Seizert Capital Partners LLC Sells 56,745 Shares of Verizon Communications Inc. (VZ)
Seizert Capital Partners LLC reduced its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 11.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 442,826 shares of the cell phone carrier’s stock after selling 56,745 shares during the quarter. Seizert Capital Partners LLC’s holdings in Verizon Communications were worth $21,915,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of VZ. Private Vista LLC increased its holdings in Verizon Communications by 3,339.1% during the 2nd quarter. Private Vista LLC now owns 389,552 shares of the cell phone carrier’s stock valued at $143,000 after acquiring an additional 378,225 shares in the last quarter. Mountain Capital Investment Advisors Inc purchased a new position in Verizon Communications during the 2nd quarter valued at about $156,000. Regal Wealth Group Inc. increased its holdings in Verizon Communications by 0.7% during the 2nd quarter. Regal Wealth Group Inc. now owns 3,682 shares of the cell phone carrier’s stock valued at $164,000 after acquiring an additional 24 shares in the last quarter. Camarda Financial Advisors LLC increased its holdings in Verizon Communications by 11.3% during the 2nd quarter. Camarda Financial Advisors LLC now owns 3,749 shares of the cell phone carrier’s stock valued at $167,000 after acquiring an additional 382 shares in the last quarter. Finally, Atlantic Trust LLC grew its holdings in shares of Verizon Communications by 9.9% during the second quarter. Atlantic Trust LLC now owns 11,164 shares of the cell phone carrier’s stock worth $170,000 after buying an additional 1,005 shares in the last quarter. Hedge funds and other institutional investors own 63.21% of the company’s stock.
A number of brokerages have recently commented on VZ. HSBC downgraded shares of Verizon Communications from a “buy” rating to a “hold” rating and lowered their price target for the stock from $54.83 to $42.80 in a report on Thursday, December 14th. They noted that the move was a valuation call. Bank of America set a $52.00 price target on shares of Verizon Communications and gave the stock a “buy” rating in a report on Friday, October 20th. Robert W. Baird reiterated a “hold” rating and set a $49.00 price target on shares of Verizon Communications in a report on Wednesday, October 4th. ValuEngine upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Finally, KeyCorp reiterated a “hold” rating on shares of Verizon Communications in a report on Saturday, October 21st. Two analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $51.98.
Shares of Verizon Communications Inc. (NYSE VZ) opened at $51.69 on Thursday. The company has a debt-to-equity ratio of 4.05, a current ratio of 1.07 and a quick ratio of 1.02. Verizon Communications Inc. has a 12-month low of $42.80 and a 12-month high of $53.69. The stock has a market cap of $210,870.00, a P/E ratio of 13.25, a P/E/G ratio of 4.80 and a beta of 0.57.
Verizon Communications (NYSE:VZ) last released its earnings results on Thursday, October 19th. The cell phone carrier reported $0.98 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.98. Verizon Communications had a net margin of 12.80% and a return on equity of 58.66%. The business had revenue of $31.70 billion for the quarter, compared to analysts’ expectations of $31.45 billion. During the same period last year, the company earned $1.01 earnings per share. The company’s quarterly revenue was up 2.5% on a year-over-year basis. analysts anticipate that Verizon Communications Inc. will post 3.77 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Wednesday, January 10th will be given a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $2.36 annualized dividend and a dividend yield of 4.57%. Verizon Communications’s dividend payout ratio is presently 60.51%.
In related news, EVP Craig L. Silliman sold 610 shares of the firm’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $47.41, for a total value of $28,920.10. Following the sale, the executive vice president now directly owns 3,269 shares of the company’s stock, valued at $154,983.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.13% of the stock is currently owned by company insiders.
Verizon Communications 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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