Webster Bank N. A. lessened its stake in Verizon Communications Inc. (NYSE:VZ) by 23.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 70,090 shares of the cell phone carrier’s stock after selling 21,262 shares during the quarter. Webster Bank N. A.’s holdings in Verizon Communications were worth $3,710,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the company. Legacy Advisors LLC bought a new stake in Verizon Communications in the third quarter worth $132,000. Shine Investment Advisory Services Inc. increased its position in Verizon Communications by 190.9% in the third quarter. Shine Investment Advisory Services Inc. now owns 2,705 shares of the cell phone carrier’s stock worth $134,000 after purchasing an additional 1,775 shares during the last quarter. Mountain Capital Investment Advisors Inc bought a new position in Verizon Communications during the second quarter valued at $156,000. Regal Wealth Group Inc. increased its position in Verizon Communications by 0.7% during the second quarter. Regal Wealth Group Inc. now owns 3,682 shares of the cell phone carrier’s stock valued at $164,000 after acquiring an additional 24 shares during the last quarter. Finally, Atlantic Trust LLC increased its position in Verizon Communications by 9.9% during the second quarter. Atlantic Trust LLC now owns 11,164 shares of the cell phone carrier’s stock valued at $170,000 after acquiring an additional 1,005 shares during the last quarter. 63.98% of the stock is currently owned by hedge funds and other institutional investors.
In related news, SVP Anthony T. Skiadas sold 6,967 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $49.80, for a total value of $346,956.60. Following the completion of the sale, the senior vice president now directly owns 16,059 shares of the company’s stock, valued at $799,738.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.13% of the stock is owned by corporate insiders.
Verizon Communications Inc. (NYSE:VZ) opened at $46.88 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.54. The company has a market cap of $196,862.59, a PE ratio of 6.37, a PEG ratio of 1.93 and a beta of 0.68. Verizon Communications Inc. has a 1-year low of $42.80 and a 1-year high of $54.77.
Verizon Communications (NYSE:VZ) last posted 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). The company had revenue of $33.96 billion during the quarter, compared to the consensus estimate of $33.20 billion. Verizon Communications had a return on equity of 48.97% and a net margin of 23.88%. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.86 earnings per share. research analysts predict that Verizon Communications Inc. will post 4.55 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Investors of record on Tuesday, April 10th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 5.03%. The ex-dividend date is Monday, April 9th. Verizon Communications’s dividend payout ratio (DPR) is presently 32.07%.
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About Verizon Communications
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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