Dowling & Yahnke LLC increased its holdings in Verizon Communications Inc. (NYSE:VZ) by 5.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 38,226 shares of the cell phone carrier’s stock after acquiring an additional 1,903 shares during the quarter. Dowling & Yahnke LLC’s holdings in Verizon Communications were worth $1,828,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Exane Derivatives purchased a new stake in Verizon Communications in the fourth quarter worth about $103,000. Earnest Partners LLC purchased a new stake in Verizon Communications in the fourth quarter worth about $103,000. Stelac Advisory Services LLC purchased a new stake in Verizon Communications in the fourth quarter worth about $111,000. Wagner Wealth Management LLC purchased a new stake in Verizon Communications in the fourth quarter worth about $129,000. Finally, Avestar Capital LLC purchased a new stake in Verizon Communications in the fourth quarter worth about $131,000. 63.68% of the stock is owned by institutional investors.
In related news, SVP Anthony T. Skiadas sold 1,974 shares of the stock in a transaction that occurred on Tuesday, May 1st. The shares were sold at an average price of $49.44, for a total value of $97,594.56. Following the transaction, the senior vice president now owns 16,060 shares in the company, valued at approximately $794,006.40. The sale was disclosed in a filing with the SEC, which is available through this link. 0.09% of the stock is currently owned by corporate insiders.
Verizon Communications opened at $48.09 on Thursday, according to Marketbeat. Verizon Communications Inc. has a 52-week low of $42.80 and a 52-week high of $54.77. The company has a debt-to-equity ratio of 2.15, a quick ratio of 0.94 and a current ratio of 0.98. The stock has a market cap of $195.91 billion, a PE ratio of 12.86, a P/E/G ratio of 1.65 and a beta of 0.63.
Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Tuesday, April 24th. The cell phone carrier reported $1.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.06. Verizon Communications had a net margin of 24.37% and a return on equity of 42.62%. The firm had revenue of $31.77 billion for the quarter, compared to the consensus estimate of $31.25 billion. During the same quarter in the prior year, the company posted $0.95 earnings per share. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. analysts anticipate that Verizon Communications Inc. will post 4.57 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 1st. Investors of record on Tuesday, July 10th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Monday, July 9th. This represents a $2.36 annualized dividend and a yield of 4.91%. Verizon Communications’s dividend payout ratio (DPR) is presently 63.10%.
A number of analysts recently weighed in on the stock. Vetr lowered shares of Verizon Communications from a “strong-buy” rating to a “buy” rating and set a $52.49 price objective for the company. in a research note on Tuesday, April 3rd. William Blair reissued a “market perform” rating on shares of Verizon Communications in a research report on Wednesday, April 25th. Jefferies Financial Group initiated coverage on shares of Verizon Communications in a research report on Thursday, June 7th. They set a “hold” rating and a $52.00 price target for the company. JPMorgan Chase & Co. raised shares of Verizon Communications from a “neutral” rating to an “overweight” rating and set a $58.00 price target for the company in a research report on Friday, May 11th. Finally, Zacks Investment Research lowered shares of Verizon Communications from a “buy” rating to a “hold” rating in a research report on Monday, March 12th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seventeen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $54.55.
About Verizon Communications
Verizon Communications Inc, through its subsidiaries, offers communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company's Wireless segment provides wireless voice and data services; Internet access on various notebook computers and tablets; multimedia, business-focused, and location-based services, as well as international travel services; and network access services to deliver various Internet of Things products and services.
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