Oxbow Advisors LLC boosted its position in Verizon Communications Inc. (NYSE:VZ) by 4.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 30,004 shares of the cell phone carrier’s stock after purchasing an additional 1,260 shares during the period. Oxbow Advisors LLC’s holdings in Verizon Communications were worth $1,842,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in VZ. Cedar Mountain Advisors LLC bought a new position in shares of Verizon Communications during the 4th quarter valued at approximately $45,000. Fulcrum Equity Management bought a new stake in Verizon Communications during the 3rd quarter worth approximately $48,000. Candriam Luxembourg S.C.A. raised its stake in Verizon Communications by 10.0% during the 4th quarter. Candriam Luxembourg S.C.A. now owns 816,546 shares of the cell phone carrier’s stock worth $50,000 after acquiring an additional 74,287 shares during the period. Westchester Capital Management Inc. raised its stake in Verizon Communications by 428.6% during the 4th quarter. Westchester Capital Management Inc. now owns 925 shares of the cell phone carrier’s stock worth $57,000 after acquiring an additional 750 shares during the period. Finally, Wealthcare Capital Management LLC lifted its holdings in Verizon Communications by 39.0% during the fourth quarter. Wealthcare Capital Management LLC now owns 1,087 shares of the cell phone carrier’s stock valued at $67,000 after purchasing an additional 305 shares in the last quarter. 65.20% of the stock is currently owned by institutional investors and hedge funds.
Shares of VZ opened at $58.51 on Friday. The firm has a market cap of $242.56 billion, a P/E ratio of 12.19, a price-to-earnings-growth ratio of 3.54 and a beta of 0.51. The company has a debt-to-equity ratio of 1.90, a current ratio of 0.84 and a quick ratio of 0.80. Verizon Communications Inc. has a 1 year low of $54.26 and a 1 year high of $62.22. The company has a 50 day simple moving average of $59.91 and a two-hundred day simple moving average of $59.39.
Verizon Communications (NYSE:VZ) last released its earnings results on Thursday, January 30th. The cell phone carrier reported $1.13 EPS for the quarter, missing the consensus estimate of $1.15 by ($0.02). Verizon Communications had a return on equity of 33.39% and a net margin of 14.61%. The company had revenue of $34.78 billion during the quarter, compared to analysts’ expectations of $34.62 billion. During the same period last year, the firm posted $1.12 EPS. Verizon Communications’s quarterly revenue was up 1.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Verizon Communications Inc. will post 4.94 earnings per share for the current year.
Verizon Communications declared that its board has authorized a stock repurchase plan on Thursday, February 6th that permits the company to buyback 100,000,000 shares. This buyback authorization permits the cell phone carrier to buy shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.
The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were issued a $0.615 dividend. The ex-dividend date of this dividend was Thursday, January 9th. This represents a $2.46 dividend on an annualized basis and a yield of 4.20%. Verizon Communications’s dividend payout ratio is currently 51.14%.
In other Verizon Communications news, EVP Craig L. Silliman sold 1,346 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $59.55, for a total transaction 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 approximately $1,109,833.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.03% of the stock is owned by insiders.
A number of equities analysts have weighed in on the stock. Moffett Nathanson reiterated a “hold” rating and issued a $58.00 price target on shares of Verizon Communications in a research report on Thursday, January 30th. Credit Suisse Group downgraded shares of Verizon Communications from an “outperform” rating to a “neutral” rating and set a $65.00 price objective on the stock. in a research report on Monday, February 3rd. Zacks Investment Research cut shares of Verizon Communications from a “buy” rating to a “hold” rating and set a $62.00 target price on the stock. in a research note on Saturday, January 11th. HSBC downgraded shares of Verizon Communications from a “buy” rating to a “hold” rating and set a $65.00 target price for the company. in a report on Thursday, November 14th. Finally, Tigress Financial reiterated a “hold” rating on shares of Verizon Communications in a research note on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $63.58.
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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