Successful Portfolios LLC raised its position in shares of Verizon Communications Inc. (NYSE:VZ) by 1.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,512 shares of the cell phone carrier’s stock after purchasing an additional 200 shares during the quarter. Successful Portfolios LLC’s holdings in Verizon Communications were worth $760,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Verizon Communications by 1.3% in the third quarter. Vanguard Group Inc. now owns 303,821,942 shares of the cell phone carrier’s stock worth $16,221,053,000 after purchasing an additional 3,957,224 shares during the last quarter. Vanguard Group Inc increased its position in Verizon Communications by 1.3% in the third quarter. Vanguard Group Inc now owns 303,821,942 shares of the cell phone carrier’s stock worth $16,221,053,000 after purchasing an additional 3,957,224 shares during the last quarter. BlackRock Inc. increased its position in Verizon Communications by 2.3% in the third quarter. BlackRock Inc. now owns 276,264,842 shares of the cell phone carrier’s stock worth $14,749,779,000 after purchasing an additional 6,117,952 shares during the last quarter. Capital World Investors increased its position in Verizon Communications by 9.9% in the third quarter. Capital World Investors now owns 71,733,981 shares of the cell phone carrier’s stock worth $3,829,877,000 after purchasing an additional 6,485,041 shares during the last quarter. Finally, FMR LLC increased its position in Verizon Communications by 8.6% in the second quarter. FMR LLC now owns 69,165,256 shares of the cell phone carrier’s stock worth $3,479,704,000 after purchasing an additional 5,481,532 shares during the last quarter. Institutional investors and hedge funds own 66.97% of the company’s stock.
In other news, EVP Craig L. Silliman sold 1,349 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $57.12, for a total transaction of $77,054.88. Following the transaction, the executive vice president now owns 25,549 shares in the company, valued at $1,459,358.88. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Lowell C. Mcadam sold 285,988 shares of the 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 in the company, valued at approximately $20,585,503.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 288,686 shares of company stock worth $16,379,639. Corporate insiders own 0.03% of the company’s stock.
Verizon Communications (NYSE:VZ) last announced its earnings results on Tuesday, January 29th. The cell phone carrier reported $1.12 EPS for the quarter, topping the Zacks’ consensus estimate of $1.09 by $0.03. The business had revenue of $34.28 billion during 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 firm’s revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.86 earnings per share. On average, equities analysts predict that Verizon Communications Inc. will post 4.66 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be issued a $0.6025 dividend. The ex-dividend date 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 presently 51.17%.
Several equities research analysts recently weighed in on VZ shares. ValuEngine cut shares of Verizon Communications from a “buy” rating to a “hold” rating in a research report on Tuesday, January 29th. Tigress Financial reiterated a “hold” rating on shares of Verizon Communications in a research report on Friday, December 28th. Finally, Zacks Investment Research upgraded 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. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Verizon Communications presently has a consensus rating of “Hold” and a consensus target price of $56.07.
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Verizon Communications 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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