Krueger & Catalano Capital Partners LLC raised its holdings in Verizon Communications Inc. (NYSE:VZ) by 4.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 24,861 shares of the cell phone carrier’s stock after purchasing an additional 1,171 shares during the quarter. Krueger & Catalano Capital Partners LLC’s holdings in Verizon Communications were worth $1,526,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Financial Gravity Wealth Inc. lifted its position in Verizon Communications by 4.5% in the third quarter. Financial Gravity Wealth Inc. now owns 3,942 shares of the cell phone carrier’s stock valued at $238,000 after purchasing an additional 169 shares during the period. Albert D Mason Inc. boosted its holdings in Verizon Communications by 0.7% in the 3rd quarter. Albert D Mason Inc. now owns 23,439 shares of the cell phone carrier’s stock valued at $1,415,000 after purchasing an additional 170 shares in the last quarter. SMH Capital Advisors Inc. increased its position in Verizon Communications by 4.6% during the 3rd quarter. SMH Capital Advisors Inc. now owns 3,919 shares of the cell phone carrier’s stock worth $237,000 after purchasing an additional 172 shares during the period. Nadler Financial Group Inc. increased its position in Verizon Communications by 1.2% during the 3rd quarter. Nadler Financial Group Inc. now owns 15,114 shares of the cell phone carrier’s stock worth $912,000 after purchasing an additional 174 shares during the period. Finally, Comprehensive Portfolio Management LLC increased its position in Verizon Communications by 2.1% during the 4th quarter. Comprehensive Portfolio Management LLC now owns 8,361 shares of the cell phone carrier’s stock worth $513,000 after purchasing an additional 174 shares during the period. Institutional investors own 65.24% of the company’s stock.
In related news, EVP Craig L. Silliman sold 1,346 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $59.55, for a total value of $80,154.30. Following the sale, the executive vice president now directly owns 18,637 shares of the company’s stock, valued at approximately $1,109,833.35. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Craig L. Silliman sold 1,349 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $60.42, for a total transaction of $81,506.58. Following the transaction, the executive vice president now owns 19,983 shares of the company’s stock, valued at $1,207,372.86. The disclosure for this sale can be found here. 0.03% of the stock is currently owned by insiders.
VZ has been the subject of several recent analyst reports. Nomura cut Verizon Communications from a “buy” rating to a “neutral” rating and reduced their price target for the company from $67.00 to $65.00 in a report on Monday, November 4th. ValuEngine upgraded Verizon Communications from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Zacks Investment Research lowered Verizon Communications from a “buy” rating to a “hold” rating and set a $62.00 price objective on the stock. in a report on Saturday, January 11th. New Street Research reiterated a “buy” rating on shares of Verizon Communications in a research report on Friday, January 10th. Finally, HSBC downgraded Verizon Communications from a “buy” rating to a “hold” rating and set a $65.00 target price for the company. in a report on Thursday, November 14th. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $63.44.
VZ stock opened at $60.32 on Wednesday. The firm has a 50 day moving average of $60.63 and a 200-day moving average of $59.10. Verizon Communications Inc. has a 12-month low of $52.28 and a 12-month high of $62.22. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 1.99. The company has a market cap of $248.68 billion, a price-to-earnings ratio of 15.51, a PEG ratio of 3.78 and a beta of 0.51.
Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Friday, October 25th. The cell phone carrier reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.01. Verizon Communications had a return on equity of 34.50% and a net margin of 12.26%. The business had revenue of $32.89 billion for the quarter, compared to analysts’ expectations of $32.74 billion. During the same quarter in the prior year, the firm posted $1.22 EPS. The company’s revenue was up .9% compared to the same quarter last year. Sell-side analysts forecast that Verizon Communications Inc. will post 4.83 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be issued a dividend of $0.615 per share. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $2.46 annualized dividend and a yield of 4.08%. Verizon Communications’s dividend payout ratio is presently 52.23%.
About Verizon Communications
Verizon Communications Inc, through its subsidiaries, offers communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company's Wireless segment provides wireless voice and data services; Internet access on various notebook computers and tablets; international travel wireless services; and network access services to deliver various Internet of Things products and services, as well as offers digital advertising and digital media services platforms.
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