Level Four Advisory Services LLC Has $1.95 Million Position in Verizon Communications Inc. (NYSE:VZ)
Level Four Advisory Services LLC increased its position in shares of Verizon Communications Inc. (NYSE:VZ) by 23.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,690 shares of the cell phone carrier’s stock after buying an additional 7,597 shares during the period. Level Four Advisory Services LLC’s holdings in Verizon Communications were worth $1,945,000 as of its most recent filing with the SEC.
A number of other large investors also recently bought and sold shares of the stock. Cobblestone Capital Advisors LLC NY raised its stake in Verizon Communications by 0.3% in the first quarter. Cobblestone Capital Advisors LLC NY now owns 19,401 shares of the cell phone carrier’s stock worth $946,000 after buying an additional 50 shares in the last quarter. Truepoint Inc. raised its stake in shares of Verizon Communications by 0.7% in the first quarter. Truepoint Inc. now owns 8,284 shares of the cell phone carrier’s stock valued at $404,000 after buying an additional 55 shares during the period. One Capital Management LLC raised its stake in shares of Verizon Communications by 0.6% in the first quarter. One Capital Management LLC now owns 8,702 shares of the cell phone carrier’s stock valued at $424,000 after buying an additional 56 shares during the period. Miles Capital Inc. raised its stake in shares of Verizon Communications by 1.7% in the fourth quarter. Miles Capital Inc. now owns 4,871 shares of the cell phone carrier’s stock valued at $260,000 after buying an additional 81 shares during the period. Finally, Horrell Capital Management Inc. raised its stake in shares of Verizon Communications by 0.4% in the first quarter. Horrell Capital Management Inc. now owns 27,260 shares of the cell phone carrier’s stock valued at $1,329,000 after buying an additional 100 shares during the period. 62.35% of the stock is currently owned by institutional investors.
Verizon Communications Inc. (VZ) traded up 0.08% during mid-day trading on Friday, hitting $48.06. The company had a trading volume of 10,420,529 shares. Verizon Communications Inc. has a 52-week low of $42.80 and a 52-week high of $54.83. The stock’s 50 day moving average price is $45.56 and its 200 day moving average price is $47.34. The firm has a market cap of $196.06 billion, a P/E ratio of 12.35 and a beta of 0.56.
Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Thursday, July 27th. The cell phone carrier reported $0.96 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.96. The firm had revenue of $30.55 billion during the quarter, compared to analyst estimates of $29.84 billion. Verizon Communications had a return on equity of 63.06% and a net margin of 12.88%. The firm’s quarterly revenue was up .1% on a year-over-year basis. During the same period last year, the company posted $0.94 EPS. On average, equities research analysts predict that Verizon Communications Inc. will post $3.79 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were paid a dividend of $0.5775 per share. This represents a $2.31 dividend on an annualized basis and a yield of 4.81%. The ex-dividend date was Thursday, July 6th. Verizon Communications’s payout ratio is currently 59.23%.
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Several equities research analysts have recently weighed in on VZ shares. Vetr raised Verizon Communications from a “hold” rating to a “buy” rating and set a $47.44 target price on the stock in a research report on Wednesday, June 21st. Cowen and Company reissued a “hold” rating and set a $49.00 target price on shares of Verizon Communications in a research report on Wednesday, July 19th. ValuEngine lowered Verizon Communications from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Zacks Investment Research lowered Verizon Communications from a “hold” rating to a “sell” rating in a research report on Tuesday, June 20th. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $48.00 target price on shares of Verizon Communications in a research report on Friday, April 21st. Two research analysts have rated the stock with a sell rating, twenty-two have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $52.73.
In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of the stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $45.34, for a total transaction of $27,657.40. Following the completion of the transaction, the executive vice president now directly owns 9,039 shares of the company’s stock, valued at approximately $409,828.26. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders have sold 1,830 shares of company stock valued at $84,229. 0.13% of the stock is currently owned by corporate insiders.
About Verizon Communications
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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