Quadrature Capital Ltd acquired a new stake in Verizon Communications (NYSE:VZ) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 15,654 shares of the cell phone carrier’s stock, valued at approximately $830,000.
Other large investors have also recently made changes to their positions in the company. Delphi Private Advisors LLC bought a new position in Verizon Communications in the fourth quarter valued at approximately $141,000. Capital Investment Advisory Services LLC grew its stake in shares of Verizon Communications by 12.1% during the fourth quarter. Capital Investment Advisory Services LLC now owns 23,549 shares of the cell phone carrier’s stock worth $1,246,000 after buying an additional 2,550 shares during the last quarter. Resources Investment Advisors Inc. grew its stake in shares of Verizon Communications by 56.0% during the fourth quarter. Resources Investment Advisors Inc. now owns 22,490 shares of the cell phone carrier’s stock worth $1,191,000 after buying an additional 8,072 shares during the last quarter. State of Tennessee Treasury Department grew its stake in shares of Verizon Communications by 24.6% during the fourth quarter. State of Tennessee Treasury Department now owns 2,631,941 shares of the cell phone carrier’s stock worth $139,309,000 after buying an additional 520,417 shares during the last quarter. Finally, Bristol Advisors LLC bought a new stake in shares of Verizon Communications during the fourth quarter worth $3,964,000. 64.10% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have weighed in on VZ. SunTrust Banks boosted their target price on shares of Verizon Communications to $58.00 and gave the stock a “hold” rating in a research note on Wednesday, January 24th. Vetr cut shares of Verizon Communications from a “strong-buy” rating to a “buy” rating and set a $52.49 target price on the stock. in a research note on Tuesday, April 3rd. William Blair reaffirmed a “market perform” rating on shares of Verizon Communications in a research note on Wednesday, April 25th. JPMorgan Chase boosted their target price on shares of Verizon Communications from $52.00 to $58.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 24th. Finally, Zacks Investment Research raised shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a research note on Tuesday, February 13th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and sixteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $54.75.
Shares of Verizon Communications opened at $47.74 on Friday, Marketbeat reports. The firm has a market cap of $197.56 billion, a PE ratio of 12.76, a price-to-earnings-growth ratio of 1.92 and a beta of 0.62. The company has a current ratio of 0.98, a quick ratio of 0.94 and a debt-to-equity ratio of 2.15. Verizon Communications has a 52 week low of $42.80 and a 52 week high of $54.77.
Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Tuesday, April 24th. The cell phone carrier reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.06. The company had revenue of $31.77 billion for the quarter, compared to analyst estimates of $31.25 billion. Verizon Communications had a net margin of 24.37% and a return on equity of 42.62%. Verizon Communications’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.95 earnings per share. equities analysts anticipate that Verizon Communications will post 4.57 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, May 1st. Investors of record on Tuesday, April 10th were issued a $0.59 dividend. The ex-dividend date was Monday, April 9th. This represents a $2.36 annualized dividend and a yield of 4.94%. Verizon Communications’s payout ratio is 63.10%.
In related news, SVP Anthony T. Skiadas sold 1,974 shares of the business’s stock in a transaction on Tuesday, May 1st. The shares were sold at an average price of $49.44, for a total value of $97,594.56. Following the transaction, the senior vice president now owns 16,060 shares in the company, valued at $794,006.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.09% of the stock is owned by insiders.
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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