Verizon Communications Inc. (VZ) Stake Held by Karpas Strategies LLC
Karpas Strategies LLC held its position in shares of Verizon Communications Inc. (NYSE:VZ) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,861 shares of the cell phone carrier’s stock at the end of the second quarter. Karpas Strategies LLC’s holdings in Verizon Communications were worth $351,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the stock. Horizon Kinetics LLC boosted its position in shares of Verizon Communications by 2.3% in the fourth quarter. Horizon Kinetics LLC now owns 31,002 shares of the cell phone carrier’s stock valued at $1,655,000 after buying an additional 693 shares during the last quarter. Capital International Inc. CA boosted its position in shares of Verizon Communications by 387.3% in the fourth quarter. Capital International Inc. CA now owns 57,310 shares of the cell phone carrier’s stock valued at $3,059,000 after buying an additional 45,550 shares during the last quarter. Menora Mivtachim Holdings LTD. boosted its position in shares of Verizon Communications by 1.1% in the fourth quarter. Menora Mivtachim Holdings LTD. now owns 1,592,020 shares of the cell phone carrier’s stock valued at $84,982,000 after buying an additional 18,030 shares during the last quarter. L & S Advisors Inc acquired a new position in shares of Verizon Communications during the fourth quarter valued at $551,000. Finally, Cigna Investments Inc. New acquired a new position in shares of Verizon Communications during the fourth quarter valued at $11,407,000. 62.33% of the stock is currently owned by institutional investors and hedge funds.
Shares of Verizon Communications Inc. (NYSE:VZ) traded down 0.485% on Wednesday, reaching $48.245. 4,466,142 shares of the company’s stock traded hands. The stock has a market cap of $196.81 billion, a price-to-earnings ratio of 12.402 and a beta of 0.56. The firm’s 50-day moving average is $45.73 and its 200-day moving average is $47.29. Verizon Communications Inc. has a 52-week low of $42.80 and a 52-week high of $54.83.
Verizon Communications (NYSE:VZ) last announced its earnings results on Thursday, July 27th. The cell phone carrier reported $0.96 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.96. Verizon Communications had a net margin of 12.88% and a return on equity of 63.06%. The business had revenue of $30.55 billion during the quarter, compared to analysts’ expectations of $29.84 billion. During the same period in the prior year, the company earned $0.94 earnings per share. The firm’s revenue was up .1% on a year-over-year basis. Analysts anticipate that Verizon Communications Inc. will post $3.79 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th were paid a $0.5775 dividend. The ex-dividend date was Thursday, July 6th. This represents a $2.31 dividend on an annualized basis and a dividend yield of 4.76%. Verizon Communications’s dividend payout ratio (DPR) is presently 59.23%.
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Several research firms have commented on VZ. SunTrust Banks, Inc. began coverage on shares of Verizon Communications in a research note on Tuesday, April 18th. They issued a “hold” rating and a $50.00 price objective for the company. Argus lowered shares of Verizon Communications from a “buy” rating to a “hold” rating in a research note on Friday, April 21st. Royal Bank Of Canada reiterated a “hold” rating and issued a $48.00 price objective on shares of Verizon Communications in a research note on Friday, April 21st. Macquarie reiterated a “neutral” rating and issued a $49.00 price objective (down previously from $50.00) on shares of Verizon Communications in a research note on Sunday, April 23rd. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $50.00 price objective (down previously from $51.00) on shares of Verizon Communications in a research note on Sunday, April 23rd. Two investment analysts have rated the stock with a sell rating, twenty-two have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $52.73.
In other news, EVP Craig L. Silliman sold 610 shares of the stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $45.00, for a total value of $27,450.00. Following the completion of the sale, the executive vice president now directly owns 8,429 shares of the company’s stock, valued at $379,305. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last three months, insiders sold 1,830 shares of company stock valued at $84,229. Corporate insiders own 0.13% of the company’s stock.
Verizon Communications Company 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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