Burns J W & Co. Inc. NY reduced its position in Verizon Communications Inc. (NYSE:VZ) by 1.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 84,762 shares of the cell phone carrier’s stock after selling 1,629 shares during the quarter. Verizon Communications makes up about 1.3% of Burns J W & Co. Inc. NY’s investment portfolio, making the stock its 22nd biggest holding. Burns J W & Co. Inc. NY’s holdings in Verizon Communications were worth $4,765,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the stock. Daiwa SB Investments Ltd. lifted its position in Verizon Communications by 120.0% during the 4th quarter. Daiwa SB Investments Ltd. now owns 880 shares of the cell phone carrier’s stock worth $49,000 after buying an additional 480 shares in the last quarter. Advisors Preferred LLC purchased a new stake in shares of Verizon Communications in the 4th quarter valued at $66,000. Advocacy Wealth Management Services LLC grew its holdings in shares of Verizon Communications by 25.9% during the 4th 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 during the last quarter. Mackey Komara & Dankovich LLC bought a new position in shares of Verizon Communications during the 4th quarter valued at $86,000. Finally, Highwater Wealth Management LLC purchased a new position in Verizon Communications in the 4th quarter worth $87,000. 66.90% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:VZ opened at $59.09 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.91 and a debt-to-equity ratio of 1.94. The stock has a market cap of $243.51 billion, a PE ratio of 12.55, a PEG ratio of 3.07 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 announced its quarterly earnings results on Tuesday, January 29th. The cell phone carrier reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.03. The company had revenue of $34.28 billion for the quarter, compared to the consensus estimate of $34.45 billion. Verizon Communications had a return on equity of 35.96% and a net margin of 11.87%. Verizon Communications’s revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.86 EPS. On average, equities analysts anticipate that Verizon Communications Inc. will post 4.66 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be given a $0.6025 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $2.41 dividend on an annualized basis and a dividend yield of 4.08%. Verizon Communications’s dividend payout ratio is currently 51.17%.
In related news, EVP Craig L. Silliman sold 1,349 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $57.12, for a total transaction of $77,054.88. Following the completion of the transaction, the executive vice president now owns 25,549 shares in the company, valued at $1,459,358.88. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Lowell C. Mcadam sold 285,988 shares of the company’s stock in a transaction that occurred on Tuesday, February 26th. The shares were sold at an average price of $56.72, for a total value of $16,221,239.36. Following the transaction, the director now owns 362,932 shares of the company’s stock, valued at approximately $20,585,503.04. The disclosure for this sale can be found here. Over the last quarter, insiders sold 288,686 shares of company stock worth $16,379,639. Corporate insiders own 0.03% of the company’s stock.
Several research firms have issued reports on VZ. JPMorgan Chase & Co. lowered shares of Verizon Communications from an “overweight” rating to a “neutral” rating and set a $59.89 price target for the company. in a research report on Sunday, December 9th. Morgan Stanley downgraded Verizon Communications from an “overweight” rating to an “equal weight” rating and set a $58.00 price objective on the stock. in a report on Wednesday, December 12th. ValuEngine lowered Verizon Communications from a “buy” rating to a “hold” rating in a research note on Tuesday, January 29th. Tigress Financial restated a “hold” rating on shares of Verizon Communications in a report on Friday, December 28th. Finally, Zacks Investment Research upgraded Verizon Communications from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a research report on Saturday, January 26th. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $56.07.
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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.
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