Personal CFO Solutions LLC increased its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 4.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 74,721 shares of the cell phone carrier’s stock after acquiring an additional 2,894 shares during the period. Verizon Communications comprises 1.1% of Personal CFO Solutions LLC’s portfolio, making the stock its 18th biggest position. Personal CFO Solutions LLC’s holdings in Verizon Communications were worth $4,390,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Weil Company Inc. grew its holdings in Verizon Communications by 2.2% during the third quarter. Weil Company Inc. now owns 7,903 shares of the cell phone carrier’s stock worth $470,000 after acquiring an additional 169 shares during the period. Frisch Financial Group Inc. grew its holdings in Verizon Communications by 0.7% in the third quarter. Frisch Financial Group Inc. now owns 25,874 shares of the cell phone carrier’s stock valued at $1,539,000 after purchasing an additional 176 shares during the last quarter. J. L. Bainbridge & Co. Inc. grew its holdings in Verizon Communications by 1.8% in the third quarter. J. L. Bainbridge & Co. Inc. now owns 10,010 shares of the cell phone carrier’s stock valued at $596,000 after purchasing an additional 179 shares during the last quarter. Calton & Associates Inc. grew its holdings in Verizon Communications by 0.5% in the third quarter. Calton & Associates Inc. now owns 33,827 shares of the cell phone carrier’s stock valued at $2,012,000 after purchasing an additional 180 shares during the last quarter. Finally, AMI Asset Management Corp grew its holdings in Verizon Communications by 1.6% in the fourth quarter. AMI Asset Management Corp now owns 11,786 shares of the cell phone carrier’s stock valued at $692,000 after purchasing an additional 181 shares during the last quarter. 64.85% of the stock is owned by hedge funds and other institutional investors.
Several analysts have weighed in on the company. Credit Suisse Group lowered their target price on Verizon Communications from $61.00 to $59.00 and set a “neutral” rating on the stock in a report on Tuesday, January 19th. Moffett Nathanson raised Verizon Communications from a “neutral” rating to a “buy” rating and upped their target price for the company from $59.00 to $66.00 in a report on Wednesday, December 2nd. Wells Fargo & Company initiated coverage on Verizon Communications in a report on Monday, November 16th. They issued an “equal weight” rating and a $60.00 target price on the stock. Tigress Financial reaffirmed a “hold” rating on shares of Verizon Communications in a research note on Sunday, November 1st. Finally, JPMorgan Chase & Co. raised Verizon Communications from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $61.00 to $65.00 in a research note on Thursday, November 5th. Eleven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Verizon Communications currently has an average rating of “Buy” and an average price target of $61.84.
Shares of Verizon Communications stock traded up $0.29 during trading hours on Tuesday, reaching $56.74. The stock had a trading volume of 639,102 shares, compared to its average volume of 20,626,359. The firm has a 50 day simple moving average of $56.33 and a two-hundred day simple moving average of $58.66. The firm has a market capitalization of $234.80 billion, a price-to-earnings ratio of 12.25, a P/E/G ratio of 3.54 and a beta of 0.44. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 1.66. Verizon Communications Inc. has a 1 year low of $48.84 and a 1 year high of $61.95.
Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Monday, January 25th. The cell phone carrier reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.04. The company had revenue of $34.70 billion for the quarter, compared to the consensus estimate of $34.47 billion. Verizon Communications had a return on equity of 32.15% and a net margin of 14.76%. The company’s quarterly revenue was down .2% compared to the same quarter last year. During the same period last year, the business posted $1.13 EPS. Sell-side analysts forecast that Verizon Communications Inc. will post 4.77 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, February 1st. Investors of record on Friday, January 8th were issued a dividend of $0.6275 per share. The ex-dividend date was Thursday, January 7th. This represents a $2.51 annualized dividend and a dividend yield of 4.42%. Verizon Communications’s payout ratio is currently 52.18%.
Verizon Communications Profile
Verizon Communications Inc offers communications, 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, laptop computers and netbooks, and other wireless-enabled connected devices, such as smart watches and other wearables.
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