Prentiss Smith & Co. Inc. boosted its holdings in shares of Verizon Communications (NYSE:VZ) by 66.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,633 shares of the cell phone carrier’s stock after buying an additional 5,438 shares during the period. Prentiss Smith & Co. Inc.’s holdings in Verizon Communications were worth $722,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of the stock. Exane Derivatives acquired a new position in shares of Verizon Communications in the 4th quarter worth approximately $103,000. Stelac Advisory Services LLC bought a new stake in Verizon Communications during the 4th quarter worth approximately $111,000. Delphi Private Advisors LLC bought a new position in Verizon Communications in the 4th quarter valued at $141,000. Tower View Investment Management & Research LLC bought a new position in Verizon Communications in the 4th quarter valued at $193,000. Finally, Riverbridge Partners LLC bought a new position in Verizon Communications in the 4th quarter valued at $201,000. 63.74% of the stock is currently owned by hedge funds and other institutional investors.
In other Verizon Communications news, SVP Anthony T. Skiadas sold 1,974 shares of the business’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 transaction, the senior vice president now owns 16,060 shares in the company, valued at $794,006.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.09% of the stock is owned by company insiders.
Verizon Communications traded up $0.42, hitting $47.82, on Thursday, according to Marketbeat Ratings. The company’s stock had a trading volume of 16,543,801 shares, compared to its average volume of 16,607,447. 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 12 month low of $42.80 and a 12 month high of $54.77. The company has a market cap of $203.51 billion, a PE ratio of 12.79, a price-to-earnings-growth ratio of 1.71 and a beta of 0.63.
Verizon Communications (NYSE:VZ) last announced its quarterly earnings results on Tuesday, April 24th. The cell phone carrier reported $1.17 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.06. The firm had revenue of $31.77 billion during the quarter, compared to the consensus estimate of $31.25 billion. Verizon Communications had a net margin of 24.37% and a return on equity of 42.62%. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period last year, the firm earned $0.95 EPS. research analysts forecast that Verizon Communications will post 4.57 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 1st. Investors of record on Tuesday, July 10th will be given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 4.94%. The ex-dividend date is Monday, July 9th. Verizon Communications’s payout ratio is presently 63.10%.
Several research analysts have recently issued reports on the company. Jefferies Financial Group started coverage on Verizon Communications in a research report on Thursday, June 7th. They issued a “hold” rating and a $52.00 price target on the stock. JPMorgan Chase & Co. raised Verizon Communications from a “neutral” rating to an “overweight” rating and set a $58.00 price target on the stock in a research note on Friday, May 11th. William Blair reaffirmed a “market perform” rating on shares of Verizon Communications in a research report on Wednesday, April 25th. SunTrust Banks raised Verizon Communications from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research report on Wednesday, April 25th. They noted that the move was a valuation call. Finally, UBS Group upgraded Verizon Communications from a “neutral” rating to a “buy” rating in a report on Wednesday, April 25th. One analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $54.86.
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.
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