Verizon Communications Inc. (VZ) Holdings Lessened by Gofen & Glossberg LLC IL
Gofen & Glossberg LLC IL reduced its holdings in Verizon Communications Inc. (NYSE:VZ) by 1.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 422,196 shares of the cell phone carrier’s stock after selling 7,548 shares during the quarter. Gofen & Glossberg LLC IL’s holdings in Verizon Communications were worth $20,894,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Verizon Communications by 2.1% during the second quarter. Vanguard Group Inc. now owns 282,894,542 shares of the cell phone carrier’s stock worth $12,634,070,000 after buying an additional 5,837,702 shares in the last quarter. Capital Research Global Investors grew its stake in Verizon Communications by 15.1% in the second quarter. Capital Research Global Investors now owns 153,408,016 shares of the cell phone carrier’s stock valued at $6,851,202,000 after purchasing an additional 20,070,391 shares in the last quarter. FMR LLC grew its stake in Verizon Communications by 15.0% in the second quarter. FMR LLC now owns 61,833,096 shares of the cell phone carrier’s stock valued at $2,761,466,000 after purchasing an additional 8,077,275 shares in the last quarter. Legal & General Group Plc grew its stake in Verizon Communications by 2.7% in the third quarter. Legal & General Group Plc now owns 24,495,234 shares of the cell phone carrier’s stock valued at $1,212,227,000 after purchasing an additional 636,014 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in Verizon Communications by 19.9% in the second quarter. Franklin Resources Inc. now owns 21,820,729 shares of the cell phone carrier’s stock valued at $974,515,000 after purchasing an additional 3,623,182 shares in the last quarter. Institutional investors own 64.21% of the company’s stock.
In other news, SVP Anthony T. Skiadas sold 6,967 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $49.80, for a total value of $346,956.60. Following the completion of 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 legal filing with the SEC, which is accessible through this link. Company insiders own 0.13% of the company’s stock.
Shares of Verizon Communications Inc. (VZ) opened at $48.26 on Friday. Verizon Communications Inc. has a 52-week low of $42.80 and a 52-week high of $54.77. The stock has a market capitalization of $196,870.00, a P/E ratio of 14.85, a PEG ratio of 1.94 and a beta of 0.67. The company has a debt-to-equity ratio of 2.54, a current ratio of 0.91 and a quick ratio of 0.87.
Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Tuesday, January 23rd. The cell phone carrier reported $0.86 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.88 by ($0.02). Verizon Communications had a net margin of 23.88% and a return on equity of 48.97%. The business had revenue of $33.96 billion during the quarter, compared to analyst estimates of $33.20 billion. During the same period in the previous year, the business earned $0.86 earnings per share. The business’s quarterly revenue was up 2.2% on a year-over-year basis. sell-side analysts anticipate that Verizon Communications Inc. will post 4.54 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th were given a $0.59 dividend. The ex-dividend date was Tuesday, January 9th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.89%. Verizon Communications’s payout ratio is 72.62%.
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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