Good Life Advisors LLC lifted its holdings in shares of Verizon Communications (NYSE:VZ) by 8.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,899 shares of the cell phone carrier’s stock after purchasing an additional 2,832 shares during the period. Good Life Advisors LLC’s holdings in Verizon Communications were worth $1,823,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of VZ. Boston Partners raised its stake in Verizon Communications by 1,252.0% during the 4th quarter. Boston Partners now owns 7,986,475 shares of the cell phone carrier’s stock worth $422,724,000 after buying an additional 7,395,776 shares during the period. Bank of New York Mellon Corp raised its stake in Verizon Communications by 14.1% during the 4th quarter. Bank of New York Mellon Corp now owns 48,749,993 shares of the cell phone carrier’s stock worth $2,580,337,000 after buying an additional 6,007,544 shares during the period. Stifel Financial Corp raised its stake in Verizon Communications by 7,639.8% during the 3rd quarter. Stifel Financial Corp now owns 3,877,541 shares of the cell phone carrier’s stock worth $191,847,000 after buying an additional 3,827,442 shares during the period. BlackRock Inc. raised its stake in Verizon Communications by 0.8% during the 4th quarter. BlackRock Inc. now owns 265,904,768 shares of the cell phone carrier’s stock worth $14,074,340,000 after buying an additional 2,236,290 shares during the period. Finally, Ameriprise Financial Inc. raised its stake in Verizon Communications by 10.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 17,579,829 shares of the cell phone carrier’s stock worth $870,808,000 after buying an additional 1,606,984 shares during the period. 64.10% of the stock is currently owned by institutional investors and hedge funds.
Shares of Verizon Communications opened at $47.74 on Monday, MarketBeat.com reports. The company has a market capitalization of $197.07 billion, a PE ratio of 12.76, a P/E/G ratio of 1.91 and a beta of 0.62. Verizon Communications has a 52 week low of $42.80 and a 52 week high of $54.77. The company has a debt-to-equity ratio of 2.15, a current ratio of 0.98 and a quick ratio of 0.94.
Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Tuesday, April 24th. The cell phone carrier reported $1.17 EPS for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.06. The company had revenue of $31.77 billion during the quarter, compared to the consensus estimate of $31.25 billion. Verizon Communications had a return on equity of 42.62% and a net margin of 24.37%. Verizon Communications’s revenue was up 6.6% on a year-over-year basis. During the same period last year, the business posted $0.95 earnings per share. equities research analysts predict that Verizon Communications will post 4.56 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 1st. Investors of record on Tuesday, April 10th were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.94%. The ex-dividend date of this dividend was Monday, April 9th. Verizon Communications’s payout ratio is 63.10%.
A number of research analysts recently weighed in on VZ shares. Vetr raised Verizon Communications from a “hold” rating to a “buy” rating and set a $54.80 price target on the stock in a research note on Monday, February 5th. Barclays raised Verizon Communications from an “equal weight” rating to an “overweight” rating and set a $56.00 price target on the stock in a research note on Monday, April 23rd. Moffett Nathanson raised Verizon Communications from a “neutral” rating to a “buy” rating in a research note on Wednesday, February 28th. 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. Finally, UBS raised Verizon Communications from a “neutral” rating to a “buy” rating in a research note on Wednesday, April 25th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and sixteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $54.75.
In related news, SVP Anthony T. Skiadas sold 1,974 shares of the stock in a transaction that occurred on Tuesday, May 1st. The stock was sold at an average price of $49.44, for a total transaction of $97,594.56. Following the completion of the sale, the senior vice president now directly owns 16,060 shares of the company’s stock, valued at $794,006.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.09% of the company’s stock.
Verizon Communications 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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