IMS Capital Management Sells 400 Shares of Verizon Communications Inc. (NYSE:VZ)

IMS Capital Management trimmed its position in Verizon Communications Inc. (NYSE:VZ) by 2.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,110 shares of the cell phone carrier’s stock after selling 400 shares during the quarter. IMS Capital Management’s holdings in Verizon Communications were worth $1,051,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the company. Raymond James Trust N.A. increased its holdings in shares of Verizon Communications by 17.0% during the 3rd quarter. Raymond James Trust N.A. now owns 403,298 shares of the cell phone carrier’s stock worth $24,343,000 after buying an additional 58,674 shares during the last quarter. CNB Bank lifted its position in shares of Verizon Communications by 13.5% in the 3rd quarter. CNB Bank now owns 20,277 shares of the cell phone carrier’s stock worth $1,224,000 after buying an additional 2,416 shares during the last quarter. Andra AP fonden lifted its position in shares of Verizon Communications by 9.1% in the 2nd quarter. Andra AP fonden now owns 140,900 shares of the cell phone carrier’s stock worth $8,050,000 after buying an additional 11,700 shares during the last quarter. Chartwell Investment Partners LLC lifted its position in shares of Verizon Communications by 28.7% in the 2nd quarter. Chartwell Investment Partners LLC now owns 173,535 shares of the cell phone carrier’s stock worth $9,914,000 after buying an additional 38,654 shares during the last quarter. Finally, AlphaMark Advisors LLC lifted its position in shares of Verizon Communications by 0.4% in the 3rd quarter. AlphaMark Advisors LLC now owns 65,471 shares of the cell phone carrier’s stock worth $3,952,000 after buying an additional 234 shares during the last quarter. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

VZ stock opened at $59.10 on Thursday. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 1.99. Verizon Communications Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $62.22. The firm’s 50-day simple moving average is $60.64 and its 200 day simple moving average is $59.01. The stock has a market cap of $244.18 billion, a PE ratio of 12.55, a price-to-earnings-growth ratio of 3.72 and a beta of 0.51.

Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Friday, October 25th. The cell phone carrier reported $1.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.01. Verizon Communications had a net margin of 12.26% and a return on equity of 34.50%. The business had revenue of $32.89 billion for the quarter, compared to analysts’ expectations of $32.74 billion. During the same quarter last year, the company earned $1.22 EPS. The company’s revenue for the quarter was up .9% compared to the same quarter last year. Equities analysts forecast that Verizon Communications Inc. will post 4.83 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be issued a $0.615 dividend. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 4.16%. Verizon Communications’s dividend payout ratio (DPR) is presently 52.23%.

In other Verizon Communications news, EVP Craig L. Silliman sold 1,349 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $60.42, for a total transaction of $81,506.58. Following the transaction, the executive vice president now owns 19,983 shares of the company’s stock, valued at approximately $1,207,372.86. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Craig L. Silliman sold 1,346 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $59.55, for a total value of $80,154.30. Following the completion of the transaction, the executive vice president now owns 18,637 shares of the company’s stock, valued at $1,109,833.35. The disclosure for this sale can be found here. 0.03% of the stock is owned by company insiders.

VZ has been the topic of a number of recent research reports. New Street Research restated a “buy” rating on shares of Verizon Communications in a research report on Friday, January 10th. ValuEngine upgraded shares of Verizon Communications from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. HSBC downgraded shares of Verizon Communications from a “buy” rating to a “hold” rating and set a $65.00 price target on the stock. in a research report on Thursday, November 14th. Guggenheim raised their price target on shares of Verizon Communications from $65.00 to $69.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Finally, Nomura downgraded shares of Verizon Communications from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $67.00 to $65.00 in a research report on Monday, November 4th. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $63.44.

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; 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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