Dividend Assets Capital LLC reduced its stake in shares of Verizon Communications Inc. (NYSE: VZ – Get Rating) by 3.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 14,661 shares of the cell phone carrier’s stock after selling 467 shares during the quarter. Dividend Assets Capital LLC’s holdings in Verizon Communications were worth $ 762,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the company. BlackRock Inc. increased its stake in shares of Verizon Communications by 0.3% in the fourth quarter. BlackRock Inc. now owns 290,740,891 shares of the cell phone carrier’s stock worth $ 15,106,895,000 after purchasing an additional 791,443 shares during the period. State Street Corp increased its stake in shares of Verizon Communications by 2.6% in the fourth quarter. State Street Corp now owns 170,483,451 shares of the cell phone carrier’s stock worth $ 8,858,320,000 after purchasing an additional 4,312,242 shares during the period. Geode Capital Management LLC increased its stake in shares of Verizon Communications by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 73,174,424 shares of the cell phone carrier’s stock worth $ 3,792,626,000 after purchasing an additional 1,776,263 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Verizon Communications by 8.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 56,847,194 shares of the cell phone carrier’s stock worth $ 2,953,781,000 after purchasing an additional 4,571,857 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Verizon Communications by 9.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 31,551,623 shares of the cell phone carrier’s stock worth $ 1,639,502,000 after purchasing an additional 2,847,892 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 the company stock in a transaction on Monday, April 4th. The stock was sold at an average price of $ 52.00, for a total transaction of $ 81,016.00. Following the transaction, the executive vice president now owns 38,077 shares of the company stock, valued at approximately $ 1,980,004. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Tami A. Erwin sold 23,647 shares of the company stock in a transaction on Tuesday, April 26th. The stock was sold at an average price of $ 49.77, for a total value of $ 1,176,911.19. Following the transaction, the chief executive officer now directly owns 21,817 shares in the company, valued at approximately $ 1,085,832.09. The disclosure for this sale can be found here. Insiders sold a total of 28,321 shares of company stock worth $ 1,415,192 over the last three months. 0.02% of the stock is owned by company insiders.
Shares of VZ opened at $ 48.84 on Friday. The company has a market capitalization of $ 205.11 billion, a P / E ratio of 9.48, a PEG ratio of 2.62 and a beta of 0.41. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.76 and a quick ratio of 0.69. Verizon Communications Inc. has a one year low of $ 45.55 and a one year high of $ 56.92. The business’s 50 day simple moving average is $ 50.43 and its 200-day simple moving average is $ 51.84.
Verizon Communications (NYSE: VZ – Get Rating) last announced its earnings results on Friday, April 22nd. The cell phone carrier reported $ 1.35 EPS for the quarter, hitting the consensus estimate of $ 1.35. The business had revenue of $ 33.60 billion for the quarter, compared to the estimate consensus of $ 33.61 billion. Verizon Communications had a return on equity of 28.15% and a net margin of 15.93%. Verizon Communications’s revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the business earned $ 1.31 EPS. On average, sell-side analysts anticipate that Verizon Communications Inc. will post 5.4 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 1st. Stockholders of record on Friday, July 8th will be issued a $ 0.64 dividend. This represents a $ 2.56 annualized dividend and a dividend yield of 5.24%. The ex-dividend date is Thursday, July 7th. Verizon Communications’s payout ratio is currently 49.71%.
Several equities analysts recently issued reports on the company. William Blair restated a “market perform” rating on shares of Verizon Communications in a research note on Monday, April 25th. Wolfe Research lowered their price target on Verizon Communications from $ 60.00 to $ 51.00 and set a “peer perform” rating on the stock in a research note on Thursday, June 2nd. DZ Bank lowered Verizon Communications from a “hold” rating to a “sell” rating and set a $ 44.00 price target on the stock. in a research note on Friday, April 29th. StockNews.com upgraded Verizon Communications from a “hold” rating to a “buy” rating in a research note on Thursday, May 12th. Finally, The Goldman Sachs Group lowered 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 note on Monday, April 25th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $ 57.20.
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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