Measured Wealth Private Client Group LLC lessened its stake in Verizon Communications Inc. (NYSE:VZ) by 16.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,120 shares of the cell phone carrier’s stock after selling 1,798 shares during the period. Measured Wealth Private Client Group LLC’s holdings in Verizon Communications were worth $560,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kanawha Capital Management LLC lifted its stake in Verizon Communications by 0.8% during the second quarter. Kanawha Capital Management LLC now owns 167,032 shares of the cell phone carrier’s stock worth $9,543,000 after purchasing an additional 1,338 shares during the period. Arjuna Capital lifted its stake in Verizon Communications by 2.6% during the second quarter. Arjuna Capital now owns 42,965 shares of the cell phone carrier’s stock worth $2,455,000 after purchasing an additional 1,082 shares during the period. Pictet Asset Management Ltd. lifted its stake in Verizon Communications by 8.4% during the second quarter. Pictet Asset Management Ltd. now owns 4,132,673 shares of the cell phone carrier’s stock worth $236,100,000 after purchasing an additional 319,822 shares during the period. Jacobs Levy Equity Management Inc. bought a new position in Verizon Communications during the second quarter worth about $4,247,000. Finally, ETF Managers Group LLC bought a new position in Verizon Communications during the second quarter worth about $212,000. Institutional investors and hedge funds own 65.25% of the company’s stock.
NYSE VZ opened at $59.10 on Thursday. The firm has a market cap of $243.97 billion, a price-to-earnings ratio of 12.55, a PEG ratio of 3.71 and a beta of 0.51. The company has a 50 day moving average of $60.64 and a 200-day moving average of $59.01. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 1.99. Verizon Communications Inc. has a 1-year low of $52.28 and a 1-year high of $62.22.
Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Friday, October 25th. The cell phone carrier reported $1.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.24 by $0.01. The company had revenue of $32.89 billion during the quarter, compared to analyst estimates of $32.74 billion. Verizon Communications had a net margin of 12.26% and a return on equity of 34.50%. The company’s revenue was up .9% on a year-over-year basis. During the same quarter last year, the business posted $1.22 earnings per share. On average, analysts forecast that Verizon Communications Inc. will post 4.83 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be issued a dividend of $0.615 per share. This represents a $2.46 annualized dividend and a dividend yield of 4.16%. The ex-dividend date is Thursday, January 9th. Verizon Communications’s payout ratio is 52.23%.
A number of research analysts have commented on the stock. ValuEngine upgraded shares of Verizon Communications from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Zacks Investment Research cut shares of Verizon Communications from a “buy” rating to a “hold” rating and set a $62.00 price target for the company. in a research note on Saturday, January 11th. New Street Research restated a “buy” rating on shares of Verizon Communications in a research note on Friday, January 10th. Moffett Nathanson set a $57.00 price target on shares of Verizon Communications and gave the stock a “hold” rating in a research note on Friday, October 25th. Finally, Guggenheim raised their price target on shares of Verizon Communications from $65.00 to $69.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Verizon Communications presently has a consensus rating of “Hold” and a consensus price target of $63.44.
In related news, EVP Craig L. Silliman sold 1,346 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $59.55, for a total value of $80,154.30. Following the completion of the sale, the executive vice president now owns 18,637 shares of the company’s stock, valued at $1,109,833.35. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Craig L. Silliman sold 1,349 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $60.42, for a total transaction of $81,506.58. Following the completion of the sale, the executive vice president now directly owns 19,983 shares of the company’s stock, valued at approximately $1,207,372.86. The disclosure for this sale can be found here. Company insiders own 0.03% of the company’s stock.
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; 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.
Featured Story: What sectors are represented in the Nikkei Index?
Want to see what other hedge funds are holding VZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Verizon Communications Inc. (NYSE:VZ).
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.