C2C Wealth Management LLC acquired a new stake in Verizon Communications Inc. (NYSE: VZ – Get Rating) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 56,550 shares of the cell phone carrier’s stock, valued at approximately $ 2,938,000. Verizon Communications makes up approximately 0.4% of C2C Wealth Management LLC’s portfolio, making its stock its 27th largest holding.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Keudell Morrison Wealth Management lifted its position in Verizon Communications by 0.9% during the third quarter. Keudell Morrison Wealth Management now owns 47,613 shares of the cell phone carrier’s stock worth $ 2,572,000 after acquiring an additional 448 shares during the last quarter. LPL Financial LLC raised its position in shares of Verizon Communications by 7.7% in the third quarter. LPL Financial LLC now owns 3,905,367 shares of the cell phone carrier’s stock valued at $ 210,929,000 after buying an additional 278,422 shares in the last quarter. Warren Averett Asset Management LLC raised its position in shares of Verizon Communications by 13.5% in the third quarter. Warren Averett Asset Management LLC now owns 9,244 shares of the cell phone carrier’s stock valued at $ 485,000 after buying an additional 1,097 shares in the last quarter. Voloridge Investment Management LLC raised its position in shares of Verizon Communications by 42.1% in the third quarter. Voloridge Investment Management LLC now owns 4,558,405 shares of the cell phone carrier’s stock valued at $ 246,199,000 after buying an additional 1,351,192 shares in the last quarter. Finally, Van Den Berg Management I Inc. raised its position in shares of Verizon Communications by 0.6% in the third quarter. Van Den Berg Management I Inc. now owns 67,222 shares of the cell phone carrier’s stock valued at $ 3,631,000 after buying an additional 373 shares in the last quarter. Institutional investors own 63.78% of the company stock.
VZ has been the subject of a number of analyst reports. DZ Bank downgraded shares of Verizon Communications from a “hold” rating to a “sell” rating and set a $ 44.00 price target for the company. in a research report on Friday, April 29th. William Blair restated a “market perform” rating on shares of Verizon Communications in a research report on Monday, April 25th. StockNews.com upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating in a research report on Thursday, May 12th. The Goldman Sachs Group downgraded shares of Verizon Communications from a “buy” rating to a “neutral” rating and lowered their price target for the company from $ 61.00 to $ 55.00 in a research report on Monday, April 25th. Finally, Wolfe Research lowered their price target on shares of Verizon Communications from $ 60.00 to $ 51.00 and set a “peer perform” rating for the company in a research report on Thursday, June 2nd. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company stock. According to data from MarketBeat, Verizon Communications has an average rating of “Hold” and a consensus price target of $ 57.20.
In related 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 transaction, the executive vice president now directly owns 38,077 shares of the company stock, valued at approximately $ 1,980,004. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Tami A. Erwin sold 23,647 shares of Verizon Communications stock in a transaction dated Tuesday, April 26th. The stock was sold at an average price of $ 49.77, for a total transaction of $ 1,176,911.19. Following the completion of the transaction, the chief executive officer now directly owns 21,817 shares of the company stock, valued at $ 1,085,832.09. The disclosure for this sale can be found here. In the last three months, insiders sold 28,321 shares of company stock worth $ 1,415,192. Insiders own 0.02% of the company stock.
VZ opened at $ 48.84 on Friday. Verizon Communications Inc. has a 12 month low of $ 45.55 and a 12 month high of $ 56.92. The company has a current ratio of 0.76, a quick ratio of 0.69 and a debt-to-equity ratio of 1.64. The company has a market cap of $ 205.11 billion, a PE ratio of 9.48, a price-to-earnings-growth ratio of 2.62 and a beta of 0.41. The company has a 50 day moving average of $ 50.43 and a 200 day moving average of $ 51.84.
Verizon Communications (NYSE: VZ – Get Rating) last posted its quarterly earnings data on Friday, April 22nd. The cell phone carrier reported $ 1.35 earnings per share for the quarter, meeting 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 for the quarter, compared to analysts’ expectations of $ 33.61 billion. During the same quarter last year, the company posted $ 1.31 EPS. The business’s quarterly revenue was up 2.2% on a year-over-year basis. Research analysts forecast that Verizon Communications Inc. will post 5.4 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, August 1st. Shareholders of record on Friday, July 8th will be issued a $ 0.64 dividend. This represents a $ 2.56 dividend on an annualized basis and a yield of 5.24%. The ex-dividend date of this dividend is Thursday, July 7th. Verizon Communications’s dividend payout ratio (DPR) is presently 49.71%.
About Verizon Communications: (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.
See Also:
Receive News & Ratings for Verizon Communications Daily: – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Verizon Communications and related companies with MarketBeat.com’s FREE daily email newsletter.
.