Verizon Communications Inc. (NYSE:VZ) Shares Bought by Waters Parkerson & CO. LLC
Waters Parkerson & CO. LLC lifted its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 2.5% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 334,296 shares of the cell phone carrier’s stock after acquiring an additional 8,045 shares during the period. Verizon Communications makes up approximately 1.5% of Waters Parkerson & CO. LLC’s investment portfolio, making the stock its 29th largest holding. Waters Parkerson & CO. LLC’s holdings in Verizon Communications were worth $16,544,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Private Advisor Group LLC grew its holdings in shares of Verizon Communications by 2.2% during the 3rd quarter. Private Advisor Group LLC now owns 505,896 shares of the cell phone carrier’s stock worth $24,824,000 after purchasing an additional 10,865 shares during the period. Financial Counselors Inc. boosted its holdings in Verizon Communications by 9.6% during the 3rd quarter. Financial Counselors Inc. now owns 594,983 shares of the cell phone carrier’s stock valued at $29,446,000 after acquiring an additional 52,328 shares during the period. National Planning Corp raised its position in Verizon Communications by 9.8% in the 3rd quarter. National Planning Corp now owns 96,902 shares of the cell phone carrier’s stock valued at $4,831,000 after purchasing an additional 8,624 shares in the last quarter. BB&T Investment Services Inc. raised its position in Verizon Communications by 29.6% in the 3rd quarter. BB&T Investment Services Inc. now owns 48,624 shares of the cell phone carrier’s stock valued at $2,414,000 after purchasing an additional 11,119 shares in the last quarter. Finally, Dearborn Partners LLC raised its position in Verizon Communications by 12.5% in the 3rd quarter. Dearborn Partners LLC now owns 240,167 shares of the cell phone carrier’s stock valued at $11,886,000 after purchasing an additional 26,661 shares in the last quarter. Hedge funds and other institutional investors own 64.37% of the company’s stock.
In related news, SVP Anthony T. Skiadas sold 6,967 shares of Verizon Communications stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $49.80, for a total transaction of $346,956.60. Following the sale, the senior vice president now directly owns 16,059 shares of the company’s stock, valued at $799,738.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.13% of the stock is owned by company insiders.
Verizon Communications (NYSE:VZ) last announced its quarterly earnings results on Tuesday, January 23rd. The cell phone carrier reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.02). The company had revenue of $33.96 billion for the quarter, compared to analyst estimates of $33.20 billion. Verizon Communications had a return on equity of 48.97% and a net margin of 23.88%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.86 earnings per share. equities research analysts expect that Verizon Communications Inc. will post 4.55 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 1st. Investors of record on Tuesday, April 10th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 4.89%. The ex-dividend date is Monday, April 9th. Verizon Communications’s dividend payout ratio (DPR) is presently 72.62%.
Several equities research analysts have recently weighed in on the company. Zacks Investment Research lowered Verizon Communications from a “buy” rating to a “hold” rating in a research report on Monday. Guggenheim started coverage on Verizon Communications in a research note on Tuesday. They set a “buy” rating and a $58.00 price target on the stock. Vetr downgraded Verizon Communications from a “strong-buy” rating to a “buy” rating and set a $54.24 target price on the stock. in a research note on Tuesday, March 6th. Moffett Nathanson upgraded Verizon Communications from a “neutral” rating to a “buy” rating in a research note on Wednesday, February 28th. Finally, Macquarie restated a “hold” rating and issued a $54.00 price target on shares of Verizon Communications in a research note on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and eleven have assigned a buy rating to the stock. Verizon Communications presently has an average rating of “Hold” and an average price target of $53.69.
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Verizon Communications Company Profile
Verizon Communications Inc is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. Its segments include Wireless and Wireline. The Wireless segment offers communications products and services, including wireless voice and data services and equipment sales, to consumer, business and government customers across the United States.
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