Verizon Communications Inc. (VZ) is Ibex Wealth Advisors’ 2nd Largest Position

Ibex Wealth Advisors reduced its stake in Verizon Communications Inc. (NYSE:VZ) by 0.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 171,448 shares of the cell phone carrier’s stock after selling 678 shares during the period. Verizon Communications makes up approximately 4.4% of Ibex Wealth Advisors’ portfolio, making the stock its 2nd biggest position. Ibex Wealth Advisors’ holdings in Verizon Communications were worth $9,639,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Dupont Capital Management Corp raised its holdings in Verizon Communications by 7.8% in the 4th quarter. Dupont Capital Management Corp now owns 150,684 shares of the cell phone carrier’s stock valued at $8,471,000 after buying an additional 10,851 shares during the period. Middleton & Co Inc MA raised its holdings in Verizon Communications by 1.1% in the 4th quarter. Middleton & Co Inc MA now owns 192,094 shares of the cell phone carrier’s stock valued at $10,799,000 after buying an additional 2,065 shares during the period. Cavalier Investments LLC purchased a new stake in Verizon Communications in the 4th quarter valued at about $1,073,000. State Board of Administration of Florida Retirement System raised its holdings in Verizon Communications by 0.8% in the 4th quarter. State Board of Administration of Florida Retirement System now owns 5,597,964 shares of the cell phone carrier’s stock valued at $314,718,000 after buying an additional 45,164 shares during the period. Finally, Naples Global Advisors LLC raised its holdings in Verizon Communications by 8.6% in the 4th quarter. Naples Global Advisors LLC now owns 8,958 shares of the cell phone carrier’s stock valued at $516,000 after buying an additional 708 shares during the period. Hedge funds and other institutional investors own 67.12% of the company’s stock.

In other news, SVP Anthony T. Skiadas sold 6,134 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $57.11, for a total transaction of $350,312.74. Following the completion of the transaction, the senior vice president now directly owns 20,000 shares of the company’s stock, valued at $1,142,200. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Lowell C. Mcadam sold 285,988 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $20,585,503.04. The disclosure for this sale can be found here. Over the last three months, insiders have sold 296,169 shares of company stock valued at $16,805,577. Corporate insiders own 0.03% of the company’s stock.

Several analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Verizon Communications from a “buy” rating to a “hold” rating in a report on Monday, May 6th. Royal Bank of Canada reiterated a “neutral” rating and set a $57.00 price target on shares of Verizon Communications in a research note on Tuesday, April 23rd. Bank of America set a $64.00 price target on shares of Verizon Communications and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Goldman Sachs Group reiterated a “buy” rating and set a $65.00 price target on shares of Verizon Communications in a research note on Tuesday, April 23rd. Finally, ValuEngine lowered shares of Verizon Communications from a “buy” rating to a “hold” rating in a research note on Tuesday, January 29th. Ten research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $57.76.

Shares of NYSE:VZ opened at $59.50 on Wednesday. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.83 and a current ratio of 0.87. The stock has a market cap of $243.22 billion, a price-to-earnings ratio of 12.63, a price-to-earnings-growth ratio of 3.03 and a beta of 0.48. Verizon Communications Inc. has a 1 year low of $47.13 and a 1 year high of $61.58.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Tuesday, April 23rd. The cell phone carrier reported $1.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.17 by $0.03. The company had revenue of $32.13 billion for the quarter, compared to analyst estimates of $32.13 billion. Verizon Communications had a net margin of 12.20% and a return on equity of 35.40%. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.17 earnings per share. Analysts anticipate that Verizon Communications Inc. will post 4.75 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th were given a dividend of $0.6025 per share. This represents a $2.41 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date of this dividend was Tuesday, April 9th. Verizon Communications’s dividend payout ratio is presently 51.17%.

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About Verizon Communications

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

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