Rothschild Investment Corp IL raised its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 1.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 132,445 shares of the cell phone carrier’s stock after buying an additional 1,976 shares during the period. Rothschild Investment Corp IL’s holdings in Verizon Communications were worth $7,994,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of VZ. CapWealth Advisors LLC grew its position in Verizon Communications by 1.2% during the fourth quarter. CapWealth Advisors LLC now owns 176,826 shares of the cell phone carrier’s stock worth $9,941,000 after buying an additional 2,021 shares in the last quarter. Segall Bryant & Hamill LLC grew its position in Verizon Communications by 2.6% during the fourth quarter. Segall Bryant & Hamill LLC now owns 142,255 shares of the cell phone carrier’s stock worth $7,998,000 after buying an additional 3,570 shares in the last quarter. IHT Wealth Management LLC grew its position in Verizon Communications by 4.5% during the fourth quarter. IHT Wealth Management LLC now owns 45,973 shares of the cell phone carrier’s stock worth $2,585,000 after buying an additional 1,999 shares in the last quarter. Ancora Advisors LLC grew its position in Verizon Communications by 1.2% during the fourth quarter. Ancora Advisors LLC now owns 202,047 shares of the cell phone carrier’s stock worth $11,360,000 after buying an additional 2,330 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its position in Verizon Communications by 2.5% during the fourth quarter. Thrivent Financial for Lutherans now owns 3,789,410 shares of the cell phone carrier’s stock worth $212,994,000 after buying an additional 92,892 shares in the last quarter. Institutional investors and hedge funds own 65.42% of the company’s stock.
In other news, EVP Craig L. Silliman sold 1,349 shares of Verizon Communications stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $56.01, for a total value of $75,557.49. Following the completion of the transaction, the executive vice president now owns 22,681 shares in the company, valued at $1,270,362.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Tami A. Erwin sold 17,000 shares of Verizon Communications stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $57.75, for a total transaction of $981,750.00. Following the completion of the transaction, the chief executive officer now owns 853 shares of the company’s stock, valued at approximately $49,260.75. The disclosure for this sale can be found here. Insiders have sold 21,047 shares of company stock worth $1,214,722 over the last ninety days. Company insiders own 0.03% of the company’s stock.
NYSE VZ opened at $59.93 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.84 and a debt-to-equity ratio of 2.12. The stock’s 50 day moving average is $59.14 and its two-hundred day moving average is $57.83. The company has a market capitalization of $244.92 billion, a price-to-earnings ratio of 12.72, a PEG ratio of 2.95 and a beta of 0.53. Verizon Communications Inc. has a 1-year low of $52.28 and a 1-year high of $61.58.
Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Thursday, August 1st. The cell phone carrier reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.03. The company had revenue of $32.07 billion for the quarter, compared to the consensus estimate of $32.42 billion. Verizon Communications had a return on equity of 34.91% and a net margin of 12.08%. The company’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the previous year, the business earned $1.20 earnings per share. On average, analysts predict that Verizon Communications Inc. will post 4.81 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be issued a dividend of $0.615 per share. This represents a $2.46 dividend on an annualized basis and a yield of 4.10%. This is an increase from Verizon Communications’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Wednesday, October 9th. Verizon Communications’s payout ratio is presently 52.23%.
VZ has been the topic of a number of recent research reports. Citigroup set a $62.00 target price on Verizon Communications and gave the stock a “hold” rating in a research report on Tuesday, September 10th. Oppenheimer raised Verizon Communications from a “market perform” rating to an “outperform” rating and set a $70.00 target price on the stock in a research report on Tuesday, August 27th. ValuEngine downgraded Verizon Communications from a “hold” rating to a “sell” rating in a research report on Friday, October 4th. Nomura set a $65.00 target price on Verizon Communications and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Finally, SunTrust Banks lifted their price objective on Verizon Communications from $61.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $61.81.
About Verizon Communications
Verizon Communications Inc, through its subsidiaries, offers communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company's Wireless segment provides wireless voice and data services; Internet access on various notebook computers and tablets; international travel wireless services; and network access services to deliver various Internet of Things products and services, as well as offers digital advertising and digital media services platforms.
Further Reading: Technical Analysis
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