Lbmc Investment Advisors LLC grew its holdings in Verizon Communications Inc. (NYSE:VZ) by 14.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 12,574 shares of the cell phone carrier’s stock after buying an additional 1,616 shares during the quarter. Lbmc Investment Advisors LLC’s holdings in Verizon Communications were worth $707,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the company. S. R. Schill & Associates increased its position in Verizon Communications by 2.4% in the fourth quarter. S. R. Schill & Associates now owns 7,625 shares of the cell phone carrier’s stock worth $429,000 after purchasing an additional 178 shares during the period. Hengehold Capital Management LLC increased its position in Verizon Communications by 0.4% in the fourth quarter. Hengehold Capital Management LLC now owns 47,560 shares of the cell phone carrier’s stock worth $2,674,000 after purchasing an additional 179 shares during the period. Cascade Investment Advisors Inc. increased 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 purchasing an additional 183 shares during the period. Successful Portfolios LLC increased its position in Verizon Communications by 1.5% in the fourth quarter. Successful Portfolios LLC now owns 13,512 shares of the cell phone carrier’s stock worth $760,000 after purchasing an additional 200 shares during the period. Finally, CKW Financial Group increased its position in Verizon Communications by 2.7% in the fourth quarter. CKW Financial Group now owns 7,637 shares of the cell phone carrier’s stock worth $429,000 after purchasing an additional 200 shares during the period. Institutional investors own 67.12% of the company’s stock.
Several equities analysts have recently issued reports on the company. Zacks Investment Research upgraded Verizon Communications from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research report on Saturday, May 11th. Bank of America set a $64.00 target price on Verizon Communications and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Goldman Sachs Group restated a “buy” rating and set a $65.00 target price on shares of Verizon Communications in a research report on Tuesday, April 23rd. ValuEngine lowered Verizon Communications from a “buy” rating to a “hold” rating in a research report on Tuesday, January 29th. Finally, Royal Bank of Canada restated a “neutral” rating and set a $57.00 target price on shares of Verizon Communications in a research report on Tuesday, April 23rd. Ten equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Verizon Communications presently has a consensus rating of “Hold” and a consensus target price of $57.76.
Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Tuesday, April 23rd. The cell phone carrier reported $1.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.03. Verizon Communications had a return on equity of 35.40% and a net margin of 12.20%. The business had revenue of $32.13 billion for the quarter, compared to analysts’ expectations of $32.13 billion. During the same quarter in the previous year, the business posted $1.17 EPS. Verizon Communications’s revenue for the quarter was up 1.1% on a year-over-year basis. As a group, equities analysts expect that Verizon Communications Inc. will post 4.75 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th were issued a dividend of $0.6025 per share. This represents a $2.41 annualized dividend and a dividend yield of 4.08%. The ex-dividend date of this dividend was Tuesday, April 9th. Verizon Communications’s dividend payout ratio (DPR) is presently 51.17%.
In other news, SVP Anthony T. Skiadas sold 6,134 shares of Verizon Communications stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $57.11, for a total transaction of $350,312.74. Following the transaction, the senior vice president now owns 20,000 shares in the company, valued at approximately $1,142,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 owns 25,549 shares in the company, valued at approximately $1,459,358.88. The disclosure for this sale can be found here. Insiders have sold a total of 296,169 shares of company stock worth $16,805,577 in the last quarter. 0.03% of the stock is currently owned by company insiders.
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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; 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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