Arvest Trust Co. NA purchased a new stake in shares of Verizon Communications Inc. (NYSE: VZ – Get Rating) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 6,344 shares of the cell phone carrier’s stock, valued at approximately $ 330,000.
A number of other institutional investors also recently modified their holdings of the business. Everett Harris & Co. CA increased its stake in shares of Verizon Communications by 6.2% in the fourth quarter. Everett Harris & Co. CA now owns 491,456 shares of the cell phone carrier’s stock worth $ 25,536,000 after acquiring an additional 28,710 shares during the period. Qtron Investments LLC increased its stake in shares of Verizon Communications by 4.9% in the fourth quarter. Qtron Investments LLC now owns 14,495 shares of the cell phone carrier’s stock worth $ 753,000 after acquiring an additional 682 shares during the period. Autumn Glory Partners LLC acquired a new stake in shares of Verizon Communications in the fourth quarter worth $ 938,000. Maltin Wealth Management Inc. increased its stake in shares of Verizon Communications by 45.0% in the fourth quarter. Maltin Wealth Management Inc. now owns 27,054 shares of the cell phone carrier’s stock worth $ 1,406,000 after acquiring an additional 8,393 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab AS increased its stake in shares of Verizon Communications by 60.8% in the fourth quarter. BI Asset Management Fondsmaeglerselskab AS now owns 746,708 shares of the cell phone carrier’s stock worth $ 38,799,000 after acquiring an additional 282,313 shares during the period. Institutional investors and hedge funds own 63.78% of the company stock.
In other Verizon Communications news, EVP Craig L. Silliman sold 1,558 shares of Verizon Communications stock in a transaction dated Monday, April 4th. The shares were sold at an average price of $ 52.00, for a total transaction of $ 81,016.00. Following the completion of the sale, the executive vice president now directly owns 38,077 shares in the company, valued at $ 1,980,004. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Tami A. Erwin sold 23,647 shares of Verizon Communications stock in a transaction dated Tuesday, April 26th. The shares were sold at an average price of $ 49.77, for a total transaction of $ 1,176,911.19. Following the sale, the chief executive officer now owns 21,817 shares of the company stock, valued at $ 1,085,832.09. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,321 shares of company stock valued at $ 1,415,192. 0.10% of the stock is owned by company insiders.
Several equities analysts have issued reports on the stock. William Blair reaffirmed a “market perform” rating on shares of Verizon Communications in a report on Monday, April 25th. The Goldman Sachs Group downgraded shares of Verizon Communications from a “buy” rating to a “neutral” rating and decreased their price target for the company from $ 61.00 to $ 55.00 in a report on Monday, April 25th. DZ Bank downgraded shares of Verizon Communications from a “hold” rating to a “sell” rating and set a $ 44.00 price objective on the stock. in a report on Friday, April 29th. Wolfe Research decreased their price objective on shares of Verizon Communications from $ 60.00 to $ 51.00 and set a “peer perform” rating on the stock in a report on Thursday, June 2nd. Finally, StockNews.com raised shares of Verizon Communications from a “hold” rating to a “buy” rating in a report on Thursday, May 12th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $ 57.20.
Verizon Communications stock opened at $ 49.03 on Friday. Verizon Communications Inc. has a 12-month low of $ 45.55 and a 12-month high of $ 56.85. The stock has a market cap of $ 205.91 billion, a P / E ratio of 9.52, a PEG ratio of 2.53 and a beta of 0.41. The company has a 50-day moving average price of $ 50.34 and a 200 day moving average price of $ 51.83. The company has a current ratio of 0.76, a quick ratio of 0.69 and a debt-to-equity ratio of 1.64.
Verizon Communications (NYSE: VZ – Get Rating) last released its quarterly earnings data on Friday, April 22nd. The cell phone carrier reported $ 1.35 earnings per share (EPS) for the quarter, hitting the consensus estimate of $ 1.35. Verizon Communications had a net margin of 15.93% and a return on equity of 28.15%. The firm had revenue of $ 33.60 billion during the quarter, compared to analysts’ expectations of $ 33.61 billion. During the same period last year, the business earned $ 1.31 earnings per share. Verizon Communications’s revenue was up 2.2% compared to the same quarter last year. As a group, analysts forecast that Verizon Communications Inc. will post 5.4 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 1st. Investors of record on Friday, July 8th will be given a dividend of $ 0.64 per share. This represents a $ 2.56 annualized dividend and a yield of 5.22%. The ex-dividend date of this dividend is Thursday, July 7th. Verizon Communications’s payout ratio is currently 49.71%.
Verizon Communications Profile: (Get Rating)
Verizon Communications Inc, through its subsidiaries, offers communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. Its Consumer segment provides postpaid and prepaid service plans; internet access on notebook computers and tablets; wireless equipment, including smartphones and other handsets; and wireless-enabled internet devices, such as tablets, and other wireless-enabled connected devices comprising smart watches.
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