Bogart Wealth LLC increased its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 0.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 42,616 shares of the cell phone carrier’s stock after acquiring an additional 249 shares during the period. Verizon Communications comprises about 1.2% of Bogart Wealth LLC’s investment portfolio, making the stock its 9th biggest position. Bogart Wealth LLC’s holdings in Verizon Communications were worth $2,395,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of VZ. Successful Portfolios LLC increased its stake in Verizon Communications by 1.5% in the fourth quarter. Successful Portfolios LLC now owns 13,512 shares of the cell phone carrier’s stock valued at $760,000 after purchasing an additional 200 shares in the last quarter. Advocacy Wealth Management Services LLC boosted its holdings in shares of Verizon Communications by 25.9% in the fourth quarter. Advocacy Wealth Management Services LLC now owns 1,265 shares of the cell phone carrier’s stock valued at $71,000 after buying an additional 260 shares during the period. Cohen Lawrence B boosted its holdings in shares of Verizon Communications by 0.4% in the fourth quarter. Cohen Lawrence B now owns 66,181 shares of the cell phone carrier’s stock valued at $3,721,000 after buying an additional 290 shares during the period. Curbstone Financial Management Corp boosted its holdings in Verizon Communications by 0.6% during the fourth 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 during the last quarter. Finally, Endurance Wealth Management Inc. boosted its holdings in Verizon Communications by 3.7% during the fourth quarter. Endurance Wealth Management Inc. now owns 9,748 shares of the cell phone carrier’s stock worth $548,000 after purchasing an additional 350 shares during the last quarter. Institutional investors and hedge funds own 66.90% of the company’s stock.
Several research firms have issued reports on VZ. ValuEngine lowered 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 price objective on the stock 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 has a consensus rating of “Hold” and an average price target of $56.07.
Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Tuesday, January 29th. The cell phone carrier reported $1.12 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.09 by $0.03. The firm had revenue of $34.28 billion for the quarter, compared to the consensus estimate of $34.45 billion. Verizon Communications had a net margin of 11.87% and a return on equity of 35.96%. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.86 EPS. On average, sell-side analysts expect that Verizon Communications Inc. will post 4.66 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be issued a $0.6025 dividend. This represents a $2.41 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date of this dividend is Tuesday, April 9th. Verizon Communications’s dividend payout ratio (DPR) is currently 51.17%.
In other news, Director Lowell C. Mcadam sold 285,988 shares of the company’s stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $56.72, for a total transaction of $16,221,239.36. Following the sale, the director now directly owns 362,932 shares in the company, valued at $20,585,503.04. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Craig L. Silliman sold 1,349 shares of the company’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $60.30, for a total value of $81,344.70. Following the sale, the executive vice president now owns 29,426 shares in the company, valued at $1,774,387.80. The disclosure for this sale can be found here. Insiders sold a total of 288,686 shares of company stock worth $16,379,639 over the last three months. 0.03% of the stock is owned by insiders.
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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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