Verizon Communications Inc. (NYSE:VZ) Stock Position Lifted by Hoylecohen LLC

Hoylecohen LLC lifted its stake in shares of Verizon Communications Inc. (NYSE:VZGet Rating) by 6.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 177,953 shares of the cell phone carrier’s stock after purchasing an additional 11,253 shares during the quarter. Hoylecohen LLC’s holdings in Verizon Communications were worth $9,246,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Fisher Asset Management LLC boosted its position in shares of Verizon Communications by 19,095.1% in the fourth quarter. Fisher Asset Management LLC now owns 9,778,922 shares of the cell phone carrier’s stock worth $508,113,000 after buying an additional 9,727,977 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Verizon Communications by 8.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 56,847,194 shares of the cell phone carrier’s stock worth $2,953,781,000 after purchasing an additional 4,571,857 shares during the period. Renaissance Technologies LLC grew its stake in Verizon Communications by 244.7% in the 4th quarter. Renaissance Technologies LLC now owns 5,848,271 shares of the cell phone carrier’s stock valued at $303,876,000 after buying an additional 4,151,749 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Verizon Communications in the fourth quarter valued at about $194,012,000. Finally, Dimensional Fund Advisors LP increased its position in Verizon Communications by 14.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 28,703,731 shares of the cell phone carrier’s stock worth $1,550,430,000 after buying an additional 3,724,345 shares during the period. Hedge funds and other institutional investors own 63.78% of the company’s stock.

A number of equities analysts have recently issued reports on the stock. DZ Bank cut shares of Verizon Communications from a “hold” rating to a “sell” rating and set a $44.00 price objective for the company. in a research note on Friday, April 29th. JPMorgan Chase & Co. cut shares of Verizon Communications from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $62.00 to $56.00 in a research report on Wednesday, January 26th. William Blair reaffirmed a “market perform” rating on shares of Verizon Communications in a research note on Monday, April 25th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Verizon Communications from $56.00 to $57.00 in a research note on Tuesday, January 25th. Finally, Tigress Financial lifted their price objective on shares of Verizon Communications from $67.00 to $68.00 and gave the stock a “buy” rating in a research note on Friday, January 21st. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $57.93.

In other Verizon Communications news, CEO Tami A. Erwin sold 23,647 shares of the business’s stock in a transaction that occurred on Tuesday, April 26th. The stock was sold at an average price of $49.77, for a total transaction of $1,176,911.19. Following the completion of the transaction, the chief executive officer now owns 21,817 shares in the company, valued at $1,085,832.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Craig L. Silliman sold 1,558 shares of the business’s stock in a transaction that occurred on Thursday, March 3rd. The shares were sold at an average price of $54.48, for a total value of $84,879.84. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,763 shares of company stock worth $1,342,807. Insiders own 0.10% of the company’s stock.

Shares of NYSE VZ traded up $0.43 during midday trading on Friday, reaching $49.53. The company had a trading volume of 24,181,815 shares, compared to its average volume of 28,090,560. Verizon Communications Inc. has a one year low of $45.55 and a one year high of $57.61. The company has a quick ratio of 0.69, a current ratio of 0.76 and a debt-to-equity ratio of 1.64. The firm’s fifty day moving average price is $50.82 and its 200-day moving average price is $52.01. The stock has a market cap of $208.01 billion, a PE ratio of 9.62, a price-to-earnings-growth ratio of 2.53 and a beta of 0.42.

Verizon Communications (NYSE:VZGet Rating) last announced its earnings results on Friday, April 22nd. The cell phone carrier reported $1.35 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.35. Verizon Communications had a return on equity of 28.15% and a net margin of 15.93%. The firm had revenue of $33.60 billion during the quarter, compared to analyst estimates of $33.61 billion. During the same quarter in the prior year, the company earned $1.31 EPS. The business’s revenue was up 2.2% compared to the same quarter last year. As a group, equities research analysts expect that Verizon Communications Inc. will post 5.4 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, May 2nd. Investors of record on Friday, April 8th were issued a $0.64 dividend. The ex-dividend date was Thursday, April 7th. This represents a $2.56 dividend on an annualized basis and a yield of 5.17%. Verizon Communications’s dividend payout ratio is currently 49.71%.

Verizon Communications Company Profile (Get Rating)

Verizon Communications Inc, through its subsidiaries, offers communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. Its Consumer segment provides postpaid and prepaid service plans; internet access on notebook computers and tablets; wireless equipment, including smartphones and other handsets; and wireless-enabled internet devices, such as tablets, and other wireless-enabled connected devices comprising smart watches.

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Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

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