Gamco Investors INC. ET AL trimmed its position in Verizon Communications Inc. (NYSE:VZ – Get Rating) by 3.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 165,118 shares of the cell phone carrier’s stock after selling 6,533 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Verizon Communications were worth $8,580,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Zacks Investment Management lifted its holdings in shares of Verizon Communications by 31.0% in the 3rd quarter. Zacks Investment Management now owns 1,858,570 shares of the cell phone carrier’s stock worth $100,381,000 after acquiring an additional 440,101 shares during the last quarter. Everett Harris & Co. CA lifted its holdings in shares of Verizon Communications by 6.2% in the 4th quarter. Everett Harris & Co. CA now owns 491,456 shares of the cell phone carrier’s stock worth $25,536,000 after acquiring an additional 28,710 shares during the last quarter. Quadrant Private Wealth Management LLC increased its stake in Verizon Communications by 4.4% during the 3rd quarter. Quadrant Private Wealth Management LLC now owns 47,483 shares of the cell phone carrier’s stock worth $2,565,000 after buying an additional 2,011 shares during the period. Morningstar Investment Services LLC increased its stake in Verizon Communications by 0.7% during the 3rd quarter. Morningstar Investment Services LLC now owns 535,067 shares of the cell phone carrier’s stock worth $29,084,000 after buying an additional 3,764 shares during the period. Finally, Maltin Wealth Management Inc. increased its stake in Verizon Communications by 45.0% during the 4th quarter. Maltin Wealth Management Inc. now owns 27,054 shares of the cell phone carrier’s stock worth $1,406,000 after buying an additional 8,393 shares during the period. Institutional investors own 63.78% of the company’s stock.
In related news, CEO Tami A. Erwin sold 23,647 shares of the firm’s stock in a transaction dated Tuesday, April 26th. The stock was sold at an average price of $49.77, for a total value of $1,176,911.19. Following the transaction, the chief executive officer now owns 21,817 shares in the company, valued at $1,085,832.09. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Craig L. Silliman sold 1,558 shares of the firm’s stock in a transaction dated Thursday, March 3rd. The shares were sold at an average price of $54.48, for a total value of $84,879.84. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,763 shares of company stock valued at $1,342,807. 0.10% of the stock is currently owned by corporate insiders.
Verizon Communications (NYSE:VZ – Get Rating) last released its quarterly earnings data on Friday, April 22nd. The cell phone carrier reported $1.35 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.35. Verizon Communications had a return on equity of 28.15% and a net margin of 15.93%. The firm had revenue of $33.60 billion during the quarter, compared to analyst estimates of $33.61 billion. During the same period in the prior year, the company posted $1.31 earnings per share. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, research analysts anticipate that Verizon Communications Inc. will post 5.4 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, May 2nd. Shareholders of record on Friday, April 8th were paid a dividend of $0.64 per share. The ex-dividend date of this dividend was Thursday, April 7th. This represents a $2.56 annualized dividend and a yield of 5.17%. Verizon Communications’s dividend payout ratio is currently 49.71%.
Several equities research analysts recently weighed in on VZ shares. William Blair reaffirmed a “market perform” rating on shares of Verizon Communications in a research note on Monday, April 25th. DZ Bank downgraded shares of Verizon Communications from a “hold” rating to a “sell” rating and set a $44.00 target price on the stock. in a research note on Friday, April 29th. The Goldman Sachs Group downgraded shares of Verizon Communications from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $61.00 to $55.00 in a research report on Monday, April 25th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Verizon Communications from $56.00 to $57.00 in a research report on Tuesday, January 25th. Finally, JPMorgan Chase & Co. downgraded shares of Verizon Communications from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $62.00 to $56.00 in a research report on Wednesday, January 26th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $57.93.
About Verizon Communications (Get Rating)
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.
- Get a free copy of the StockNews.com research report on Verizon Communications (VZ)
- MarketBeat: Week in Review 5/16 – 5/20
- 3 Retailers That Defied First Quarter Headwinds
- Rapid7: Could Be Profitable in FY 2022 Despite Bear Market
- Will John Deere’s Earnings Help to Calm the Markets?
- Lowe’s Companies Has Not Bottomed
Receive News & Ratings for Verizon Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verizon Communications and related companies with MarketBeat.com's FREE daily email newsletter.