BigSur Wealth Management LLC lifted its position in Verizon Communications (NYSE:VZ) by 20.4% in the 4th quarter, HoldingsChannel reports. The fund owned 20,680 shares of the cell phone carrier’s stock after acquiring an additional 3,500 shares during the quarter. Verizon Communications accounts for 1.1% of BigSur Wealth Management LLC’s holdings, making the stock its 20th biggest holding. BigSur Wealth Management LLC’s holdings in Verizon Communications were worth $1,095,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Capital Research Global Investors increased its position in Verizon Communications by 15.1% during the 2nd quarter. Capital Research Global Investors now owns 153,408,016 shares of the cell phone carrier’s stock valued at $6,851,202,000 after buying an additional 20,070,391 shares in the last quarter. FMR LLC increased its position in Verizon Communications by 15.0% during the 2nd quarter. FMR LLC now owns 61,833,096 shares of the cell phone carrier’s stock valued at $2,761,466,000 after buying an additional 8,077,275 shares in the last quarter. Vanguard Group Inc. increased its position in 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 buying an additional 5,837,702 shares in the last quarter. Stifel Financial Corp increased its position in 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 buying an additional 3,827,442 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in 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 buying an additional 3,623,182 shares in the last quarter. 64.00% of the stock is owned by hedge funds and other institutional investors.
In other news, SVP Anthony T. Skiadas sold 6,967 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $49.80, for a total value of $346,956.60. Following the transaction, the senior vice president now directly owns 16,059 shares in the company, valued at approximately $799,738.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.09% of the company’s stock.
Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Tuesday, January 23rd. The cell phone carrier reported $0.86 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.88 by ($0.02). The firm had revenue of $33.96 billion during the quarter, compared to analysts’ expectations of $33.20 billion. Verizon Communications had a return on equity of 48.97% and a net margin of 23.88%. The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the business earned $0.86 earnings per share. equities research analysts expect that Verizon Communications will post 4.54 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Tuesday, April 10th will be paid a $0.59 dividend. The ex-dividend date is Monday, April 9th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.96%. Verizon Communications’s dividend payout ratio (DPR) is currently 63.10%.
A number of research analysts recently weighed in on the company. Vetr lowered Verizon Communications from a “strong-buy” rating to a “buy” rating and set a $52.49 price objective for the company. in a research report on Tuesday, April 3rd. Guggenheim assumed coverage on Verizon Communications in a research report on Tuesday, March 13th. They set a “buy” rating and a $58.00 price objective for the company. SunTrust Banks raised their price objective on Verizon Communications to $58.00 and gave the company a “hold” rating in a research report on Wednesday, January 24th. Macquarie reaffirmed a “hold” rating and set a $54.00 price objective on shares of Verizon Communications in a research report on Wednesday, January 24th. Finally, Zacks Investment Research lowered Verizon Communications from a “buy” rating to a “hold” rating in a report on Monday, March 12th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $54.24.
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Verizon Communications 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; 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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