Global Retirement Partners LLC boosted its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 3.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 35,959 shares of the cell phone carrier’s stock after purchasing an additional 1,294 shares during the quarter. Global Retirement Partners LLC’s holdings in Verizon Communications were worth $2,113,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Baron Financial Group LLC bought a new stake in Verizon Communications during the 3rd quarter valued at approximately $35,000. Avion Wealth raised its stake in Verizon Communications by 191.4% during the 3rd quarter. Avion Wealth now owns 609 shares of the cell phone carrier’s stock valued at $36,000 after purchasing an additional 400 shares during the period. Kathmere Capital Management LLC bought a new stake in Verizon Communications during the 3rd quarter valued at approximately $46,000. Stuart Chaussee & Associates Inc. raised its stake in Verizon Communications by 53.4% during the 3rd quarter. Stuart Chaussee & Associates Inc. now owns 1,224 shares of the cell phone carrier’s stock valued at $73,000 after purchasing an additional 426 shares during the period. Finally, Grace Capital bought a new stake in Verizon Communications during the 3rd quarter valued at approximately $78,000. 64.85% of the stock is currently owned by institutional investors.
In other Verizon Communications news, EVP Craig L. Silliman sold 10,411 shares of the company’s stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $57.73, for a total value of $601,027.03. Following the completion of the sale, the executive vice president now directly owns 23,771 shares in the company, valued at approximately $1,372,299.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.07% of the stock is currently owned by corporate insiders.
VZ has been the topic of a number of research reports. Tigress Financial reaffirmed a “hold” rating on shares of Verizon Communications in a research note on Sunday, November 1st. BidaskClub downgraded Verizon Communications from a “sell” rating to a “strong sell” rating in a research note on Wednesday, December 30th. JPMorgan Chase & Co. raised Verizon Communications from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $61.00 to $65.00 in a research note on Thursday, November 5th. Wells Fargo & Company initiated coverage on Verizon Communications in a research note on Monday, November 16th. They issued an “equal weight” rating and a $60.00 price objective on the stock. Finally, Oppenheimer initiated coverage on Verizon Communications in a research note on Tuesday, September 15th. They issued a “buy” rating and a $70.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Verizon Communications has a consensus rating of “Hold” and a consensus price target of $62.00.
VZ traded down $0.18 during trading hours on Wednesday, reaching $57.08. 766,590 shares of the company’s stock traded hands, compared to its average volume of 20,558,674. The firm has a 50-day moving average price of $59.74 and a 200 day moving average price of $58.63. Verizon Communications Inc. has a 52-week low of $48.84 and a 52-week high of $61.95. The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 1.66. The firm has a market capitalization of $236.20 billion, a PE ratio of 12.42, a PEG ratio of 3.54 and a beta of 0.44.
Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Wednesday, October 21st. The cell phone carrier reported $1.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.22 by $0.03. Verizon Communications had a return on equity of 32.15% and a net margin of 14.76%. The company had revenue of $31.50 billion during the quarter, compared to analysts’ expectations of $31.60 billion. During the same quarter in the previous year, the business earned $1.25 EPS. Verizon Communications’s revenue was down 4.2% compared to the same quarter last year. Equities analysts predict that Verizon Communications Inc. will post 4.77 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, February 1st. Shareholders of record on Friday, January 8th will be issued a $0.6275 dividend. This represents a $2.51 annualized dividend and a dividend yield of 4.40%. The ex-dividend date is Thursday, January 7th. Verizon Communications’s dividend payout ratio is 52.18%.
About Verizon Communications
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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