Van Hulzen Asset Management LLC Grows Stake in Verizon Communications (VZ)

Van Hulzen Asset Management LLC increased its stake in shares of Verizon Communications (NYSE:VZ) by 5.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 110,182 shares of the cell phone carrier’s stock after purchasing an additional 5,661 shares during the period. Verizon Communications makes up 1.8% of Van Hulzen Asset Management LLC’s investment portfolio, making the stock its 12th largest holding. Van Hulzen Asset Management LLC’s holdings in Verizon Communications were worth $5,832,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Exane Derivatives purchased a new stake in Verizon Communications during the fourth quarter valued at approximately $103,000. Stelac Advisory Services LLC purchased a new stake in Verizon Communications during the fourth quarter valued at approximately $111,000. Delphi Private Advisors LLC purchased a new stake in Verizon Communications during the fourth quarter valued at approximately $141,000. Tower View Investment Management & Research LLC purchased a new stake in Verizon Communications during the fourth quarter valued at approximately $193,000. Finally, Riverbridge Partners LLC purchased a new stake in Verizon Communications during the fourth quarter valued at approximately $201,000. 63.81% of the stock is owned by hedge funds and other institutional investors.

Shares of Verizon Communications opened at $48.43 on Tuesday, Marketbeat.com reports. The company has a debt-to-equity ratio of 2.15, a current ratio of 0.98 and a quick ratio of 0.94. Verizon Communications has a fifty-two week low of $42.80 and a fifty-two week high of $54.77. The firm has a market cap of $197.07 billion, a P/E ratio of 12.95, a P/E/G ratio of 1.91 and a beta of 0.62.

Verizon Communications (NYSE:VZ) last issued its earnings results on Tuesday, April 24th. The cell phone carrier reported $1.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.06. Verizon Communications had a net margin of 24.37% and a return on equity of 42.62%. The firm had revenue of $31.77 billion during the quarter, compared to analyst estimates of $31.25 billion. During the same quarter in the prior year, the business earned $0.95 earnings per share. Verizon Communications’s revenue for the quarter was up 6.6% on a year-over-year basis. research analysts anticipate that Verizon Communications will post 4.56 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 1st. Investors of record on Tuesday, April 10th were given a dividend of $0.59 per share. The ex-dividend date was Monday, April 9th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.87%. Verizon Communications’s dividend payout ratio is 63.10%.

In related news, SVP Anthony T. Skiadas sold 1,974 shares of the company’s stock in a transaction on Tuesday, May 1st. The shares were sold at an average price of $49.44, for a total transaction of $97,594.56. Following the completion of the transaction, the senior vice president now owns 16,060 shares in the company, valued at $794,006.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.09% of the stock is currently owned by corporate insiders.

A number of analysts have commented on VZ shares. Scotiabank raised shares of Verizon Communications from a “sector perform” rating to a “buy” rating and set a $60.00 target price for the company in a report on Monday, January 22nd. Moffett Nathanson raised shares of Verizon Communications from a “neutral” rating to a “buy” rating in a report on Wednesday, February 28th. Vetr cut shares of Verizon Communications from a “strong-buy” rating to a “buy” rating and set a $54.24 target price for the company. in a report on Tuesday, February 27th. Nomura upped their target price on shares of Verizon Communications from $61.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. Finally, Bank of America upped their target price on shares of Verizon Communications from $55.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and sixteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $54.75.

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.

Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

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.



Leave a Reply