Trilogy Capital Inc. increased its stake in shares of Verizon Communications Inc. (NYSE: VZ – Get Rating) by 17.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,008 shares of the cell phone carrier’s stock after purchasing an additional 3,728 shares during the quarter. Trilogy Capital Inc.’s holdings in Verizon Communications were worth $ 1,274,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Rinkey Investments acquired a new stake in Verizon Communications in the fourth quarter valued at $ 27,000. Econ Financial Services Corp acquired a new stake in Verizon Communications in the fourth quarter valued at $ 32,000. Gibson Wealth Advisors LLC acquired a new stake in Verizon Communications in the fourth quarter valued at $ 37,000. Rather & Kittrell Inc. acquired a new stake in Verizon Communications in the fourth quarter valued at $ 43,000. Finally, Bivin & Associates Inc. acquired a new position in shares of Verizon Communications during the 4th quarter worth $ 46,000. 63.78% of the stock is owned by hedge funds and other institutional investors.
In related news, CEO Tami A. Erwin sold 23,647 shares of the business’s 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 transaction, the chief executive officer now directly owns 21,817 shares of the company stock, valued at approximately $ 1,085,832.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Craig L. Silliman sold 1,558 shares of the business’s stock in a transaction that occurred on Monday, April 4th. The stock was sold at an average price of $ 52.00, for a total value of $ 81,016.00. Following the transaction, the executive vice president now directly owns 38,077 shares in the company, valued at $ 1,980,004. 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 ninety days. Corporate insiders own 0.02% of the company stock.
Several research analysts have recently issued reports on VZ shares. The Goldman Sachs Group downgraded Verizon Communications from a “buy” rating to a “neutral” rating and cut their price target for the stock from $ 61.00 to $ 55.00 in a research note on Monday, April 25th. William Blair reaffirmed a “market perform” rating on shares of Verizon Communications in a research note on Monday, April 25th. Wolfe Research cut their price target on Verizon Communications from $ 60.00 to $ 51.00 and set a “peer perform” rating for the company in a research note on Thursday, June 2nd. DZ Bank downgraded Verizon Communications from a “hold” rating to a “sell” rating and set a $ 44.00 price target for the company. in a research note on Friday, April 29th. Finally, StockNews.com raised Verizon Communications from a “hold” rating to a “buy” rating in a research note on Thursday, May 12th. Two equities 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 company stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $ 57.20.
VZ opened at $ 49.03 on Tuesday. The stock has a market capitalization of $ 205.91 billion, a price-to-earnings ratio of 9.52, a price-to-earnings-growth ratio of 2.52 and a beta of 0.41. Verizon Communications Inc. has a 12 month low of $ 45.55 and a 12 month high of $ 56.85. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.76 and a quick ratio of 0.69. The business has a 50-day moving average of $ 50.24 and a two-hundred day moving average of $ 51.84.
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 for the quarter, meeting the consensus estimate of $ 1.35. The business had revenue of $ 33.60 billion for the quarter, compared to analyst estimates of $ 33.61 billion. Verizon Communications had a return on equity of 28.15% and a net margin of 15.93%. The company revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the company posted $ 1.31 EPS. Equities research analysts anticipate that Verizon Communications Inc. will post 5.4 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 1st. Stockholders of record on Friday, July 8th will be paid a $ 0.64 dividend. This represents a $ 2.56 annualized dividend and a dividend yield of 5.22%. The ex-dividend date is Thursday, July 7th. Verizon Communications’s dividend payout ratio is currently 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.
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