Calamos Advisors LLC Purchases 83,424 Shares of Verizon Communications (VZ)

Calamos Advisors LLC lifted its position in shares of Verizon Communications (NYSE:VZ) by 8.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,128,304 shares of the cell phone carrier’s stock after acquiring an additional 83,424 shares during the period. Calamos Advisors LLC’s holdings in Verizon Communications were worth $59,721,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the company. Advent Capital Management DE grew its position in shares of Verizon Communications by 20.0% during the fourth quarter. Advent Capital Management DE now owns 150,000 shares of the cell phone carrier’s stock worth $7,940,000 after acquiring an additional 25,000 shares during the last quarter. Capital Advantage Inc. grew its position in shares of Verizon Communications by 14.2% during the fourth quarter. Capital Advantage Inc. now owns 12,741 shares of the cell phone carrier’s stock worth $674,000 after acquiring an additional 1,582 shares during the last quarter. Investors Research Corp bought a new position in shares of Verizon Communications during the fourth quarter worth about $517,000. Venturi Wealth Management LLC grew its position in shares of Verizon Communications by 7.4% during the fourth quarter. Venturi Wealth Management LLC now owns 119,270 shares of the cell phone carrier’s stock worth $6,313,000 after acquiring an additional 8,180 shares during the last quarter. Finally, CORDA Investment Management LLC. grew its position in shares of Verizon Communications by 3.0% during the fourth quarter. CORDA Investment Management LLC. now owns 383,210 shares of the cell phone carrier’s stock worth $20,283,000 after acquiring an additional 11,222 shares during the last quarter. Institutional investors and hedge funds own 63.81% of the company’s stock.

In other Verizon Communications news, SVP Anthony T. Skiadas sold 1,974 shares of the company’s stock in a transaction dated Tuesday, May 1st. The shares were sold at an average price of $49.44, for a total value of $97,594.56. Following the completion of the sale, the senior vice president now directly owns 16,060 shares of the company’s stock, valued at approximately $794,006.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.09% of the stock is currently owned by corporate insiders.

Shares of Verizon Communications opened at $48.59 on Thursday, according to Marketbeat. Verizon Communications has a twelve month low of $42.80 and a twelve month high of $54.77. The company has a debt-to-equity ratio of 2.15, a current ratio of 0.98 and a quick ratio of 0.94. The stock has a market capitalization of $199.92 billion, a price-to-earnings ratio of 12.99, a price-to-earnings-growth ratio of 1.94 and a beta of 0.62.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Tuesday, April 24th. The cell phone carrier reported $1.17 earnings per share for the quarter, beating 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 company had revenue of $31.77 billion during the quarter, compared to the consensus estimate of $31.25 billion. During the same period in the prior year, the company earned $0.95 EPS. Verizon Communications’s revenue was up 6.6% on a year-over-year basis. equities research analysts forecast that Verizon Communications will post 4.56 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 1st. Shareholders of record on Tuesday, April 10th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 4.86%. The ex-dividend date of this dividend was Monday, April 9th. Verizon Communications’s payout ratio is 63.10%.

Several research firms have recently commented on VZ. Bank of America upped their price target on shares of Verizon Communications from $55.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. UBS upgraded shares of Verizon Communications from a “neutral” rating to a “buy” rating in a research report on Wednesday, April 25th. Vetr upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $54.80 target price for the company in a research report on Monday, February 5th. Guggenheim initiated coverage on shares of Verizon Communications in a research report on Tuesday, March 13th. They issued a “buy” rating and a $58.00 target price for the company. Finally, Barclays upgraded shares of Verizon Communications from an “equal weight” rating to an “overweight” rating and set a $56.00 target price for the company in a research report on Monday, April 23rd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and sixteen have given a buy rating to the company. Verizon Communications has a consensus rating of “Buy” and an average target price of $54.75.

About Verizon Communications

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)

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