier’s stock valued at $6,851,202,000 after buying an additional 20,070,391 shares during the period. FMR LLC increased its stake in shares of Verizon Communications by 15.0% during the second quarter. FMR LLC now owns 61,833,096 shares of the cell phone carrier’s stock valued at $2,761,466,000 after buying an additional 8,077,275 shares during the period. Legal & General Group Plc increased its stake in shares of Verizon Communications by 2.7% during the third quarter. Legal & General Group Plc now owns 24,495,234 shares of the cell phone carrier’s stock valued at $1,212,227,000 after buying an additional 636,014 shares during the period. Finally, Franklin Resources Inc. increased its stake in shares of Verizon Communications by 19.9% during the second quarter. Franklin Resources Inc. now owns 21,820,729 shares of the cell phone carrier’s stock valued at $974,515,000 after buying an additional 3,623,182 shares during the period. Institutional investors and hedge funds own 64.00% of the company’s stock.
Shares of NYSE VZ opened at $47.74 on Friday. The company has a debt-to-equity ratio of 2.54, a current ratio of 0.91 and a quick ratio of 0.87. The stock has a market capitalization of $199,256.81, a price-to-earnings ratio of 12.76, a price-to-earnings-growth ratio of 1.96 and a beta of 0.64. Verizon Communications has a fifty-two week low of $42.80 and a fifty-two week high of $54.77.
Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Tuesday, January 23rd. The cell phone carrier reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.02). The business had revenue of $33.96 billion during the quarter, compared to analyst estimates of $33.20 billion. Verizon Communications had a return on equity of 48.97% and a net margin of 23.88%. Verizon Communications’s revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.86 EPS. equities analysts anticipate that Verizon Communications will post 4.54 earnings per share for the current year.
The firm also recently declared 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 annualized dividend and a yield of 4.94%. The ex-dividend date is Monday, April 9th. Verizon Communications’s dividend payout ratio is presently 63.10%.
In other Verizon Communications news, SVP Anthony T. Skiadas sold 6,967 shares of the firm’s stock in a transaction dated 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 sale, the senior vice president now owns 16,059 shares of the company’s stock, valued at $799,738.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.09% of the stock is currently owned by company insiders.
A number of brokerages recently weighed in on VZ. Bank of America raised their price objective on Verizon Communications from $55.00 to $58.00 and gave the company a “buy” rating in a research report on Wednesday, January 24th. HSBC downgraded Verizon Communications from a “buy” rating to a “hold” rating and dropped their price objective for the company from $54.83 to $42.80 in a research 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 objective on the stock in a research report on Monday, February 5th. Howard Weil raised Verizon Communications from a “sector perform” rating to a “sector outperform” rating in a research report on Monday, January 22nd. Finally, Guggenheim began coverage on Verizon Communications in a research report on Tuesday, March 13th. They set a “buy” rating and a $58.00 price objective on the stock. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $54.24.
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Verizon Communications Company Profile
Verizon Communications Inc, through its subsidiaries, offers communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company's Wireless segment provides wireless voice and data services; Internet access on various notebook computers and tablets; multimedia, business-focused, and location-based services, as well as international travel services; and network access services to deliver various Internet of Things products and services.
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