Signaturefd LLC raised its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 33.4% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 22,029 shares of the cell phone carrier’s stock after buying an additional 5,513 shares during the period. Signaturefd LLC’s holdings in Verizon Communications were worth $1,074,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in VZ. Huff W R Asset Management Co. LLC DE boosted its stake in shares of Verizon Communications by 17.5% in the fourth quarter. Huff W R Asset Management Co. LLC DE now owns 86,642 shares of the cell phone carrier’s stock valued at $4,625,000 after buying an additional 12,918 shares during the last quarter. Excalibur Management Corp boosted its stake in shares of Verizon Communications by 5.7% in the first quarter. Excalibur Management Corp now owns 123,976 shares of the cell phone carrier’s stock valued at $6,044,000 after buying an additional 6,723 shares during the last quarter. Beutel Goodman & Co Ltd. boosted its stake in shares of Verizon Communications by 6.8% in the first quarter. Beutel Goodman & Co Ltd. now owns 4,358,480 shares of the cell phone carrier’s stock valued at $179,129,000 after buying an additional 277,129 shares during the last quarter. Edge Wealth Management LLC boosted its stake in shares of Verizon Communications by 1.4% in the first quarter. Edge Wealth Management LLC now owns 283,113 shares of the cell phone carrier’s stock valued at $13,824,000 after buying an additional 3,887 shares during the last quarter. Finally, Congress Asset Management Co. MA acquired a new stake in shares of Verizon Communications during the fourth quarter valued at approximately $8,037,000. Institutional investors and hedge funds own 62.35% of the company’s stock.
Verizon Communications Inc. (NYSE:VZ) traded up 0.08% during midday trading on Friday, hitting $48.06. 10,420,529 shares of the stock were exchanged. Verizon Communications Inc. has a one year low of $42.80 and a one year high of $54.83. The firm has a 50-day moving average price of $45.56 and a 200-day moving average price of $47.34. The stock has a market cap of $196.06 billion, a P/E ratio of 12.35 and a beta of 0.56.
Verizon Communications (NYSE:VZ) last announced its quarterly earnings results on Thursday, July 27th. The cell phone carrier reported $0.96 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.96. Verizon Communications had a return on equity of 63.06% and a net margin of 12.88%. The business had revenue of $30.55 billion during the quarter, compared to analysts’ expectations of $29.84 billion. During the same quarter last year, the business posted $0.94 earnings per share. The business’s revenue for the quarter was up .1% on a year-over-year basis. On average, equities research analysts anticipate that Verizon Communications Inc. will post $3.79 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th were given a $0.5775 dividend. This represents a $2.31 dividend on an annualized basis and a dividend yield of 4.81%. The ex-dividend date was Thursday, July 6th. Verizon Communications’s dividend payout ratio is currently 59.23%.
Several analysts have commented on VZ shares. TheStreet cut shares of Verizon Communications from a “b-” rating to a “c” rating in a research note on Thursday, April 27th. Goldman Sachs Group, Inc. (The) restated a “neutral” rating on shares of Verizon Communications in a research note on Wednesday, June 28th. Vetr upgraded shares of Verizon Communications from a “buy” rating to a “strong-buy” rating and set a $50.65 price objective for the company in a research note on Wednesday, July 5th. Macquarie restated a “neutral” rating and set a $49.00 price objective (down from $50.00) on shares of Verizon Communications in a research note on Sunday, April 23rd. Finally, Jefferies Group LLC restated a “hold” rating and set a $50.00 price objective (down from $51.00) on shares of Verizon Communications in a research note on Sunday, April 23rd. Two investment analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $52.73.
In related news, EVP Craig L. Silliman sold 610 shares of Verizon Communications stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $45.00, for a total transaction of $27,450.00. Following the completion of the sale, the executive vice president now owns 8,429 shares in the company, valued at approximately $379,305. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last quarter, insiders have sold 1,830 shares of company stock valued at $84,229. 0.13% of the stock is currently owned by company insiders.
About Verizon Communications
Verizon Communications Inc is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. Its segments include Wireless and Wireline. The Wireless segment offers communications products and services, including wireless voice and data services and equipment sales, to consumer, business and government customers across the United States.
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