Elkfork Partners LLC bought a new position in Verizon Communications Inc. (NYSE:VZ) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm bought 212,772 shares of the cell phone carrier’s stock, valued at approximately $11,358,000.
Other large investors have also recently added to or reduced their stakes in the company. Guidant Wealth Advisors bought a new stake in shares of Verizon Communications during the third quarter worth approximately $107,000. Solaris Asset Management LLC bought a new stake in shares of Verizon Communications during the third quarter worth approximately $125,000. Lowe fs LLC increased its stake in shares of Verizon Communications by 3.0% in the third quarter. Lowe fs LLC now owns 2,426 shares of the cell phone carrier’s stock worth $126,000 after buying an additional 70 shares during the period. Ruggie Capital Group increased its stake in shares of Verizon Communications by 0.3% in the third quarter. Ruggie Capital Group now owns 2,649 shares of the cell phone carrier’s stock worth $137,000 after buying an additional 9 shares during the period. Finally, Daiwa SB Investments Ltd. increased its stake in shares of Verizon Communications by 11,938.5% in the third quarter. Daiwa SB Investments Ltd. now owns 3,130 shares of the cell phone carrier’s stock worth $163,000 after buying an additional 3,104 shares during the period. Hedge funds and other institutional investors own 63.38% of the company’s stock.
Verizon Communications Inc. (NYSE:VZ) traded down 2.40% during midday trading on Friday, hitting $47.25. 32,837,107 shares of the company traded hands. The company has a market capitalization of $192.63 billion, a price-to-earnings ratio of 14.72 and a beta of 0.43. Verizon Communications Inc. has a 12-month low of $46.01 and a 12-month high of $56.95. The stock’s 50-day moving average price is $49.32 and its 200 day moving average price is $49.96. Verizon Communications also saw some unusual options trading activity on Tuesday. Stock traders acquired 42,074 call options on the company. This is an increase of 391% compared to the typical daily volume of 8,574 call options.
Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Thursday, April 20th. The cell phone carrier reported $0.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.98 by $0.03. Verizon Communications had a return on equity of 72.75% and a net margin of 10.42%. The company had revenue of $29.81 billion for the quarter, compared to analysts’ expectations of $30.41 billion. During the same quarter last year, the business posted $1.06 EPS. The business’s quarterly revenue was down 7.3% on a year-over-year basis. On average, equities analysts forecast that Verizon Communications Inc. will post $3.81 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 1st. Investors of record on Monday, April 10th will be issued a dividend of $0.5775 per share. The ex-dividend date of this dividend is Thursday, April 6th. This represents a $2.31 dividend on an annualized basis and a yield of 4.89%. Verizon Communications’s dividend payout ratio (DPR) is presently 71.74%.
VZ has been the subject of a number of recent research reports. Vetr downgraded Verizon Communications from a “buy” rating to a “hold” rating and set a $52.38 price objective for the company. in a research report on Monday, January 2nd. Citigroup Inc upgraded Verizon Communications from a “neutral” rating to a “buy” rating and increased their price objective for the company from $52.25 to $53.38 in a research report on Tuesday, January 3rd. Drexel Hamilton downgraded shares of Verizon Communications from a “buy” rating to a “hold” rating in a research note on Friday, January 6th. BTIG Research reissued a “neutral” rating on shares of Verizon Communications in a research note on Thursday, January 12th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $53.00 target price on shares of Verizon Communications in a research note on Monday, January 16th. One analyst has rated the stock with a sell rating, twenty-three have given a hold rating and seven have given a buy rating to the stock. Verizon Communications has an average rating of “Hold” and an average price target of $54.23.
In other news, EVP Craig L. Silliman sold 610 shares of Verizon Communications stock in a transaction dated Monday, March 27th. The shares were sold at an average price of $49.66, for a total value of $30,292.60. Following the completion of the transaction, the executive vice president now owns 10,259 shares in the company, valued at $509,461.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Marni M. Walden sold 32,254 shares of Verizon Communications stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $49.92, for a total transaction of $1,610,119.68. Following the completion of the transaction, the executive vice president now owns 28,159 shares of the company’s stock, valued at approximately $1,405,697.28. The disclosure for this sale can be found here. Insiders have sold 56,163 shares of company stock valued at $2,786,879 in the last 90 days. 0.10% of the stock is currently owned by corporate insiders.
About Verizon Communications
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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