Janney Montgomery Scott LLC Has $72.75 Million Stake in Verizon Communications Inc. (VZ)

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Janney Montgomery Scott LLC lifted its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 1.4% during the fourth quarter, HoldingsChannel reports. The firm owned 1,293,963 shares of the cell phone carrier’s stock after acquiring an additional 17,352 shares during the period. Verizon Communications accounts for about 0.7% of Janney Montgomery Scott LLC’s portfolio, making the stock its 23rd biggest position. Janney Montgomery Scott LLC’s holdings in Verizon Communications were worth $72,747,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Daiwa SB Investments Ltd. raised its position in Verizon Communications by 120.0% in the fourth quarter. Daiwa SB Investments Ltd. now owns 880 shares of the cell phone carrier’s stock worth $49,000 after acquiring an additional 480 shares in the last quarter. Cascade Investment Advisors Inc. raised its position in Verizon Communications by 21.5% in the fourth quarter. Cascade Investment Advisors Inc. now owns 1,033 shares of the cell phone carrier’s stock worth $58,000 after acquiring an additional 183 shares in the last quarter. Advisors Preferred LLC bought a new stake in Verizon Communications in the fourth quarter worth about $66,000. Advocacy Wealth Management Services LLC raised its position in Verizon Communications by 25.9% in the fourth quarter. Advocacy Wealth Management Services LLC now owns 1,265 shares of the cell phone carrier’s stock worth $71,000 after acquiring an additional 260 shares in the last quarter. Finally, Lenox Wealth Management Inc. raised its position in Verizon Communications by 89.0% in the fourth quarter. Lenox Wealth Management Inc. now owns 1,482 shares of the cell phone carrier’s stock worth $83,000 after acquiring an additional 698 shares in the last quarter. Institutional investors and hedge funds own 66.56% of the company’s stock.

NYSE VZ opened at $58.87 on Friday. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.83 and a current ratio of 0.87. The stock has a market cap of $244.58 billion, a price-to-earnings ratio of 12.50, a P/E/G ratio of 3.10 and a beta of 0.48. Verizon Communications Inc. has a 1 year low of $47.13 and a 1 year high of $61.58.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Tuesday, April 23rd. The cell phone carrier reported $1.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.17 by $0.03. The firm had revenue of $32.13 billion for the quarter, compared to the consensus estimate of $32.13 billion. Verizon Communications had a return on equity of 35.40% and a net margin of 12.20%. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.17 EPS. On average, sell-side analysts expect that Verizon Communications Inc. will post 4.75 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th were issued a dividend of $0.6025 per share. The ex-dividend date was Tuesday, April 9th. This represents a $2.41 annualized dividend and a yield of 4.09%. Verizon Communications’s payout ratio is presently 51.17%.

In other Verizon Communications news, Director Lowell C. Mcadam sold 285,988 shares of the business’s stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $56.72, for a total transaction of $16,221,239.36. Following the sale, the director now owns 362,932 shares in the company, valued at approximately $20,585,503.04. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Craig L. Silliman sold 1,349 shares of Verizon Communications stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $57.12, for a total value of $77,054.88. Following the transaction, the executive vice president now directly owns 25,549 shares in the company, valued at approximately $1,459,358.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 296,169 shares of company stock worth $16,805,577. Corporate insiders own 0.03% of the company’s stock.

Several brokerages have commented on VZ. Zacks Investment Research cut shares of Verizon Communications from a “buy” rating to a “hold” rating in a research report on Thursday, May 16th. Royal Bank of Canada reiterated a “neutral” rating and issued a $57.00 price target on shares of Verizon Communications in a research report on Tuesday, April 23rd. Bank of America set a $64.00 price target on shares of Verizon Communications and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Goldman Sachs Group reiterated a “buy” rating and issued a $65.00 price target on shares of Verizon Communications in a research report on Tuesday, April 23rd. Finally, ValuEngine cut shares of Verizon Communications from a “buy” rating to a “hold” rating in a research report on Tuesday, January 29th. Ten research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Verizon Communications presently has an average rating of “Hold” and a consensus price target of $57.76.

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Verizon Communications Company Profile

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; international travel wireless services; and network access services to deliver various Internet of Things products and services, as well as offers digital advertising and digital media services platforms.

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Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

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