Dividend Assets Capital LLC lessened its position in shares of Verizon Communications Inc. (NYSE:VZ) by 15.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,364 shares of the cell phone carrier’s stock after selling 1,944 shares during the quarter. Dividend Assets Capital LLC’s holdings in Verizon Communications were worth $583,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of VZ. Financial Sense Advisors Inc. boosted its stake in shares of Verizon Communications by 936.7% in the fourth quarter. Financial Sense Advisors Inc. now owns 121,301 shares of the cell phone carrier’s stock worth $6,820,000 after acquiring an additional 109,600 shares during the period. Valmark Advisers Inc. boosted its stake in shares of Verizon Communications by 5.3% in the fourth quarter. Valmark Advisers Inc. now owns 11,315 shares of the cell phone carrier’s stock worth $636,000 after acquiring an additional 572 shares during the period. Whitener Capital Management Inc. boosted its stake in shares of Verizon Communications by 1.2% in the fourth quarter. Whitener Capital Management Inc. now owns 19,235 shares of the cell phone carrier’s stock worth $1,081,000 after acquiring an additional 231 shares during the period. Cornell Pochily Investment Advisors Inc. boosted its stake in shares of Verizon Communications by 39.1% in the fourth quarter. Cornell Pochily Investment Advisors Inc. now owns 74,370 shares of the cell phone carrier’s stock worth $4,181,000 after acquiring an additional 20,921 shares during the period. Finally, Kovack Advisors Inc. boosted its stake in Verizon Communications by 13.2% during the fourth quarter. Kovack Advisors Inc. now owns 40,384 shares of the cell phone carrier’s stock valued at $2,270,000 after buying an additional 4,700 shares during the last quarter. Institutional investors own 65.51% of the company’s stock.
In other news, EVP Craig L. Silliman sold 1,349 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $56.06, for a total transaction of $75,624.94. Following the transaction, the executive vice president now directly owns 28,077 shares in the company, valued at approximately $1,573,996.62. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Anthony T. Skiadas sold 6,134 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $57.11, for a total value of $350,312.74. Following the completion of the transaction, the senior vice president now owns 20,000 shares in the company, valued at $1,142,200. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,181 shares of company stock valued at $584,243. 0.03% of the stock is owned by company insiders.
VZ traded down $0.12 on Friday, reaching $57.13. 14,601,400 shares of the stock were exchanged, compared to its average volume of 14,291,931. The firm’s 50-day moving average is $57.54. Verizon Communications Inc. has a fifty-two week low of $49.70 and a fifty-two week high of $61.58. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.83. The stock has a market capitalization of $236.77 billion, a price-to-earnings ratio of 12.13, a PEG ratio of 2.83 and a beta of 0.50.
Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Tuesday, April 23rd. The cell phone carrier reported $1.20 EPS for the quarter, topping the Zacks’ consensus estimate of $1.17 by $0.03. The company had revenue of $32.13 billion during the quarter, compared to analysts’ expectations of $32.13 billion. Verizon Communications had a return on equity of 35.40% and a net margin of 12.20%. The firm’s revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.17 EPS. As a group, equities analysts anticipate that Verizon Communications Inc. will post 4.75 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be paid a dividend of $0.6025 per share. The ex-dividend date of this dividend is Tuesday, July 9th. This represents a $2.41 annualized dividend and a yield of 4.22%. Verizon Communications’s dividend payout ratio (DPR) is currently 51.17%.
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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