RFG Advisory Group LLC decreased its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 7.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,557 shares of the cell phone carrier’s stock after selling 1,724 shares during the period. Verizon Communications makes up 0.7% of RFG Advisory Group LLC’s investment portfolio, making the stock its 29th largest holding. RFG Advisory Group LLC’s holdings in Verizon Communications were worth $1,058,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently made changes to their positions in VZ. Oakmont Partners LLC boosted its stake in Verizon Communications by 0.3% during the second quarter. Oakmont Partners LLC now owns 6,391 shares of the cell phone carrier’s stock worth $285,000 after acquiring an additional 22 shares in the last quarter. Conservest Capital Advisors Inc. boosted its stake in Verizon Communications by 0.5% during the second quarter. Conservest Capital Advisors Inc. now owns 5,024 shares of the cell phone carrier’s stock worth $224,000 after acquiring an additional 23 shares in the last quarter. Regal Wealth Group Inc. boosted its stake in Verizon Communications by 0.7% during the second quarter. Regal Wealth Group Inc. now owns 3,682 shares of the cell phone carrier’s stock worth $164,000 after acquiring an additional 24 shares in the last quarter. Glassman Wealth Services boosted its stake in Verizon Communications by 0.4% during the second quarter. Glassman Wealth Services now owns 7,719 shares of the cell phone carrier’s stock worth $345,000 after acquiring an additional 31 shares in the last quarter. Finally, Nottingham Advisors Inc. boosted its stake in Verizon Communications by 0.5% during the second quarter. Nottingham Advisors Inc. now owns 6,425 shares of the cell phone carrier’s stock worth $287,000 after acquiring an additional 35 shares in the last quarter. 63.22% of the stock is currently owned by hedge funds and other institutional investors.
Verizon Communications Inc. (NYSE:VZ) opened at $51.66 on Wednesday. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 4.05. The stock has a market cap of $210,740.00, a PE ratio of 13.25, a price-to-earnings-growth ratio of 4.68 and a beta of 0.57. Verizon Communications Inc. has a twelve month low of $42.80 and a twelve month high of $53.69.
Verizon Communications (NYSE:VZ) last issued its earnings results on Thursday, October 19th. The cell phone carrier reported $0.98 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.98. The business had revenue of $31.70 billion during the quarter, compared to analysts’ expectations of $31.45 billion. Verizon Communications had a net margin of 12.80% and a return on equity of 58.66%. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.01 earnings per share. sell-side analysts predict that Verizon Communications Inc. will post 3.77 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th will be issued a dividend of $0.59 per share. The ex-dividend date is Tuesday, January 9th. This represents a $2.36 annualized dividend and a dividend yield of 4.57%. Verizon Communications’s payout ratio is 60.51%.
In other news, EVP Craig L. Silliman sold 610 shares of the business’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $47.41, for a total transaction of $28,920.10. Following the completion of the transaction, the executive vice president now directly owns 3,269 shares of the company’s stock, valued at $154,983.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.13% of the stock is owned by insiders.
Several equities research analysts recently commented on VZ shares. Macquarie reissued a “hold” rating and set a $52.00 price objective on shares of Verizon Communications in a research note on Sunday, October 22nd. SunTrust Banks reissued a “hold” rating and set a $50.00 price objective on shares of Verizon Communications in a research note on Friday, October 20th. Moffett Nathanson reissued a “buy” rating on shares of Verizon Communications in a research note on Thursday, October 12th. Wells Fargo & Co raised shares of Verizon Communications from a “market perform” rating to an “outperform” rating and set a $50.00 price objective on the stock in a research note on Monday, November 20th. Finally, Instinet boosted their price objective on shares of Verizon Communications from $47.00 to $61.00 and gave the stock a “buy” rating in a research note on Tuesday, December 12th. Two investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Verizon Communications presently has a consensus rating of “Hold” and an average target price of $51.98.
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Verizon Communications Company Profile
Verizon Communications Inc is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. Its segments include Wireless and Wireline. The Wireless segment offers communications products and services, including wireless voice and data services and equipment sales, to consumer, business and government customers across the United States.
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