CX Institutional cut its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 34.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 687 shares of the cell phone carrier’s stock after selling 359 shares during the period. CX Institutional’s holdings in Verizon Communications were worth $39,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Advocacy Wealth Management Services LLC lifted its holdings in 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 acquiring an additional 260 shares during the period. Highwater Wealth Management LLC purchased a new position in shares of Verizon Communications in the fourth quarter valued at $87,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Verizon Communications in the third quarter valued at $107,000. Barnett & Company Inc. increased its position in shares of Verizon Communications by 152.3% in the third quarter. Barnett & Company Inc. now owns 2,445 shares of the cell phone carrier’s stock valued at $131,000 after buying an additional 1,476 shares in the last quarter. Finally, Psagot Investment House Ltd. increased its position in shares of Verizon Communications by 157.4% in the third quarter. Psagot Investment House Ltd. now owns 3,500 shares of the cell phone carrier’s stock valued at $187,000 after buying an additional 2,140 shares in the last quarter. Institutional investors and hedge funds own 66.97% of the company’s stock.
In related news, EVP Craig L. Silliman sold 1,349 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $57.12, for a total transaction of $77,054.88. Following the transaction, the executive vice president now directly owns 25,549 shares of the company’s stock, valued at approximately $1,459,358.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lowell C. Mcadam sold 285,988 shares of the business’s stock in a transaction that occurred on Tuesday, February 26th. The stock was sold at an average price of $56.72, for a total value of $16,221,239.36. Following the transaction, the director now directly owns 362,932 shares in the company, valued at $20,585,503.04. 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 ninety days. Corporate insiders own 0.03% of the company’s stock.
Shares of NYSE VZ traded up $0.26 during midday trading on Friday, hitting $58.04. The stock had a trading volume of 13,189,013 shares, compared to its average volume of 13,257,177. The firm has a market capitalization of $239.59 billion, a P/E ratio of 12.32, a P/E/G ratio of 2.60 and a beta of 0.51. Verizon Communications Inc. has a 1-year low of $46.08 and a 1-year high of $61.58. The company has a debt-to-equity ratio of 1.94, a current ratio of 0.91 and a quick ratio of 0.88.
Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Tuesday, January 29th. The cell phone carrier reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.03. The business had revenue of $34.28 billion for the quarter, compared to analyst estimates of $34.45 billion. Verizon Communications had a return on equity of 35.96% and a net margin of 11.87%. The company’s revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.86 EPS. On average, equities research analysts expect that Verizon Communications Inc. will post 4.66 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be paid a $0.6025 dividend. This represents a $2.41 annualized dividend and a dividend yield of 4.15%. The ex-dividend date is Tuesday, April 9th. Verizon Communications’s dividend payout ratio is currently 51.17%.
About Verizon Communications
Verizon Communications, Inc is a holding company, which engages in the provision communications, information and entertainment products and services to consumers, businesses and governmental agencies. It operates through Wireless and Wireline segments. The Wireless segment provides wireless voice and data services and equipment sales, which are provided to consumer, business, and government customers.
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