Meadow Creek Wealth Advisors LLC trimmed its position in Verizon Communications Inc. (NYSE:VZ – Get Rating) by 11.5% during the first quarter, HoldingsChannel.com reports. The fund owned 19,951 shares of the cell phone carrier’s stock after selling 2,593 shares during the period. Verizon Communications makes up approximately 1.1% of Meadow Creek Wealth Advisors LLC’s investment portfolio, making the stock its 12th biggest holding. Meadow Creek Wealth Advisors LLC’s holdings in Verizon Communications were worth $1,016,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in the stock. LVM Capital Management Ltd. MI raised its position in shares of Verizon Communications by 5.3% in the 1st quarter. LVM Capital Management Ltd. MI now owns 261,277 shares of the cell phone carrier’s stock valued at $13,309,000 after acquiring an additional 13,205 shares during the period. Baldwin Brothers LLC MA raised its position in shares of Verizon Communications by 4.8% in the 1st quarter. Baldwin Brothers LLC MA now owns 246,002 shares of the cell phone carrier’s stock valued at $12,532,000 after acquiring an additional 11,207 shares during the period. Coastal Investment Advisors Inc. its raised position in shares of Verizon Communications by 14.2% in the 1st quarter. Coastal Investment Advisors Inc. Now owns 58,566 shares of the cell phone carrier’s stock valued at $2,983,000 after acquiring an additional 7,291 shares during the period. Hexagon Capital Partners LLC raised its position in shares of Verizon Communications by 2.3% in the 1st quarter. Hexagon Capital Partners LLC now owns 17,407 shares of the cell phone carrier’s stock valued at $887,000 after acquiring an additional 395 shares during the period. Finally, Trainor Capital Management Inc. increased its stake in Verizon Communications by 5.5% during the 1st quarter. Trainor Capital Management Inc. now owns 4,126 shares of the cell phone carrier’s stock worth $210,000 after purchasing an additional 215 shares in the last quarter. Institutional investors and hedge funds own 63.78% of the company’s stock.
In other Verizon Communications news, EVP Craig L. Silliman sold 1,558 shares of the firm’s stock in a transaction on Monday, April 4th. The stock was sold at an average price of $52.00, for a total transaction of $81,016.00. Following the completion of the sale, the executive vice president now owns 38,077 shares of the company’s stock, valued at approximately $1,980,004. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Tami A. Erwin sold 23,647 shares of the firm’s stock in a transaction on Tuesday, April 26th. The shares were sold at an average price of $49.77, for a total value of $1,176,911.19. Following the sale, the chief executive officer now directly owns 21,817 shares of the company’s stock, valued at approximately $1,085,832.09. The disclosure for this sale can be found here. In the last three months, insiders sold 28,321 shares of company stock valued at $1,415,192. 0.10% of the stock is currently owned by insiders.
VZ has been the subject of a number of research reports. Wolfe Research lowered their target price on Verizon Communications from $60.00 to $51.00 and set a “peer perform” rating for the company in a research note on Thursday, June 2nd. William Blair reissued a “market perform” rating on shares of Verizon Communications in a research note on Monday, April 25th. StockNews.com raised Verizon Communications from a “hold” rating to a “buy” rating in a research note on Thursday, May 12th. Royal Bank of Canada lowered their target price on Verizon Communications from $57.00 to $54.00 in a research note on Wednesday. Finally, DZ Bank cut Verizon Communications from a “hold” rating to a “sell” rating and set a $44.00 target price for the company. in a research note on Friday, April 29th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $56.60.
Shares of VZ opened at $50.96 on Friday. The stock has a market capitalization of $214.01 billion, a P/E ratio of 9.90, a P/E/G ratio of 2.62 and a beta of 0.41. Verizon Communications Inc. has a twelve month low of $45.55 and a twelve month high of $56.85. The company has a 50 day moving average of $50.02 and a 200-day moving average of $51.83. The company has a quick ratio of 0.69, a current ratio of 0.76 and a debt-to-equity ratio of 1.64.
Verizon Communications (NYSE:VZ – Get Rating) last released its quarterly earnings data on Friday, April 22nd. The cell phone carrier reported $1.35 EPS for the quarter, meeting the consensus estimate of $1.35. The company had revenue of $33.60 billion during the quarter, compared to the consensus estimate of $33.61 billion. Verizon Communications had a return on equity of 28.15% and a net margin of 15.93%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.31 EPS. On average, sell-side analysts anticipate that Verizon Communications Inc. will post 5.4 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 1st. Stockholders of record on Friday, July 8th will be issued a $0.64 dividend. This represents a $2.56 annualized dividend and a dividend yield of 5.02%. The ex-dividend date is Thursday, July 7th. Verizon Communications’s payout ratio is presently 49.71%.
Verizon Communications Company Profile (Get Rating)
Verizon Communications Inc, through its subsidiaries, 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 comprising smart watches.
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