Altus Wealth Group LLC increased its stake in Verizon Communications Inc. (NYSE:VZ – Get Rating) by 8.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,039 shares of the cell phone carrier’s stock after acquiring an additional 926 shares during the period. Altus Wealth Group LLC’s holdings in Verizon Communications were worth $613,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of the business. Rinkey Investments acquired a new position in Verizon Communications in the fourth quarter worth $27,000. Lansing Street Advisors bought a new stake in shares of Verizon Communications during the first quarter valued at about $35,000. Conrad Siegel Investment Advisors Inc. bought a new stake in Verizon Communications in the first quarter worth about $36,000. Gibson Wealth Advisors LLC bought a new stake in Verizon Communications in the fourth quarter worth about $37,000. Finally, Morton Brown Family Wealth LLC raised its position in Verizon Communications by 109.2% in the first quarter. Morton Brown Family Wealth LLC now owns 726 shares of the cell phone carrier’s stock worth $37,000 after acquiring an additional 379 shares in the last quarter. Hedge funds and other institutional investors own 63.78% of the company’s stock.
Insider Buying and Selling
In related news, EVP Craig L. Silliman sold 1,558 shares of the stock in a transaction on Friday, June 3rd. The stock was sold at an average price of $50.94, for a total value of $79,364.52. Following the sale, the executive vice president now owns 34,961 shares in the company, valued at $1,780,913.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last quarter, insiders have sold 4,674 shares of company stock worth $237,377. Corporate insiders own 0.02% of the company’s stock.
Wall Street Analyst Weigh In
Verizon Communications Stock Performance
Shares of VZ stock traded down $0.08 during trading on Tuesday, hitting $44.46. The company’s stock had a trading volume of 219,530 shares, compared to its average volume of 21,829,402. The company has a market cap of $186.72 billion, a PE ratio of 8.93, a P/E/G ratio of 2.14 and a beta of 0.33. The company has a current ratio of 0.76, a quick ratio of 0.69 and a debt-to-equity ratio of 1.56. The business has a fifty day moving average of $49.26 and a 200-day moving average of $50.92. Verizon Communications Inc. has a 52 week low of $43.76 and a 52 week high of $56.20.
Verizon Communications (NYSE:VZ – Get Rating) last announced its quarterly earnings data on Friday, July 22nd. The cell phone carrier reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.01). Verizon Communications had a net margin of 15.48% and a return on equity of 26.95%. The firm had revenue of $33.79 billion for the quarter, compared to the consensus estimate of $33.77 billion. During the same period last year, the company posted $1.37 earnings per share. Verizon Communications’s revenue for the quarter was up .1% on a year-over-year basis. As a group, research analysts anticipate that Verizon Communications Inc. will post 5.2 earnings per share for the current year.
Verizon Communications Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 1st. Investors of record on Friday, July 8th were given a $0.64 dividend. The ex-dividend date was Thursday, July 7th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 5.76%. Verizon Communications’s dividend payout ratio (DPR) is presently 51.30%.
Verizon Communications Company Profile
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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