Uncommon Cents Investing LLC raised its holdings in shares of Verizon Communications Inc. (NYSE:VZ – Get Rating) by 179.4% in the 1st quarter, Holdings Channel reports. The firm owned 16,727 shares of the cell phone carrier’s stock after purchasing an additional 10,740 during the quarter. Uncommon Cents Investing LLC’s holdings in Verizon Communications were worth $852,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in the company. Rinkey Investments bought a new stake in shares of Verizon Communications in the fourth quarter valued at about $27,000. Econ Financial Services Corp bought a new stake in shares of Verizon Communications in the fourth quarter valued at about $32,000. Gibson Wealth Advisors LLC bought a new stake in shares of Verizon Communications in the fourth quarter valued at about $37,000. Morton Brown Family Wealth LLC raised its holdings in shares of Verizon Communications by 109.2% in the first quarter. Morton Brown Family Wealth LLC now owns 726 shares of the cell phone carrier’s stock valued at $37,000 after acquiring an additional 379 shares in the last quarter. Finally, Rather & Kittrell Inc. bought a new stake in shares of Verizon Communications in the fourth quarter valued at about $43,000. Institutional investors and hedge funds own 63.78% of the company’s stock.
Shares of NYSE VZ opened at $51.64 on Friday. The business’s 50 day moving average price is $49.75 and its 200 day moving average price is $51.86. The firm has a market cap of $216.87 billion, a P/E ratio of 10.03, a P/E/G ratio of 2.63 and a beta of 0.41. Verizon Communications Inc. has a 52 week low of $45.55 and a 52 week high of $56.85. 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 issued its earnings results on Friday, April 22nd. The cell phone carrier reported $1.35 EPS for the quarter, meeting analysts’ consensus estimates of $1.35. The firm had revenue of $33.60 billion for the quarter, compared to analyst estimates of $33.61 billion. Verizon Communications had a return on equity of 28.15% and a net margin of 15.93%. Verizon Communications’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.31 earnings per share. As a group, research analysts expect that Verizon Communications Inc. will post 5.39 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 1st. Investors of record on Friday, July 8th will be given a $0.64 dividend. The ex-dividend date of this dividend is Thursday, July 7th. This represents a $2.56 dividend on an annualized basis and a yield of 4.96%. Verizon Communications’s dividend payout ratio is currently 49.71%.
Several research firms recently weighed in on VZ. Royal Bank of Canada decreased their objective price on Verizon Communications from $57.00 to $54.00 and set a “sector performer” rating for the company in a report on Wednesday, June 22nd. The Goldman Sachs Group downgraded shares of Verizon Communications from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $61.00 to $55.00 in a report on Monday, April 25th. StockNews.com upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating in a report on Thursday, May 12th. JPMorgan Chase & Co. reiterated a “hold” rating and issued a $57.00 target price on shares of Verizon Communications in a report on Friday, June 24th. Finally, DZ Bank downgraded shares of Verizon Communications from a “hold” rating to a “sell” rating and set a $44.00 target price for the company. in a report on Friday, April 29th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $57.14.
In other Verizon Communications news, EVP Craig L. Silliman sold 1,558 shares of the company’s stock in a transaction that occurred on Monday, April 4th. The stock was sold at an average price of $52.00, for a total value of $81,016.00. Following the sale, the executive vice president now owns 38,077 shares in the company, valued at approximately $1,980,004. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Tami A. Erwin sold 23,647 shares of the company’s stock in a transaction that occurred on Tuesday, April 26th. The stock was sold at an average price of $49.77, for a total value of $1,176,911.19. Following the completion of the sale, the chief executive officer now owns 21,817 shares in the company, valued at approximately $1,085,832.09. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,321 shares of company stock worth $1,415,192. 0.02% of the stock is owned by insiders.
Verizon Communications 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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