Simmons Bank Boosts Holdings in Verizon Communications Inc. (VZ)

Simmons Bank raised its stake in Verizon Communications Inc. (NYSE:VZ) by 1.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 196,584 shares of the cell phone carrier’s stock after buying an additional 2,782 shares during the period. Verizon Communications makes up about 1.2% of Simmons Bank’s investment portfolio, making the stock its 18th largest holding. Simmons Bank’s holdings in Verizon Communications were worth $11,052,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. We Are One Seven LLC grew its position in Verizon Communications by 52.2% during the 4th quarter. We Are One Seven LLC now owns 13,560 shares of the cell phone carrier’s stock worth $762,000 after purchasing an additional 4,652 shares in the last quarter. Jackson Wealth Management LLC grew its position in Verizon Communications by 1.3% during the 4th quarter. Jackson Wealth Management LLC now owns 42,443 shares of the cell phone carrier’s stock worth $2,386,000 after purchasing an additional 526 shares in the last quarter. Osborn Williams & Donohoe LLC grew its position in Verizon Communications by 19.6% during the 4th quarter. Osborn Williams & Donohoe LLC now owns 12,819 shares of the cell phone carrier’s stock worth $720,000 after purchasing an additional 2,100 shares in the last quarter. Jentner Corp purchased a new position in Verizon Communications during the 4th quarter worth approximately $386,000. Finally, Evermay Wealth Management LLC grew its position in Verizon Communications by 1.7% during the 4th quarter. Evermay Wealth Management LLC now owns 13,773 shares of the cell phone carrier’s stock worth $774,000 after purchasing an additional 232 shares in the last quarter. 66.97% of the stock is currently owned by institutional investors.

Verizon Communications stock opened at $55.85 on Friday. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.88 and a current ratio of 0.87. Verizon Communications Inc. has a 12 month low of $46.08 and a 12 month high of $61.58. The firm has a market cap of $235.91 billion, a PE ratio of 11.86, a P/E/G ratio of 2.55 and a beta of 0.51.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Tuesday, April 23rd. The cell phone carrier reported $1.20 EPS for the quarter, beating the consensus estimate of $1.17 by $0.03. Verizon Communications had a net margin of 12.20% and a return on equity of 35.40%. The business had revenue of $32.13 billion for the quarter, compared to analysts’ expectations of $32.13 billion. During the same period in the previous year, the company posted $1.17 EPS. Verizon Communications’s revenue was up 1.1% on a year-over-year basis. As a group, equities analysts expect that Verizon Communications Inc. will post 4.66 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be issued a dividend of $0.6025 per share. This represents a $2.41 annualized dividend and a dividend yield of 4.32%. The ex-dividend date is Tuesday, April 9th. Verizon Communications’s dividend payout ratio is currently 51.17%.

In related news, Director Lowell C. Mcadam sold 285,988 shares of Verizon Communications stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $56.72, for a total value of $16,221,239.36. Following the completion of the sale, the director now owns 362,932 shares of the company’s stock, valued at approximately $20,585,503.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Craig L. Silliman sold 1,349 shares of Verizon Communications stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $60.30, for a total transaction of $81,344.70. Following the completion of the sale, the executive vice president now directly owns 29,426 shares of the company’s stock, valued at approximately $1,774,387.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 288,686 shares of company stock valued at $16,379,639. 0.03% of the stock is owned by company insiders.

VZ has been the topic of several research analyst reports. ValuEngine cut shares of Verizon Communications from a “buy” rating to a “hold” rating in a research report on Tuesday, January 29th. Goldman Sachs Group reiterated a “buy” rating and set a $65.00 price objective on shares of Verizon Communications in a research report on Tuesday. Tigress Financial reiterated a “hold” rating on shares of Verizon Communications in a research report on Friday, December 28th. 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. Finally, Bank of America set a $64.00 price objective on shares of Verizon Communications and gave the stock a “buy” rating in a research report on Tuesday. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $57.76.

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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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Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

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