According to the most recent Securities and Exchange Commission filing, the institutional investor increased its holdings of the cell phone carrier's stock by 3.9% in the fourth quarter. The institution investor now owns 119,101 of the stock of the mobile phone provider after purchasing 4,443 additional shares during the last quarter. Stockman Wealth Management Inc. held Verizon Communications shares worth $4,693,000 as of the latest reporting period.
Other hedge funds also made recent changes to their position in the company. Great West Life Assurance Co. Renaissance Technologies LLC increased its stake in Verizon Communications shares by 81.3% over the first quarter. Renaissance Technologies LLC owns 10,604,493 of the stock of the cell carrier valued at $540.193,000, after buying an additional 4,756,222 in the last quarter. Vanguard Group Inc. increased its stake in Verizon Communications shares by 1.1% during third quarter. Vanguard Group Inc. owns now 349,590 768 shares of Verizon Communications' stock, valued at $13,273,960,000, after buying an additional 3,857 646 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Verizon Communications shares by 11.4% during third quarter. Dimensional Fund Advisors LP owns 36.396,520 of the cell carrier's stock, valued at $1.382,176,000, after buying an additional 3,714,605 in the last quarter. GQG Partners, LLC, acquired a stake in Verizon Communications valued at $188,235,000 in the first quarter. Recent comments from several research firms on VZ. In a report published on Wednesday, the 26th of April, Verizon Communications shares were downgraded from a "buy" rating to a "hold". Oppenheimer reiterated an 'outperform rating' and set a price target of $46.00 on Verizon Communications shares in a report published on Thursday, 4th April. Bank of America reduced their price target on Verizon Communications shares from $51.00 down to $41.00 in a report published on Thursday, 23rd March. The company was also given a rating of 'neutral. Cowen reduced their price target on Verizon Communications shares from $55.00 down to $49.00 in a report published on Wednesday, January 25, and assigned an 'outperform rating'. Twelve analysts gave the stock a hold and five others a buy rating. According to MarketBeat the stock's consensus rating is 'Hold' with a consensus target price of $46.22.
Insider Activities at Verizon Communications
In a deal dated April 10th, 3,340 shares were sold. The shares were purchased at an average of $39.21 for a value of $130.961.40. After the sale was completed, the executive vice-president now owns 73 015 shares of the company valued at $2 862 918 15 dollars. EVP Craig L. Silliman, a Verizon Communications executive, sold 3,340 Verizon Communications shares in a deal dated April 10th. The shares were purchased at a price of $39.21 on average, resulting in a transaction worth $130,961.40. After the transaction is complete, the executive vice-president now owns 73 015 shares of the company valued at $2 862 918 15 dollars. Kyle Malady, the CEO of Verizon Communications, sold 7,199 Verizon Communications shares in a deal dated March 13th. The stock was bought at a price of $36.50 on average, and sold for $262,763.50. The chief executive now owns approximately 2,983,437 shares of stock worth 81,738 dollars. Insiders have sold 20,107 shares worth $749.153 in the past 90 days. Insiders of the company own 0.02%.
Verizon Communications stock up 0.4 %
During mid-day trading, the stock rose $0.14 to $37.81. The trading volume was 2,543,408 compared to the average of 19,875,697. The company's current ratio is 0.75. Its quick ratio is 0.71. And its debt-to equity ratio is 1.49. The company has a simple moving-average of 38.22 dollars for the past 50 days and an average simple moving-average of 38.70 dollars for the last 200 days. The market cap is $158.80 Billion, the P/E Ratio is 7.33, PEG Ratio of 1.99 and beta 0.36. Verizon Communications Inc.'s 52-week low is $34.55 while its 52-week highest is $52.18.
The last time ) released its results was on Tuesday, 25th April. Cell phone provider reported $1.20 per share in earnings for the quarter. This beat the consensus estimate of just $1.19 cents by a mere $0.01. Revenue for the quarter was $32,91 billion, which is higher than the $33.64 billion consensus estimate. Verizon Communications' net margin was 15.85%, and its return on equity was 23.31%. Revenue for the quarter was down by 1.9% from last year's same-quarter revenue. In the same quarter of the previous year the company earned $1.35 per share. Analysts on the sell-side predict Verizon Communications Inc. to post 4,69 earnings per share in the current year.
Verizon Communications Announces Dividend
A quarterly dividend was also paid by the company on May 1, 2018. Investors who were in the records on Monday, April 10, received a dividend of $0.6525. This is a $2.61 dividend with a yield of 6.90%. This dividend became payable on Thursday, April 6. Verizon Communications' dividend payout ratio is 50.78%.
Verizon Communications, Inc. is a holding firm that provides communications, entertainment, and information products and services. The company operates under the Verizon Consumer Group and Verizon Business Group segments. The Consumer segment offers wireless and wireline communications products and services geared towards consumers.
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