Rossmore Private Capital cut its position in Verizon Communications Inc. (NYSE:VZ) by 5.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,561 shares of the cell phone carrier’s stock after selling 525 shares during the quarter. Rossmore Private Capital’s holdings in Verizon Communications were worth $481,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in VZ. Daiwa SB Investments Ltd. raised its stake in Verizon Communications by 120.0% in the fourth quarter. Daiwa SB Investments Ltd. now owns 880 shares of the cell phone carrier’s stock valued at $49,000 after purchasing an additional 480 shares in the last quarter. Advisors Preferred LLC acquired a new position in Verizon Communications in the fourth quarter valued at about $66,000. Advocacy Wealth Management Services LLC raised its stake in Verizon Communications by 25.9% in the fourth quarter. Advocacy Wealth Management Services LLC now owns 1,265 shares of the cell phone carrier’s stock valued at $71,000 after purchasing an additional 260 shares in the last quarter. Mackey Komara & Dankovich LLC acquired a new position in Verizon Communications in the fourth quarter valued at about $86,000. Finally, Highwater Wealth Management LLC acquired a new position in Verizon Communications in the fourth quarter valued at about $87,000. 66.97% of the stock is owned by institutional investors and hedge funds.
In other news, Director Lowell C. Mcadam sold 285,988 shares of the company’s stock in a transaction that occurred on Tuesday, February 26th. The stock was sold at an average price of $56.72, for a total value of $16,221,239.36. Following the completion of the transaction, the director now owns 362,932 shares of the company’s stock, valued at $20,585,503.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Craig L. Silliman sold 1,349 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $57.12, for a total value of $77,054.88. Following the completion of the transaction, the executive vice president now directly owns 25,549 shares of the company’s stock, valued at approximately $1,459,358.88. The disclosure for this sale can be found here. Insiders sold 288,686 shares of company stock valued at $16,379,639 in the last ninety days. 0.03% of the stock is currently owned by insiders.
Shares of NYSE VZ opened at $58.79 on Wednesday. The company has a debt-to-equity ratio of 1.94, a current ratio of 0.91 and a quick ratio of 0.88. The stock has a market cap of $242.35 billion, a price-to-earnings ratio of 12.48, a price-to-earnings-growth ratio of 2.62 and a beta of 0.51. Verizon Communications Inc. has a 12 month low of $46.08 and a 12 month high of $61.58.
Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Tuesday, January 29th. The cell phone carrier reported $1.12 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.09 by $0.03. Verizon Communications had a return on equity of 35.96% and a net margin of 11.87%. The company had revenue of $34.28 billion during the quarter, compared to the consensus estimate of $34.45 billion. During the same quarter in the prior year, the firm posted $0.86 earnings per share. The firm’s revenue was up 1.0% compared to the same quarter last year. On average, sell-side analysts predict that Verizon Communications Inc. will post 4.66 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be paid a $0.6025 dividend. This represents a $2.41 annualized dividend and a dividend yield of 4.10%. The ex-dividend date of this dividend is Tuesday, April 9th. Verizon Communications’s dividend payout ratio is currently 51.17%.
A number of research firms recently commented on VZ. Zacks Investment Research raised Verizon Communications from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a research note on Saturday, January 26th. Tigress Financial reaffirmed a “hold” rating on shares of Verizon Communications in a research note on Friday, December 28th. Finally, ValuEngine downgraded Verizon Communications from a “buy” rating to a “hold” rating in a research note on Tuesday, January 29th. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $56.07.
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Verizon Communications Profile
Verizon Communications, Inc is a holding company, which engages in the provision communications, information and entertainment products and services to consumers, businesses and governmental agencies. It operates through Wireless and Wireline segments. The Wireless segment provides wireless voice and data services and equipment sales, which are provided to consumer, business, and government customers.
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