CapWealth Advisors LLC cut its holdings in Verizon Communications Inc. (NYSE:VZ) by 2.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 194,103 shares of the cell phone carrier’s stock after selling 4,591 shares during the quarter. Verizon Communications comprises 1.5% of CapWealth Advisors LLC’s holdings, making the stock its 25th largest position. CapWealth Advisors LLC’s holdings in Verizon Communications were worth $11,918,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Cedar Mountain Advisors LLC acquired a new stake in shares of Verizon Communications during the fourth quarter worth about $45,000. Fulcrum Equity Management acquired a new position in Verizon Communications in the 3rd quarter worth approximately $48,000. Candriam Luxembourg S.C.A. increased its holdings in Verizon Communications by 10.0% in the 4th 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. increased its holdings in Verizon Communications by 428.6% in the 4th 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 raised its position in Verizon Communications by 39.0% during 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. 65.20% of the stock is owned by institutional investors and hedge funds.
Several analysts have commented on VZ shares. ValuEngine cut shares of Verizon Communications from a “hold” rating to a “sell” rating in a research note on Thursday, February 6th. Nomura reiterated a “hold” rating and issued a $65.00 price objective on shares of Verizon Communications in a research note on Monday, February 3rd. New Street Research reiterated a “buy” rating on shares of Verizon Communications in a research note on Friday, January 10th. Tigress Financial reissued a “hold” rating on shares of Verizon Communications in a report on Thursday, January 23rd. Finally, 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 research report on Thursday, November 14th. 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 stock. Verizon Communications has an average rating of “Hold” and a consensus target price of $63.58.
In related 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.03% of the company’s stock.
Shares of NYSE:VZ opened at $58.51 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.80 and a debt-to-equity ratio of 1.90. Verizon Communications Inc. has a 12-month low of $54.26 and a 12-month high of $62.22. The business has a 50 day moving average of $59.91 and a two-hundred day moving average of $59.39. The company has a market capitalization of $242.56 billion, a PE ratio of 12.19, a PEG ratio of 3.54 and a beta of 0.51.
Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Thursday, January 30th. The cell phone carrier reported $1.13 EPS for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.02). The firm had revenue of $34.78 billion for the quarter, compared to analyst estimates of $34.62 billion. Verizon Communications had a return on equity of 33.39% and a net margin of 14.61%. Verizon Communications’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.12 EPS. Equities research analysts predict that Verizon Communications Inc. will post 4.94 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were issued a dividend of $0.615 per share. This represents a $2.46 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date was Thursday, January 9th. Verizon Communications’s dividend payout ratio (DPR) is presently 51.14%.
Verizon Communications declared that its Board of Directors has authorized a share repurchase program on Thursday, February 6th that permits the company to repurchase 100,000,000 shares. This repurchase authorization permits the cell phone carrier to buy shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
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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