Calamos Advisors LLC Boosts Stake in Verizon Communications Inc. (NYSE:VZ)


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Calamos Advisors LLC grew its stake in Verizon Communications Inc. (NYSE:VZ) by 3.2% during the first quarter, HoldingsChannel.com reports. The firm owned 633,351 shares of the cell phone carrier’s stock after purchasing an additional 19,571 shares during the period. Calamos Advisors LLC’s holdings in Verizon Communications were worth $36,829,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of VZ. Wealth Alliance raised its stake in Verizon Communications by 7.5% during the third quarter. Wealth Alliance now owns 46,961 shares of the cell phone carrier’s stock worth $2,794,000 after acquiring an additional 3,283 shares during the period. IHT Wealth Management LLC raised its stake in Verizon Communications by 18.4% during the third quarter. IHT Wealth Management LLC now owns 66,794 shares of the cell phone carrier’s stock worth $3,974,000 after acquiring an additional 10,383 shares during the period. Chiron Capital Management LLC acquired a new stake in Verizon Communications during the third quarter worth about $217,000. Jeppson Wealth Management LLC acquired a new stake in Verizon Communications during the third quarter worth about $1,825,000. Finally, Paces Ferry Wealth Advisors LLC bought a new position in shares of Verizon Communications in the third quarter valued at approximately $218,000. Institutional investors and hedge funds own 64.85% of the company’s stock.

Verizon Communications stock opened at $57.54 on Tuesday. The company has a market capitalization of $238.22 billion, a P/E ratio of 12.48, a P/E/G ratio of 3.54 and a beta of 0.44. The firm’s fifty day simple moving average is $56.82 and its 200-day simple moving average is $58.00. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 1.66. Verizon Communications Inc. has a 1-year low of $52.85 and a 1-year high of $61.95.

Verizon Communications (NYSE:VZ) last posted its earnings results on Monday, January 25th. The cell phone carrier reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.04. Verizon Communications had a net margin of 14.76% and a return on equity of 32.15%. The business had revenue of $34.70 billion for the quarter, compared to analyst estimates of $34.47 billion. During the same period last year, the business posted $1.13 EPS. Verizon Communications’s revenue was down .2% compared to the same quarter last year. On average, equities research analysts predict that Verizon Communications Inc. will post 4.77 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, May 3rd. Investors of record on Friday, April 9th will be paid a $0.6275 dividend. The ex-dividend date of this dividend is Thursday, April 8th. This represents a $2.51 dividend on an annualized basis and a yield of 4.36%. Verizon Communications’s payout ratio is presently 52.18%.

Several research analysts have recently issued reports on the stock. Scotiabank cut shares of Verizon Communications from an “outperform” rating to a “sector perform” rating in a report on Thursday, February 25th. Tigress Financial upgraded shares of Verizon Communications from a “neutral” rating to a “buy” rating in a report on Tuesday, March 30th. Credit Suisse Group reduced their target price on shares of Verizon Communications from $61.00 to $59.00 and set a “neutral” rating for the company in a report on Tuesday, January 19th. Bank of America restated a “buy” rating and set a $64.00 target price on shares of Verizon Communications in a report on Thursday, March 11th. Finally, Oppenheimer restated a “market perform” rating on shares of Verizon Communications in a report on Wednesday, March 3rd. Eleven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $62.06.

In related news, EVP Craig L. Silliman sold 1,555 shares of the firm’s stock in a transaction on Monday, April 5th. The shares were sold at an average price of $58.53, for a total value of $91,014.15. Following the transaction, the executive vice president now directly owns 36,242 shares in the company, valued at approximately $2,121,244.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.07% of the company’s stock.

About Verizon Communications

Verizon Communications Inc offers communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. Its Consumer segment provides postpaid and prepaid service plans; internet access on notebook computers and tablets; wireless equipment, including smartphones and other handsets; and wireless-enabled internet devices, such as tablets, and other wireless-enabled connected devices, such as smart watches.

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Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

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