Campbell Capital Management Inc. bought a new stake in shares of Verizon Communications Inc. (NYSE:VZ) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 105,790 shares of the cell phone carrier’s stock, valued at approximately $6,152,000. Verizon Communications accounts for about 2.8% of Campbell Capital Management Inc.’s portfolio, making the stock its 14th largest position.
Other large investors have also bought and sold shares of the company. Klaas Financial Asset Advisors LLC acquired a new stake in shares of Verizon Communications during the 4th quarter valued at about $26,000. New Capital Management LP boosted its holdings in Verizon Communications by 60.3% in the 4th quarter. New Capital Management LP now owns 481 shares of the cell phone carrier’s stock worth $28,000 after buying an additional 181 shares during the last quarter. Capital Directions Investment Advisors LLC boosted its holdings in Verizon Communications by 100.0% in the 4th quarter. Capital Directions Investment Advisors LLC now owns 600 shares of the cell phone carrier’s stock worth $36,000 after buying an additional 300 shares during the last quarter. Alpha DNA Investment Management LLC acquired a new stake in Verizon Communications in the 4th quarter worth about $40,000. Finally, Curi Capital acquired a new stake in Verizon Communications in the 4th quarter worth about $40,000. Hedge funds and other institutional investors own 64.85% of the company’s stock.
Several equities research analysts recently issued reports on the company. Oppenheimer reiterated a “market perform” rating on shares of Verizon Communications in a report on Wednesday, March 3rd. Tigress Financial upgraded Verizon Communications from a “neutral” rating to a “buy” rating in a report on Tuesday, March 30th. Bank of America reiterated a “buy” rating and issued a $64.00 price objective on shares of Verizon Communications in a report on Thursday, March 11th. Credit Suisse Group lowered their price objective on Verizon Communications from $61.00 to $59.00 and set a “neutral” rating on the stock in a report on Tuesday, January 19th. Finally, Scotiabank lowered shares of Verizon Communications from an “outperform” rating to a “sector perform” rating in a research note on Thursday, February 25th. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $62.06.
Shares of VZ stock traded down $1.32 during trading on Thursday, hitting $57.68. 309,622 shares of the stock traded hands, compared to its average volume of 20,359,465. The firm has a market capitalization of $238.80 billion, a P/E ratio of 12.80, a price-to-earnings-growth ratio of 3.54 and a beta of 0.44. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.96 and a quick ratio of 0.93. The firm’s fifty day moving average price is $56.65 and its 200-day moving average price is $58.04. Verizon Communications Inc. has a 52-week low of $52.85 and a 52-week high of $61.95.
Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Monday, January 25th. The cell phone carrier reported $1.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.04. The firm had revenue of $34.70 billion for the quarter, compared to analyst estimates of $34.47 billion. Verizon Communications had a net margin of 14.76% and a return on equity of 32.15%. The business’s revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.13 EPS. As a group, equities research analysts expect 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. Shareholders of record on Friday, April 9th will be given a $0.6275 dividend. This represents a $2.51 dividend on an annualized basis and a yield of 4.35%. The ex-dividend date of this dividend is Thursday, April 8th. Verizon Communications’s payout ratio is 52.18%.
In other Verizon Communications news, EVP Craig L. Silliman sold 1,555 shares of the business’s stock in a transaction that occurred on Thursday, March 4th. The stock was sold at an average price of $55.60, for a total value of $86,458.00. Following the sale, the executive vice president now owns 27,256 shares of the company’s stock, valued at $1,515,433.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.07% of the stock is owned by insiders.
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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