Raab & Moskowitz Asset Management LLC raised its stake in shares of Verizon Communications (NYSE:VZ) by 8.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 73,308 shares of the cell phone carrier’s stock after purchasing an additional 5,526 shares during the quarter. Verizon Communications accounts for about 1.9% of Raab & Moskowitz Asset Management LLC’s investment portfolio, making the stock its 13th biggest position. Raab & Moskowitz Asset Management LLC’s holdings in Verizon Communications were worth $3,880,000 as of its most recent filing with the SEC.
Several other large investors also recently bought and sold shares of the company. Exane Derivatives acquired a new stake in shares of Verizon Communications during the 4th quarter valued at about $103,000. Stelac Advisory Services LLC acquired a new stake in shares of Verizon Communications during the 4th quarter valued at about $111,000. Delphi Private Advisors LLC acquired a new stake in shares of Verizon Communications during the 4th quarter valued at about $141,000. Tower View Investment Management & Research LLC acquired a new stake in shares of Verizon Communications during the 4th quarter valued at about $193,000. Finally, Riverbridge Partners LLC acquired a new stake in shares of Verizon Communications during the 4th quarter valued at about $201,000. Institutional investors own 64.10% of the company’s stock.
In other news, SVP Anthony T. Skiadas sold 1,974 shares of the company’s stock in a transaction that occurred on Tuesday, May 1st. The shares were sold at an average price of $49.44, for a total transaction of $97,594.56. Following the transaction, the senior vice president now directly owns 16,060 shares in the company, valued at $794,006.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.09% of the stock is currently owned by corporate insiders.
Verizon Communications opened at $47.74 on Friday, MarketBeat reports. The stock has a market capitalization of $197.52 billion, a price-to-earnings ratio of 12.76, a PEG ratio of 1.92 and a beta of 0.62. Verizon Communications has a 12 month low of $42.80 and a 12 month high of $54.77. The company has a current ratio of 0.98, a quick ratio of 0.94 and a debt-to-equity ratio of 2.15.
Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Tuesday, April 24th. The cell phone carrier reported $1.17 EPS for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.06. Verizon Communications had a net margin of 24.37% and a return on equity of 42.62%. The firm had revenue of $31.77 billion for the quarter, compared to analyst estimates of $31.25 billion. During the same period in the previous year, the business earned $0.95 earnings per share. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. research analysts predict that Verizon Communications will post 4.57 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, May 1st. Stockholders of record on Tuesday, April 10th were given a dividend of $0.59 per share. The ex-dividend date was Monday, April 9th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.94%. Verizon Communications’s payout ratio is 63.10%.
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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