Madison Investment Holdings Inc. lessened its stake in shares of Verizon Communications (NYSE:VZ) by 5.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 404,696 shares of the cell phone carrier’s stock after selling 24,930 shares during the quarter. Madison Investment Holdings Inc.’s holdings in Verizon Communications were worth $21,421,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in VZ. Exane Derivatives purchased a new position in shares of Verizon Communications during the 4th quarter worth $103,000. Stelac Advisory Services LLC purchased a new position in shares of Verizon Communications during the 4th quarter worth $111,000. Delphi Private Advisors LLC purchased a new position in shares of Verizon Communications during the 4th quarter worth $141,000. Tower View Investment Management & Research LLC purchased a new position in shares of Verizon Communications during the 4th quarter worth $193,000. Finally, Riverbridge Partners LLC purchased a new position in shares of Verizon Communications during the 4th quarter worth $201,000. Hedge funds and other institutional investors own 64.10% of the company’s stock.
Verizon Communications opened at $47.85 on Friday, MarketBeat reports. The company has a debt-to-equity ratio of 2.15, a quick ratio of 0.94 and a current ratio of 0.98. Verizon Communications has a 12 month low of $47.65 and a 12 month high of $48.02. The stock has a market capitalization of $197.28 billion, a price-to-earnings ratio of 12.79, a P/E/G ratio of 1.91 and a beta of 0.62.
Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Tuesday, April 24th. The cell phone carrier reported $1.17 EPS for the quarter, beating the consensus estimate of $1.11 by $0.06. Verizon Communications had a return on equity of 42.62% and a net margin of 24.37%. The company had revenue of $31.77 billion for the quarter, compared to analyst estimates of $31.25 billion. During the same period last year, the company posted $0.95 earnings per share. The firm’s revenue was up 6.6% compared to the same quarter last year. equities research analysts anticipate that Verizon Communications will post 4.57 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 1st. Shareholders of record on Tuesday, April 10th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 4.93%. The ex-dividend date of this dividend was Monday, April 9th. Verizon Communications’s dividend payout ratio (DPR) is presently 63.10%.
In other Verizon Communications news, SVP Anthony T. Skiadas sold 1,974 shares of the firm’s stock in a transaction dated Tuesday, May 1st. The stock was sold at an average price of $49.44, for a total value of $97,594.56. Following the transaction, the senior vice president now directly owns 16,060 shares of the company’s stock, valued at $794,006.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.09% of the company’s stock.
VZ has been the topic of a number of recent analyst reports. HSBC raised Verizon Communications from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research note on Wednesday, March 28th. Vetr raised Verizon Communications from a “buy” rating to a “strong-buy” rating and set a $53.82 price target on the stock in a research note on Tuesday, March 20th. Scotiabank raised Verizon Communications from a “sector perform” rating to a “buy” rating and set a $60.00 price target on the stock in a research note on Monday, January 22nd. Nomura increased their target price on Verizon Communications from $61.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. Finally, Scotia Howard Weill raised Verizon Communications from a “sector perform” rating to a “sector outperform” rating in a research report on Monday, January 22nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and sixteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $54.75.
Verizon Communications Company Profile
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; multimedia, business-focused, and location-based services, as well as international travel services; and network access services to deliver various Internet of Things products and services.
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