KB Financial Partners LLC lifted its holdings in shares of Verizon Communications Inc. (NYSE: VZ – Get Rating) by 15.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,550 shares of the cell phone carrier’s stock after buying an additional 1,448 shares during the quarter. KB Financial Partners LLC’s holdings in Verizon Communications were worth $ 548,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the stock. Rinkey Investments bought a new stake in Verizon Communications during the 4th quarter worth approximately $ 27,000. Econ Financial Services Corp bought a new position in shares of Verizon Communications in the 4th quarter worth $ 32,000. Gibson Wealth Advisors LLC bought a new position in shares of Verizon Communications in the 4th quarter worth $ 37,000. Bivin & Associates Inc. bought a new position in shares of Verizon Communications in the 4th quarter worth $ 46,000. Finally, Standard Family Office LLC increased its holdings in shares of Verizon Communications by 3,512.0% in the 4th quarter. Standard Family Office LLC now owns 903 shares of the cell phone carrier’s stock worth $ 47,000 after buying an additional 878 shares during the last quarter. Institutional investors own 63.78% of the company stock.
NYSE: VZ opened at $ 49.15 on Thursday. The company has a 50-day moving average price of $ 50.51 and a 200-day moving average price of $ 51.86. Verizon Communications Inc. has a 12 month low of $ 45.55 and a 12 month high of $ 57.39. 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 stock has a market cap of $ 206.41 billion, a price-to-earnings ratio of 9.54, a P / E / G ratio of 2.62 and a beta of 0.41.
Verizon Communications (NYSE: VZ – Get Rating) last posted 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. 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 company posted $ 1.31 EPS. The company quarterly revenue was up 2.2% compared to the same quarter last year. Equities analysts forecast that Verizon Communications Inc. will post 5.4 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 1st. Shareholders of record on Friday, July 8th will be paid a dividend of $ 0.64 per share. The ex-dividend date of this dividend is Thursday, July 7th. This represents a $ 2.56 dividend on an annualized basis and a yield of 5.21%. Verizon Communications’s dividend payout ratio is currently 49.71%.
A number of brokerages have recently commented on VZ. The Goldman Sachs Group lowered shares of Verizon Communications from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $ 61.00 to $ 55.00 in a report on Monday, April 25th. DZ Bank lowered shares of Verizon Communications from a “hold” rating to a “sell” rating and set a $ 44.00 price target on the stock. in a report on Friday, April 29th. StockNews.com raised shares of Verizon Communications from a “hold” rating to a “buy” rating in a report on Thursday, May 12th. William Blair reaffirmed a “market perform” rating on shares of Verizon Communications in a report on Monday, April 25th. Finally, Wolfe Research reduced their target price 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. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $ 57.20.
In other news, EVP Craig L. Silliman sold 1,558 shares of Verizon Communications stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $ 50.00, for a total value of $ 77,900.00. Following the completion of the sale, the executive vice president now directly owns 36,519 shares in the company, valued at $ 1,825,950. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Tami A. Erwin sold 23,647 shares of Verizon Communications stock in a transaction that occurred on 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 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. 0.02% of the stock is owned by company insiders.
Verizon Communications Company 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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