The company's most recent filing with the SEC shows that the stock price of the cell phone carrier increased by 0.9% in the fourth quarter. The fund held 11,407,037 of the stock of the mobile phone provider after selling 101,158 during the quarter. Principal Financial Group Inc. held approximately 0.27% in Verizon Communications, worth $449.437,000 at the time of its latest filing with SEC.
Some other hedge funds have also made recent changes to their holdings in the company. HBC Financial Services PLLC increased its Verizon Communications holdings by 250.0% in the fourth quarter. HBC Financial Services PLLC owns 700 shares worth $28,000 of the stock of the cell carrier after buying 500 additional shares in the last quarter. Luken Investment Analytics LLC purchased a stake in Verizon Communications shares during the fourth-quarter worth approximately $43,000. Worth Asset Management LLC purchased a new stake of Verizon Communications shares during the first quarter, worth approximately $58,000. Ten Capital Wealth Advisors LLC increased its stake in Verizon Communications shares by 38.7% over the third quarter. Ten Capital Wealth Advisors LLC owns 1,236 of the cell carrier's shares worth $47,000, after purchasing an additional 345 during the period. Avion Wealth increased its stake in Verizon Communications shares by 273.3% over the third quarter. Avion Wealth owns now 1,284 shares worth $49,000 of the stock of the cell carrier after purchasing an additional 940 during the period. VZ was the subject of a number of recent research reports. Royal Bank of Canada reduced their target price for shares of Verizon Communications, from $42.00 down to $40.00 and assigned a rating of'sector-perform' in a research report on Wednesday 25th January. Oppenheimer reiterated its 'outperform rating' and set a target price of $46.00 on Verizon Communications shares in a research report on Thursday, April 6. In a research report published on Wednesday, April 26, Verizon Communications shares were downgraded from a "buy" rating to a "hold". Citigroup increased their price target on Verizon Communications shares from $39.00 up to $42.00 in a report published on Thursday January 26th. The company was also given a neutral rating. Twelve analysts have given the company a hold recommendation and five others have given it a buy recommendation. According to MarketBeat.com Verizon Communications' consensus rating is 'Hold' with a consensus target price of $46.72.
Verizon Communications Price Performance
Trading was down by $0.02 at midday on Friday to $37.58. The trading volume was 2,685,539 compared to the average of 19,413,305. Verizon Communications Inc.'s 1 year low is $34.55 while its 1 year high is $52.18. The debt-to equity ratio for the company is 1.49. Its current ratio is 0.75, and its quick ratio 0.70. The company's market capitalization is $157.83billion, with a P/E of 7.32 and a P/E/G of 1.95, as well as a beta value of 0.37. The stock's simple 50-day moving average is 38.07, and its simple 200-day moving average is 38.72.
The last time ) released its results was on Tuesday, 25th April. The cell phone provider reported $1.20 in earnings per share for the third quarter, exceeding analysts' expectations of $1.19. Verizon Communications reported a net profit margin of 15.85%, and a return of equity of 23.31 percent. The company's revenue was $32,91 billion, which is lower than the $33.64 billion expected by analysts. In the same quarter last year, earnings per share were $1.35. The company's revenue for the quarter was down by 1.9% from last year. Analysts predict Verizon Communications Inc. to post an average of 4.68 earnings per share for the current fiscal year.
Verizon Communications Dividend Announcement
A quarterly dividend was also paid by the firm on May 1, 2018. Dividends were paid to shareholders who had their shares in the company's records on April 10th. The dividend was $0.6525. The ex-dividend day was April 6, 2019. The dividend yield is 6.95%. This dividend represents an annualized dividend of $2.61. Verizon Communications has a dividend payout ratio of 50.78%.
Verizon Insider Transactions
Other news is that CEO Kyle Malady has sold 6,226 of the company's shares in a deal which took place on March 15th. The shares were sold for an average price $36.69 and a total of $228.431.94. After the transaction was completed, the chief executive now owns directly 67,966 of the company's shares, worth approximately $2,493,672.54. Other news: EVP Craig L. Silliman, who is the company's executive vice president, sold 3,342 of its shares in a deal that took place on Monday, 27th March. The shares were sold for an average of $38.00. This totaled $126,996.00. After the transaction was completed, the executive vice-president now owns directly 76,355 of the company's shares, valued at around $2,901,490. Kyle Malady, the CEO of Verizon Communications, sold 6,226 Verizon Communications shares in a deal that took place on March 15th. The stock was bought at a price of $36.69 on average, for a transaction totaling $228,431.94. After the sale is complete, the CEO now owns directly 67,966 of the company's shares, valued at $2.493,672.54. In the past ninety-day period, insiders have sold 20,107 shares worth $749153. Corporate insiders hold 0.02% the stock of their company.
Verizon Communications, Inc. is a holding firm that provides communications, entertainment, and information products and services. The company operates under the Verizon Consumer Group and Verizon Business Group segments. The Consumer segment offers wireless and wireline communications products and services geared towards consumers.
MarketBeat.com offers a FREE daily email newsletter