Winslow Evans & Crocker Inc. raised its position in Verizon Communications Inc. (NYSE:VZ) by 8.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 51,554 shares of the cell phone carrier’s stock after buying an additional 3,802 shares during the period. Verizon Communications comprises about 0.8% of Winslow Evans & Crocker Inc.’s portfolio, making the stock its 24th largest holding. Winslow Evans & Crocker Inc.’s holdings in Verizon Communications were worth $3,168,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of the stock. Kayne Anderson Rudnick Investment Management LLC purchased a new position in Verizon Communications in the 2nd quarter worth approximately $28,000. Lenox Wealth Advisors LLC purchased a new position in Verizon Communications in the 3rd quarter worth approximately $39,000. Advocacy Wealth Management Services LLC lifted its stake in Verizon Communications by 35.8% in the 3rd quarter. Advocacy Wealth Management Services LLC now owns 687 shares of the cell phone carrier’s stock worth $41,000 after purchasing an additional 181 shares in the last quarter. WealthStone Inc. purchased a new position in Verizon Communications in the 2nd quarter worth approximately $45,000. Finally, Fulcrum Equity Management purchased a new position in Verizon Communications in the 3rd quarter worth approximately $48,000. Institutional investors own 65.25% of the company’s stock.
A number of research analysts have weighed in on the stock. HSBC lowered shares of Verizon Communications from a “buy” rating to a “hold” rating and set a $65.00 target price on the stock. in a research note on Thursday, November 14th. New Street Research reaffirmed a “buy” rating on shares of Verizon Communications in a research report on Friday, January 10th. Guggenheim lifted their price target on shares of Verizon Communications from $65.00 to $69.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Moffett Nathanson set a $57.00 price target on shares of Verizon Communications and gave the company a “hold” rating in a research report on Friday, October 25th. Finally, Zacks Investment Research lowered shares of Verizon Communications from a “buy” rating to a “hold” rating and set a $62.00 price target on the stock. in a research report on Saturday. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Verizon Communications presently has a consensus rating of “Hold” and a consensus price target of $63.44.
Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Friday, October 25th. The cell phone carrier reported $1.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.01. The firm had revenue of $32.89 billion for the quarter, compared to analyst estimates of $32.74 billion. Verizon Communications had a net margin of 12.26% and a return on equity of 34.50%. The business’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.22 EPS. Equities research analysts predict that Verizon Communications Inc. will post 4.83 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be given a dividend of $0.615 per share. This represents a $2.46 annualized dividend and a dividend yield of 4.17%. The ex-dividend date is Thursday, January 9th. Verizon Communications’s payout ratio is presently 52.23%.
In other Verizon Communications news, EVP Craig L. Silliman sold 1,346 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $59.55, for a total value of $80,154.30. Following the sale, the executive vice president now owns 18,637 shares of the company’s stock, valued at $1,109,833.35. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Craig L. Silliman sold 1,349 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $60.42, for a total value of $81,506.58. Following the completion of the sale, the executive vice president now directly owns 19,983 shares in the company, valued at approximately $1,207,372.86. The disclosure for this sale can be found here. 0.03% of the stock is currently owned by insiders.
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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