Sheaff Brock Investment Advisors LLC trimmed its position in Verizon Communications Inc. (NYSE:VZ) by 1.5% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 112,972 shares of the cell phone carrier’s stock after selling 1,664 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in Verizon Communications were worth $5,591,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of the business. Capital Research Global Investors increased its holdings in shares of Verizon Communications by 15.1% in the 2nd quarter. Capital Research Global Investors now owns 153,408,016 shares of the cell phone carrier’s stock worth $6,851,202,000 after buying an additional 20,070,391 shares during the last quarter. FMR LLC increased its holdings in shares of Verizon Communications by 15.0% in the 2nd quarter. FMR LLC now owns 61,833,096 shares of the cell phone carrier’s stock worth $2,761,466,000 after buying an additional 8,077,275 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Verizon Communications by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 282,894,542 shares of the cell phone carrier’s stock valued at $12,634,070,000 after purchasing an additional 5,837,702 shares during the last quarter. Stifel Financial Corp grew its holdings in shares of Verizon Communications by 7,639.8% during the 3rd quarter. Stifel Financial Corp now owns 3,877,541 shares of the cell phone carrier’s stock valued at $191,847,000 after purchasing an additional 3,827,442 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of Verizon Communications by 19.9% during the 2nd quarter. Franklin Resources Inc. now owns 21,820,729 shares of the cell phone carrier’s stock valued at $974,515,000 after purchasing an additional 3,623,182 shares during the last quarter. 64.10% of the stock is owned by institutional investors and hedge funds.
Several equities analysts recently commented on the stock. Vetr lowered shares of Verizon Communications from a “strong-buy” rating to a “buy” rating and set a $54.24 target price on the stock. in a report on Tuesday, February 27th. Moffett Nathanson raised shares of Verizon Communications from a “neutral” rating to a “buy” rating in a report on Wednesday, February 28th. Macquarie reissued a “hold” rating and issued a $54.00 price target on shares of Verizon Communications in a report on Wednesday, January 24th. SunTrust Banks raised their price target on shares of Verizon Communications to $58.00 and gave the stock a “hold” rating in a report on Wednesday, January 24th. Finally, Zacks Investment Research raised shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a research report on Tuesday, February 13th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Verizon Communications currently has an average rating of “Hold” and a consensus target price of $53.45.
Shares of Verizon Communications Inc. (NYSE VZ) opened at $48.89 on Wednesday. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.54. Verizon Communications Inc. has a 12-month low of $42.80 and a 12-month high of $54.77. The stock has a market cap of $201,073.11, a P/E ratio of 12.99, a P/E/G ratio of 1.98 and a beta of 0.68.
Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Tuesday, January 23rd. The cell phone carrier reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.02). Verizon Communications had a net margin of 23.88% and a return on equity of 48.97%. The firm had revenue of $33.96 billion for the quarter, compared to analysts’ expectations of $33.20 billion. During the same period in the prior year, the firm earned $0.86 EPS. Verizon Communications’s revenue for the quarter was up 2.2% compared to the same quarter last year. equities analysts predict that Verizon Communications Inc. will post 4.55 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Tuesday, April 10th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 4.83%. Verizon Communications’s dividend payout ratio (DPR) is presently 32.07%.
In other news, SVP Anthony T. Skiadas sold 6,967 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $49.80, for a total value of $346,956.60. Following the transaction, the senior vice president now owns 16,059 shares of the company’s stock, valued at $799,738.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.13% of the stock is currently owned by insiders.
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.