Equitable Holdings Inc. trimmed its holdings in Verizon Communications Inc. (NYSE:VZ – Get Rating) by 1.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 137,751 shares of the cell phone carrier’s stock after selling 1,700 shares during the period. Equitable Holdings Inc.’s holdings in Verizon Communications were worth $7,158,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also bought and sold shares of the company. MYDA Advisors LLC acquired a new position in shares of Verizon Communications during the fourth quarter worth about $2,598,000. Stonegate Investment Group LLC acquired a new position in shares of Verizon Communications during the fourth quarter worth about $9,145,000. Bridgeworth LLC boosted its position in shares of Verizon Communications by 5.4% during the fourth quarter. Bridgeworth LLC now owns 10,225 shares of the cell phone carrier’s stock worth $531,000 after buying an additional 528 shares during the period. Cumberland Partners Ltd boosted its position in shares of Verizon Communications by 310.6% during the fourth quarter. Cumberland Partners Ltd now owns 75,960 shares of the cell phone carrier’s stock worth $3,946,000 after buying an additional 57,460 shares during the period. Finally, Great Valley Advisor Group Inc. boosted its position in shares of Verizon Communications by 45.6% during the fourth quarter. Great Valley Advisor Group Inc. now owns 108,290 shares of the cell phone carrier’s stock worth $5,697,000 after buying an additional 33,927 shares during the period. 63.78% of the stock is owned by hedge funds and other institutional investors.
Several analysts recently issued reports on the company. Tigress Financial upped their target price on Verizon Communications from $67.00 to $68.00 and gave the stock a “buy” rating in a report on Friday, January 21st. DZ Bank lowered Verizon Communications from a “hold” rating to a “sell” rating and set a $44.00 target price on the stock. in a report on Friday, April 29th. Deutsche Bank Aktiengesellschaft upped their price objective on Verizon Communications from $56.00 to $57.00 in a research note on Tuesday, January 25th. William Blair restated a “market perform” rating on shares of Verizon Communications in a research note on Monday, April 25th. Finally, The Goldman Sachs Group lowered Verizon Communications from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $61.00 to $55.00 in a research note on Monday, April 25th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $57.93.
Verizon Communications (NYSE:VZ – Get Rating) last announced its earnings results on Friday, April 22nd. The cell phone carrier reported $1.35 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.35. Verizon Communications had a return on equity of 28.15% and a net margin of 15.93%. The business had revenue of $33.60 billion during the quarter, compared to analyst estimates of $33.61 billion. During the same period last year, the company earned $1.31 EPS. Verizon Communications’s revenue for the quarter was up 2.2% compared to the same quarter last year. Equities analysts anticipate that Verizon Communications Inc. will post 5.4 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, May 2nd. Shareholders of record on Friday, April 8th were given a dividend of $0.64 per share. The ex-dividend date of this dividend was Thursday, April 7th. This represents a $2.56 annualized dividend and a dividend yield of 5.20%. Verizon Communications’s dividend payout ratio is currently 49.71%.
In other Verizon Communications news, EVP Craig L. Silliman sold 1,558 shares of the business’s stock in a transaction on Thursday, March 3rd. The shares were sold at an average price of $54.48, for a total transaction of $84,879.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Tami A. Erwin sold 23,647 shares of the business’s stock in a transaction on Tuesday, April 26th. The shares were sold at an average price of $49.77, for a total transaction of $1,176,911.19. Following the sale, the chief executive officer now directly owns 21,817 shares in the company, valued at approximately $1,085,832.09. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,763 shares of company stock worth $1,342,807. Insiders own 0.02% of the company’s stock.
Verizon Communications Company Profile (Get Rating)
Verizon Communications Inc, through its subsidiaries, offers communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. Its Consumer segment provides postpaid and prepaid service plans; internet access on notebook computers and tablets; wireless equipment, including smartphones and other handsets; and wireless-enabled internet devices, such as tablets, and other wireless-enabled connected devices comprising smart watches.
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