Stokes & Hubbell Capital Management LLC lessened its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 7.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 77,979 shares of the cell phone carrier’s stock after selling 6,529 shares during the period. Verizon Communications accounts for 1.0% of Stokes & Hubbell Capital Management LLC’s portfolio, making the stock its 28th largest position. Stokes & Hubbell Capital Management LLC’s holdings in Verizon Communications were worth $4,127,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vantage Financial Partners Ltd. Inc. acquired a new position in shares of Verizon Communications in the 2nd quarter valued at $623,000. Shine Investment Advisory Services Inc. grew its holdings in shares of Verizon Communications by 190.9% in the 3rd quarter. Shine Investment Advisory Services Inc. now owns 2,705 shares of the cell phone carrier’s stock valued at $134,000 after buying an additional 1,775 shares during the period. Legacy Advisors LLC acquired a new position in shares of Verizon Communications in the 3rd quarter valued at $132,000. Mountain Capital Investment Advisors Inc acquired a new position in shares of Verizon Communications in the 2nd quarter valued at $156,000. Finally, Regal Wealth Group Inc. grew its holdings in shares of Verizon Communications by 0.7% in the 2nd quarter. Regal Wealth Group Inc. now owns 3,682 shares of the cell phone carrier’s stock valued at $164,000 after buying an additional 24 shares during the period. 64.37% of the stock is owned by hedge funds and other institutional investors.
In other Verizon Communications news, SVP Anthony T. Skiadas sold 6,967 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $49.80, for a total transaction of $346,956.60. Following the transaction, the senior vice president now owns 16,059 shares in the company, valued at approximately $799,738.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.13% of the company’s stock.
Verizon Communications stock opened at $48.56 on Monday. Verizon Communications Inc. has a 52 week low of $42.80 and a 52 week high of $54.77. The firm has a market cap of $200,453.94, a PE ratio of 6.60, a PEG ratio of 1.97 and a beta of 0.68. The company has a debt-to-equity ratio of 2.54, a quick ratio of 0.87 and a current ratio of 0.91.
Verizon Communications (NYSE:VZ) last announced its quarterly earnings results on Tuesday, January 23rd. The cell phone carrier reported $0.86 EPS for the quarter, missing the Zacks’ consensus estimate of $0.88 by ($0.02). Verizon Communications had a net margin of 23.88% and a return on equity of 48.97%. The company had revenue of $33.96 billion during the quarter, compared to analyst estimates of $33.20 billion. During the same quarter last year, the company posted $0.86 EPS. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. research analysts predict that Verizon Communications Inc. will post 4.55 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 1st. Shareholders of record on Tuesday, April 10th will be given a dividend of $0.59 per share. The ex-dividend date is Monday, April 9th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.86%. Verizon Communications’s payout ratio is presently 32.07%.
Verizon Communications Company Profile
Verizon Communications Inc is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. Its segments include Wireless and Wireline. The Wireless segment offers communications products and services, including wireless voice and data services and equipment sales, to consumer, business and government customers across the United States.
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