Atria Investments LLC boosted its stake in Verizon Communications (NYSE:VZ) by 7.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 128,612 shares of the cell phone carrier’s stock after purchasing an additional 8,782 shares during the quarter. Atria Investments LLC’s holdings in Verizon Communications were worth $6,807,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of VZ. Capital Research Global Investors grew its holdings 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 last quarter. FMR LLC grew its holdings 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 last quarter. Vanguard Group Inc. grew its holdings 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 last quarter. Stifel Financial Corp grew its holdings in shares of Verizon Communications by 7,639.8% during the third quarter. Stifel Financial Corp now owns 3,877,541 shares of the cell phone carrier’s stock valued at $191,847,000 after buying an additional 3,827,442 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings 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 last quarter. Institutional investors and hedge funds own 64.00% of the company’s stock.
VZ stock traded down $0.66 during mid-day trading on Monday, hitting $47.16. The company had a trading volume of 16,510,599 shares, compared to its average volume of 17,964,641. The firm has a market cap of $197,399.23, a price-to-earnings ratio of 12.61, a P/E/G ratio of 1.94 and a beta of 0.64. The company has a debt-to-equity ratio of 2.54, a quick ratio of 0.87 and a current ratio of 0.91. Verizon Communications has a 12 month low of $42.80 and a 12 month high of $54.77.
Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Tuesday, January 23rd. The cell phone carrier reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.02). Verizon Communications had a net margin of 23.88% and a return on equity of 48.97%. The business had revenue of $33.96 billion during the quarter, compared to the consensus estimate of $33.20 billion. During the same period last year, the firm earned $0.86 EPS. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. analysts forecast that Verizon Communications will post 4.55 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Tuesday, April 10th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 5.00%. The ex-dividend date is Monday, April 9th. Verizon Communications’s dividend payout ratio (DPR) is currently 63.10%.
A number of research analysts have recently issued reports on VZ shares. Nomura lifted their price objective 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. Bank of America boosted their price target on shares of Verizon Communications from $55.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, January 24th. Instinet boosted their price target on shares of Verizon Communications from $47.00 to $61.00 and gave the stock a “buy” rating in a report on Tuesday, December 12th. Scotiabank upgraded shares of Verizon Communications from a “sector perform” rating to a “buy” rating and set a $60.00 price target on the stock in a report on Monday, January 22nd. Finally, Vetr upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $54.80 price target on the stock in a report on Monday, February 5th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Verizon Communications presently has an average rating of “Hold” and an average price target of $54.31.
In other news, SVP Anthony T. Skiadas sold 6,967 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $49.80, for a total value of $346,956.60. Following the sale, the senior vice president now owns 16,059 shares of the company’s stock, valued at $799,738.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.09% of the company’s stock.
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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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