NS Partners Ltd reduced its position in Verizon Communications Inc. (NYSE:VZ) by 0.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 52,827 shares of the cell phone carrier’s stock after selling 18 shares during the period. NS Partners Ltd’s holdings in Verizon Communications were worth $2,575,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. HCR Wealth Advisors purchased a new stake in shares of Verizon Communications during the fourth quarter worth about $515,000. Guggenheim Capital LLC increased its stake in shares of Verizon Communications by 12.0% in the fourth quarter. Guggenheim Capital LLC now owns 2,094,415 shares of the cell phone carrier’s stock worth $111,800,000 after buying an additional 224,790 shares during the last quarter. Huff W R Asset Management Co. LLC DE increased its stake in shares of Verizon Communications by 17.5% in the fourth quarter. Huff W R Asset Management Co. LLC DE now owns 86,642 shares of the cell phone carrier’s stock worth $4,625,000 after buying an additional 12,918 shares during the last quarter. Banco Santander S.A. purchased a new stake in shares of Verizon Communications during the fourth quarter worth about $16,051,000. Finally, Ancora Advisors LLC increased its stake in shares of Verizon Communications by 31.0% in the fourth quarter. Ancora Advisors LLC now owns 148,042 shares of the cell phone carrier’s stock worth $7,903,000 after buying an additional 35,054 shares during the last quarter. 62.35% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Verizon Communications Inc. (VZ) traded down 0.1793% during mid-day trading on Friday, reaching $47.9339. The company had a trading volume of 3,055,117 shares. The stock has a market capitalization of $195.54 billion, a price-to-earnings ratio of 12.3223 and a beta of 0.56. The firm has a 50-day moving average price of $45.48 and a 200-day moving average price of $47.37. Verizon Communications Inc. has a 1-year low of $42.80 and a 1-year high of $54.83.
Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Thursday, July 27th. The cell phone carrier reported $0.96 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.96. The company had revenue of $30.55 billion for the quarter, compared to the consensus estimate of $29.84 billion. Verizon Communications had a return on equity of 63.06% and a net margin of 12.88%. Verizon Communications’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.94 EPS. Equities analysts expect that Verizon Communications Inc. will post $3.79 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were given a $0.5775 dividend. This represents a $2.31 annualized dividend and a yield of 4.81%. The ex-dividend date of this dividend was Thursday, July 6th. Verizon Communications’s dividend payout ratio (DPR) is presently 59.23%.
VZ has been the topic of several research analyst reports. SunTrust Banks, Inc. initiated coverage on shares of Verizon Communications in a research report on Tuesday, April 18th. They issued a “hold” rating and a $50.00 price objective on the stock. Barclays PLC decreased their price objective on shares of Verizon Communications from $52.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 13th. Argus cut shares of Verizon Communications from a “buy” rating to a “hold” rating in a research report on Friday, April 21st. BidaskClub upgraded shares of Verizon Communications from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Finally, TheStreet upgraded shares of Verizon Communications from a “c+” rating to a “b-” rating in a research report on Tuesday. Two analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $52.73.
In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of the company’s stock in a transaction on Tuesday, June 27th. The stock was sold at an average price of $45.00, for a total value of $27,450.00. Following the transaction, the executive vice president now owns 8,429 shares of the company’s stock, valued at approximately $379,305. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 1,830 shares of company stock worth $84,229 in the last ninety days. 0.13% 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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