Capital International Inc. CA cut its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 12.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 49,360 shares of the cell phone carrier’s stock after selling 6,700 shares during the quarter. Capital International Inc. CA’s holdings in Verizon Communications were worth $2,443,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently made changes to their positions in VZ. Legacy Advisors LLC acquired a new stake in shares of Verizon Communications in the 3rd quarter valued at $132,000. Shine Investment Advisory Services Inc. raised its holdings in shares of Verizon Communications by 190.9% in the 3rd quarter. Shine Investment Advisory Services Inc. now owns 2,705 shares of the cell phone carrier’s stock valued at $134,000 after purchasing an additional 1,775 shares in the last quarter. Private Vista LLC raised its holdings in shares of Verizon Communications by 3,339.1% in the 2nd quarter. Private Vista LLC now owns 389,552 shares of the cell phone carrier’s stock valued at $143,000 after purchasing an additional 378,225 shares in the last quarter. Mountain Capital Investment Advisors Inc acquired a new stake in shares of Verizon Communications in the 2nd quarter valued at $156,000. Finally, Regal Wealth Group Inc. raised its holdings in shares of Verizon Communications by 0.7% in the 2nd quarter. Regal Wealth Group Inc. now owns 3,682 shares of the cell phone carrier’s stock valued at $164,000 after purchasing an additional 24 shares in the last quarter. Institutional investors and hedge funds own 64.21% of the company’s stock.
In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now directly owns 3,269 shares of the company’s stock, valued at approximately $154,983.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Anthony T. Skiadas sold 6,967 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $49.80, for a total transaction of $346,956.60. Following the transaction, the senior vice president now directly owns 16,059 shares in the company, valued at $799,738.20. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.
VZ has been the topic of a number of analyst reports. Wells Fargo & Co upgraded 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 report on Monday, November 20th. Instinet increased their target price on shares of Verizon Communications from $47.00 to $61.00 and gave the company a “buy” rating in a research report on Tuesday, December 12th. Nomura raised shares of Verizon Communications from a “neutral” rating to a “buy” rating and increased their target price for the company from $47.00 to $61.00 in a research report on Tuesday, December 12th. Scotiabank raised shares of Verizon Communications from a “sector perform” rating to a “buy” rating and set a $60.00 target price on the stock in a research report on Monday, January 22nd. Finally, Moffett Nathanson downgraded shares of Verizon Communications from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 16th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $53.48.
Verizon Communications Inc. (NYSE VZ) opened at $48.29 on Friday. Verizon Communications Inc. has a 52-week low of $42.80 and a 52-week high of $54.77. The company has a debt-to-equity ratio of 2.54, a quick ratio of 0.87 and a current ratio of 0.91. The stock has a market cap of $197,000.00, a price-to-earnings ratio of 14.81, a price-to-earnings-growth ratio of 1.95 and a beta of 0.58.
Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Tuesday, January 23rd. The cell phone carrier reported $0.86 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by ($0.02). Verizon Communications had a return on equity of 48.97% and a net margin of 23.88%. The business had revenue of $33.96 billion for the quarter, compared to analysts’ expectations of $33.20 billion. During the same period in the previous year, the business posted $0.86 earnings per share. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. equities analysts anticipate that Verizon Communications Inc. will post 4.54 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 4.89%. The ex-dividend date was Tuesday, January 9th. Verizon Communications’s payout ratio is currently 72.39%.
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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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