State of Alaska Department of Revenue trimmed its holdings in Verizon Communications Inc. (NYSE:VZ) by 2.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 841,181 shares of the cell phone carrier’s stock after selling 17,446 shares during the period. Verizon Communications accounts for 0.9% of State of Alaska Department of Revenue’s holdings, making the stock its 10th largest position. State of Alaska Department of Revenue’s holdings in Verizon Communications were worth $47,289,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently made changes to their positions in VZ. Advocacy Wealth Management Services LLC grew its position in Verizon Communications by 25.9% in the 4th quarter. Advocacy Wealth Management Services LLC now owns 1,265 shares of the cell phone carrier’s stock worth $71,000 after purchasing an additional 260 shares in the last quarter. Curbstone Financial Management Corp grew its position in Verizon Communications by 0.6% in the 4th quarter. Curbstone Financial Management Corp now owns 52,270 shares of the cell phone carrier’s stock worth $2,630,000 after purchasing an additional 328 shares in the last quarter. Alta Capital Management LLC grew its position in Verizon Communications by 1.6% in the 4th quarter. Alta Capital Management LLC now owns 42,372 shares of the cell phone carrier’s stock worth $2,382,000 after purchasing an additional 685 shares in the last quarter. HBK Sorce Advisory LLC grew its position in Verizon Communications by 1.4% in the 3rd quarter. HBK Sorce Advisory LLC now owns 64,695 shares of the cell phone carrier’s stock worth $3,454,000 after purchasing an additional 879 shares in the last quarter. Finally, Wade G W & Inc. grew its position in shares of Verizon Communications by 2.0% during the 3rd quarter. Wade G W & Inc. now owns 45,899 shares of the cell phone carrier’s stock valued at $2,451,000 after acquiring an additional 888 shares during the period. Institutional investors and hedge funds own 66.90% of the company’s stock.
A number of research analysts have recently weighed in on the stock. ValuEngine downgraded shares of Verizon Communications from a “buy” rating to a “hold” rating in a research report on Tuesday, January 29th. Zacks Investment Research raised shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research report on Saturday, January 26th. Finally, Tigress Financial reissued a “hold” rating on shares of Verizon Communications in a research report on Friday, December 28th. Nine equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $56.07.
Shares of Verizon Communications stock traded down $0.03 on Monday, hitting $58.71. 7,718,583 shares of the company traded hands, compared to its average volume of 14,625,600. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.88 and a current ratio of 0.91. The stock has a market cap of $242.29 billion, a P/E ratio of 12.46, a price-to-earnings-growth ratio of 2.62 and a beta of 0.51. Verizon Communications Inc. has a 12-month low of $46.08 and a 12-month high of $61.58.
Verizon Communications (NYSE:VZ) last issued its earnings results on Tuesday, January 29th. The cell phone carrier reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.03. The company had revenue of $34.28 billion for the quarter, compared to analysts’ expectations of $34.45 billion. Verizon Communications had a net margin of 11.87% and a return on equity of 35.96%. The firm’s revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.86 EPS. On average, analysts predict that Verizon Communications Inc. will post 4.66 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be given a $0.6025 dividend. This represents a $2.41 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date of this dividend is Tuesday, April 9th. Verizon Communications’s payout ratio is presently 51.17%.
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Verizon Communications Company 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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