Level Four Advisory Services LLC decreased its position in Verizon Communications Inc. (NYSE:VZ) by 6.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 37,147 shares of the cell phone carrier’s stock after selling 2,543 shares during the quarter. Level Four Advisory Services LLC’s holdings in Verizon Communications were worth $1,821,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bogart Wealth LLC increased its holdings in shares of Verizon Communications by 49.6% during the second quarter. Bogart Wealth LLC now owns 39,382 shares of the cell phone carrier’s stock valued at $1,759,000 after acquiring an additional 13,056 shares in the last quarter. MPS Loria Financial Planners LLC bought a new position in shares of Verizon Communications during the second quarter valued at $776,000. Frontier Investment Mgmt Co. bought a new position in shares of Verizon Communications during the second quarter valued at $19,072,000. W. E. Donoghue & Co. LLC bought a new position in shares of Verizon Communications during the second quarter valued at $15,368,000. Finally, Intl Fcstone Inc. increased its holdings in shares of Verizon Communications by 25.9% during the second quarter. Intl Fcstone Inc. now owns 51,637 shares of the cell phone carrier’s stock valued at $2,306,000 after acquiring an additional 10,621 shares in the last quarter. Institutional investors and hedge funds own 63.37% of the company’s stock.
Verizon Communications Inc. (VZ) traded up $0.33 during trading hours on Friday, reaching $52.67. The company’s stock had a trading volume of 24,245,276 shares, compared to its average volume of 17,560,842. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 4.05. Verizon Communications Inc. has a 1-year low of $42.80 and a 1-year high of $54.83. The company has a market cap of $214,762.17, a P/E ratio of 14.04, a price-to-earnings-growth ratio of 4.94 and a beta of 0.57.
Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Thursday, October 19th. The cell phone carrier reported $0.98 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.98. Verizon Communications had a return on equity of 58.66% and a net margin of 12.80%. The business had revenue of $31.70 billion for the quarter, compared to the consensus estimate of $31.45 billion. During the same quarter in the previous year, the company posted $1.01 EPS. The company’s revenue was up 2.5% compared to the same quarter last year. equities research analysts expect that Verizon Communications Inc. will post 3.77 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 4.48%. The ex-dividend date of this dividend is Tuesday, January 9th. Verizon Communications’s payout ratio is 60.51%.
In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of Verizon Communications stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $48.62, for a total value of $29,658.20. Following the sale, the executive vice president now owns 5,989 shares of the company’s stock, valued at approximately $291,185.18. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders sold 1,830 shares of company stock worth $88,609. Corporate insiders own 0.13% of the company’s stock.
Several equities analysts have recently weighed in on the company. Moffett Nathanson restated a “buy” rating on shares of Verizon Communications in a report on Thursday, October 12th. Robert W. Baird reaffirmed a “hold” rating and set a $49.00 price objective on shares of Verizon Communications in a research report on Wednesday, October 4th. HSBC cut Verizon Communications from a “buy” rating to a “hold” rating and dropped their price objective for the company from $54.83 to $42.80 in a research report on Thursday. They noted that the move was a valuation call. Wells Fargo & Company raised Verizon Communications from a “market perform” rating to an “outperform” rating and set a $50.00 price objective on the stock in a research report on Monday, November 20th. Finally, ValuEngine raised Verizon Communications from a “hold” rating to a “buy” rating in a research report on Monday, October 23rd. Two analysts have rated the stock with a sell rating, nineteen have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Verizon Communications currently has a consensus rating of “Hold” and an average target price of $51.99.
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Verizon Communications Profile
Verizon Communications Inc is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. Its segments include Wireless and Wireline. The Wireless segment offers communications products and services, including wireless voice and data services and equipment sales, to consumer, business and government customers across the United States.
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