NTV Asset Management LLC decreased its stake in Verizon Communications (NYSE:VZ) by 2.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,704 shares of the cell phone carrier’s stock after selling 1,660 shares during the quarter. NTV Asset Management LLC’s holdings in Verizon Communications were worth $3,531,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Vantage Financial Partners Ltd. Inc. purchased a new stake in shares of Verizon Communications during the second quarter worth about $623,000. Exane Derivatives purchased a new stake in shares of Verizon Communications during the fourth quarter worth about $103,000. IFG Advisory LLC purchased a new stake in shares of Verizon Communications during the fourth quarter worth about $2,055,000. Delphi Private Advisors LLC purchased a new stake in shares of Verizon Communications during the fourth quarter worth about $141,000. Finally, Shine Investment Advisory Services Inc. grew its position in shares of Verizon Communications by 190.9% during 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 in the last quarter. Institutional investors and hedge funds own 64.04% of the company’s stock.
In related news, SVP Anthony T. Skiadas sold 6,967 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $49.80, for a total transaction 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 approximately $799,738.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.09% of the stock is owned by company insiders.
Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Tuesday, April 24th. The cell phone carrier reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.06. The business had revenue of $31.77 billion during the quarter, compared to analyst estimates of $31.25 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 6.6% on a year-over-year basis. During the same period last year, the company earned $0.95 EPS. research analysts expect that Verizon Communications will post 4.54 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Tuesday, April 10th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 4.75%. The ex-dividend date of this dividend is Monday, April 9th. Verizon Communications’s payout ratio is 63.10%.
VZ has been the subject of several research analyst reports. HSBC upgraded Verizon Communications from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research report on Wednesday, March 28th. Vetr upgraded Verizon Communications from a “buy” rating to a “strong-buy” rating and set a $53.82 price target for the company in a report on Tuesday, March 20th. Moffett Nathanson cut Verizon Communications from a “buy” rating to a “neutral” rating in a report on Tuesday, January 16th. Scotiabank upgraded Verizon Communications from a “sector perform” rating to a “buy” rating and set a $60.00 price target for the company in a report on Monday, January 22nd. Finally, KeyCorp raised their price target on Verizon Communications from $50.00 to $53.00 and gave the company a “sector weight” rating in a report on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $55.19.
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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; multimedia, business-focused, and location-based services, as well as international travel services; and network access services to deliver various Internet of Things products and services.
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