Eads & Heald Wealth Management raised its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 2.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 31,959 shares of the cell phone carrier’s stock after purchasing an additional 829 shares during the quarter. Eads & Heald Wealth Management’s holdings in Verizon Communications were worth $1,797,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Daiwa SB Investments Ltd. boosted its holdings in shares of 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 during the period. Cascade Investment Advisors Inc. boosted its holdings in shares of Verizon Communications by 21.5% in the fourth quarter. Cascade Investment Advisors Inc. now owns 1,033 shares of the cell phone carrier’s stock valued at $58,000 after purchasing an additional 183 shares during the period. Advisors Preferred LLC purchased a new stake in shares of Verizon Communications in the fourth quarter valued at approximately $66,000. Advocacy Wealth Management Services LLC boosted its holdings in shares of 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 during the period. Finally, Lenox Wealth Management Inc. boosted its holdings in shares of Verizon Communications by 89.0% in the fourth quarter. Lenox Wealth Management Inc. now owns 1,482 shares of the cell phone carrier’s stock valued at $83,000 after purchasing an additional 698 shares during the period. Institutional investors and hedge funds own 67.12% of the company’s stock.
A number of analysts recently issued reports on the company. Royal Bank of Canada reiterated a “neutral” rating and issued a $57.00 price target on shares of Verizon Communications in a report on Tuesday, April 23rd. Bank of America set a $64.00 price target on Verizon Communications and gave the company a “buy” rating in a report on Tuesday, April 23rd. Goldman Sachs Group reiterated a “buy” rating and issued a $65.00 price target on shares of Verizon Communications in a report on Tuesday, April 23rd. Zacks Investment Research lowered Verizon Communications from a “buy” rating to a “hold” rating in a report on Monday, May 6th. Finally, ValuEngine lowered Verizon Communications from a “buy” rating to a “hold” rating in a report on Tuesday, January 29th. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $57.76.
Shares of NYSE:VZ opened at $56.81 on Thursday. The company has a market capitalization of $232.90 billion, a P/E ratio of 12.06, a price-to-earnings-growth ratio of 2.96 and a beta of 0.48. Verizon Communications Inc. has a 52 week low of $47.13 and a 52 week high of $61.58. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.83.
Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Tuesday, April 23rd. The cell phone carrier reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.03. The company had revenue of $32.13 billion during the quarter, compared to the consensus estimate of $32.13 billion. Verizon Communications had a net margin of 12.20% and a return on equity of 35.40%. Verizon Communications’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.17 earnings per share. On average, sell-side analysts predict that Verizon Communications Inc. will post 4.75 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th were paid a $0.6025 dividend. This represents a $2.41 dividend on an annualized basis and a yield of 4.24%. The ex-dividend date of this dividend was Tuesday, April 9th. Verizon Communications’s dividend payout ratio (DPR) is 51.17%.
In related news, EVP Craig L. Silliman sold 1,349 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $60.30, for a total value of $81,344.70. Following the completion of the transaction, the executive vice president now owns 29,426 shares of the company’s stock, valued at $1,774,387.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lowell C. Mcadam sold 285,988 shares of the business’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 transaction of $16,221,239.36. Following the completion of the transaction, the director now directly 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. Insiders sold 296,169 shares of company stock valued at $16,805,577 in the last three months. 0.03% of the stock is currently owned by insiders.
About Verizon Communications
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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