Dalton Greiner Hartman Maher & Co. reduced its stake in Verizon Communications Inc. (NYSE:VZ) by 6.7% during the 4th quarter, Holdings Channel reports. The fund owned 258,872 shares of the cell phone carrier’s stock after selling 18,559 shares during the period. Verizon Communications comprises about 1.1% of Dalton Greiner Hartman Maher & Co.’s portfolio, making the stock its 25th biggest position. Dalton Greiner Hartman Maher & Co.’s holdings in Verizon Communications were worth $15,895,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in shares of Verizon Communications in the second quarter valued at $28,000. Lenox Wealth Advisors LLC acquired a new position in Verizon Communications in the third quarter valued at $39,000. Advocacy Wealth Management Services LLC increased its stake in Verizon Communications by 35.8% in the third quarter. Advocacy Wealth Management Services LLC now owns 687 shares of the cell phone carrier’s stock valued at $41,000 after purchasing an additional 181 shares during the last quarter. WealthStone Inc. acquired a new position in Verizon Communications in the second quarter valued at $45,000. Finally, Fulcrum Equity Management acquired a new position in Verizon Communications in the third quarter valued at $48,000. Institutional investors and hedge funds own 65.25% of the company’s stock.
Several equities analysts recently commented on VZ shares. New Street Research reiterated a “buy” rating on shares of Verizon Communications in a research note on Friday, January 10th. Zacks Investment Research lowered Verizon Communications from a “buy” rating to a “hold” rating and set a $62.00 target price for the company. in a research note on Saturday, January 11th. Sanford C. Bernstein started coverage on Verizon Communications in a research note on Tuesday, October 15th. They issued a “market perform” rating and a $63.00 target price for the company. SunTrust Banks upped their target price on Verizon Communications from $61.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, ValuEngine upgraded Verizon Communications from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $63.44.
Verizon Communications stock opened at $59.10 on Thursday. The firm has a market capitalization of $243.97 billion, a P/E ratio of 12.55, a PEG ratio of 3.71 and a beta of 0.51. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 1.99. The stock has a fifty day moving average price of $60.64 and a 200 day moving average price of $59.01. Verizon Communications Inc. has a 52 week low of $52.28 and a 52 week high of $62.22.
Verizon Communications (NYSE:VZ) last announced its quarterly earnings results on Friday, October 25th. The cell phone carrier reported $1.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.24 by $0.01. The company had revenue of $32.89 billion during the quarter, compared to analyst estimates of $32.74 billion. Verizon Communications had a return on equity of 34.50% and a net margin of 12.26%. The firm’s revenue was up .9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.22 earnings per share. As a group, equities analysts predict that Verizon Communications Inc. will post 4.83 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be paid a dividend of $0.615 per share. The ex-dividend date is Thursday, January 9th. This represents a $2.46 annualized dividend and a yield of 4.16%. Verizon Communications’s dividend payout ratio is presently 52.23%.
In other Verizon Communications news, EVP Craig L. Silliman sold 1,346 shares of the company’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $59.55, for a total transaction of $80,154.30. Following the completion of the sale, the executive vice president now directly owns 18,637 shares in the company, valued at $1,109,833.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Craig L. Silliman sold 1,349 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $60.42, for a total value of $81,506.58. Following the sale, the executive vice president now owns 19,983 shares of the company’s stock, valued at $1,207,372.86. The disclosure for this sale can be found here. Corporate insiders own 0.03% of the company’s stock.
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; international travel wireless services; and network access services to deliver various Internet of Things products and services, as well as offers digital advertising and digital media services platforms.
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