ICW Investment Advisors LLC bought a new stake in Verizon Communications Inc. (NYSE:VZ) in the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 15,185 shares of the cell phone carrier’s stock, valued at approximately $932,000.
A number of other large investors have also modified their holdings of VZ. Cedar Mountain Advisors LLC purchased a new position in Verizon Communications in the 4th quarter valued at $45,000. Fulcrum Equity Management acquired a new position in Verizon Communications in the third quarter valued at $48,000. Candriam Luxembourg S.C.A. lifted its position in Verizon Communications by 10.0% during the fourth quarter. Candriam Luxembourg S.C.A. now owns 816,546 shares of the cell phone carrier’s stock worth $50,000 after buying an additional 74,287 shares during the period. Westchester Capital Management Inc. lifted its position in Verizon Communications by 428.6% during the fourth quarter. Westchester Capital Management Inc. now owns 925 shares of the cell phone carrier’s stock worth $57,000 after buying an additional 750 shares during the period. Finally, Wealthcare Capital Management LLC boosted its stake in Verizon Communications by 39.0% in the 4th quarter. Wealthcare Capital Management LLC now owns 1,087 shares of the cell phone carrier’s stock worth $67,000 after buying an additional 305 shares during the last quarter. Institutional investors own 65.20% of the company’s stock.
Several research firms have commented on VZ. Nomura restated a “hold” rating and issued a $65.00 price target on shares of Verizon Communications in a report on Monday, February 3rd. New Street Research restated a “buy” rating on shares of Verizon Communications in a report on Friday, January 10th. Zacks Investment Research downgraded 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 note on Saturday, January 11th. Deutsche Bank assumed coverage on Verizon Communications in a report on Wednesday, January 22nd. They set a “hold” rating and a $63.00 price objective for the company. Finally, Credit Suisse Group lowered shares of Verizon Communications from an “outperform” rating to a “neutral” rating and set a $65.00 target price on the stock. in a report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company’s stock. Verizon Communications currently has an average rating of “Hold” and an average price target of $63.58.
Shares of Verizon Communications stock opened at $58.65 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.84 and a debt-to-equity ratio of 1.90. The firm has a market cap of $249.14 billion, a P/E ratio of 12.61, a P/E/G ratio of 3.64 and a beta of 0.51. Verizon Communications Inc. has a fifty-two week low of $53.94 and a fifty-two week high of $62.22. The business has a 50-day moving average price of $59.96 and a 200 day moving average price of $59.38.
Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Thursday, January 30th. The cell phone carrier reported $1.13 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.15 by ($0.02). Verizon Communications had a net margin of 14.61% and a return on equity of 33.39%. The firm had revenue of $34.78 billion for the quarter, compared to analyst estimates of $34.62 billion. During the same quarter in the previous year, the company earned $1.12 EPS. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Verizon Communications Inc. will post 4.94 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 10th were issued a $0.615 dividend. The ex-dividend date was Thursday, January 9th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 4.19%. Verizon Communications’s dividend payout ratio (DPR) is 51.14%.
Verizon Communications declared that its Board of Directors has approved a share buyback program on Thursday, February 6th that authorizes the company to buyback 100,000,000 shares. This buyback authorization authorizes the cell phone carrier to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
In other Verizon Communications news, EVP Craig L. Silliman sold 1,346 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $59.55, for a total transaction of $80,154.30. Following the sale, the executive vice president now directly owns 18,637 shares of the company’s stock, valued at $1,109,833.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.03% of the company’s stock.
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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