Smith & Howard Wealth Management LLC acquired a new position in shares of Verizon Communications Inc. (NYSE:VZ) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 5,743 shares of the cell phone carrier’s stock, valued at approximately $323,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Hengehold Capital Management LLC increased its position in shares of Verizon Communications by 0.4% during the fourth quarter. Hengehold Capital Management LLC now owns 47,560 shares of the cell phone carrier’s stock valued at $2,674,000 after acquiring an additional 179 shares during the last quarter. Successful Portfolios LLC boosted its stake in shares of 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 during the period. CKW Financial Group boosted its stake in shares of Verizon Communications by 2.7% in the fourth quarter. CKW Financial Group now owns 7,637 shares of the cell phone carrier’s stock valued at $429,000 after purchasing an additional 200 shares during the period. Farmers Trust Co. boosted its stake in shares of Verizon Communications by 0.7% in the fourth quarter. Farmers Trust Co. now owns 33,212 shares of the cell phone carrier’s stock valued at $1,867,000 after purchasing an additional 217 shares during the period. Finally, Bogart Wealth LLC boosted its stake in shares of Verizon Communications by 0.6% in the fourth quarter. Bogart Wealth LLC now owns 42,616 shares of the cell phone carrier’s stock valued at $2,395,000 after purchasing an additional 249 shares during the period. Hedge funds and other institutional investors own 66.97% of the company’s stock.
Several research analysts have recently commented on VZ shares. Tigress Financial reissued a “hold” rating on shares of Verizon Communications in a research note on Friday, December 28th. ValuEngine lowered shares of Verizon Communications from a “buy” rating to a “hold” rating in a research note on Tuesday, January 29th. Finally, Zacks Investment Research raised shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a research note on Saturday, January 26th. Nine equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $56.07.
Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Tuesday, January 29th. The cell phone carrier reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.03. Verizon Communications had a net margin of 11.87% and a return on equity of 35.96%. The company had revenue of $34.28 billion during the quarter, compared to the consensus estimate of $34.45 billion. During the same quarter in the previous year, the firm earned $0.86 earnings per share. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. On average, equities research analysts anticipate that Verizon Communications Inc. will post 4.66 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be paid a $0.6025 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $2.41 dividend on an annualized basis and a yield of 4.15%. Verizon Communications’s dividend payout ratio is currently 51.17%.
In related news, EVP Craig L. Silliman sold 1,349 shares of Verizon Communications stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $60.30, for a total value of $81,344.70. Following the completion of the transaction, the executive vice president now owns 29,426 shares in the company, valued at $1,774,387.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lowell C. Mcadam sold 285,988 shares of Verizon Communications stock in a transaction that occurred on 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 completion of the transaction, the director now owns 362,932 shares of the company’s stock, valued at approximately $20,585,503.04. The disclosure for this sale can be found here. Insiders sold 288,686 shares of company stock valued at $16,379,639 in the last quarter. 0.03% of the stock is owned by insiders.
Verizon Communications Company Profile
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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