Sfmg LLC Has $1.99 Million Position in Verizon Communications Inc. (VZ)
Sfmg LLC decreased its position in shares of Verizon Communications Inc. (NYSE:VZ) by 0.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,805 shares of the cell phone carrier’s stock after selling 80 shares during the period. Verizon Communications comprises 0.4% of Sfmg LLC’s investment portfolio, making the stock its 24th largest position. Sfmg LLC’s holdings in Verizon Communications were worth $1,989,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Portfolio Solutions LLC bought a new position in Verizon Communications during the first quarter worth about $179,000. Feltz Wealth PLAN Inc. purchased a new position in Verizon Communications during the first quarter valued at approximately $184,000. Mascoma Wealth Management LLC boosted its position in Verizon Communications by 10.5% in the first quarter. Mascoma Wealth Management LLC now owns 4,227 shares of the cell phone carrier’s stock valued at $206,000 after buying an additional 403 shares in the last quarter. Hays Advisory LLC boosted its position in Verizon Communications by 11.8% in the first quarter. Hays Advisory LLC now owns 4,479 shares of the cell phone carrier’s stock valued at $218,000 after buying an additional 474 shares in the last quarter. Finally, Conestoga Capital Advisors LLC boosted its position in Verizon Communications by 9.8% in the first quarter. Conestoga Capital Advisors LLC now owns 4,462 shares of the cell phone carrier’s stock valued at $218,000 after buying an additional 400 shares in the last quarter. Institutional investors and hedge funds own 62.32% of the company’s stock.
Verizon Communications Inc. (NYSE VZ) traded down 0.372% on Monday, hitting $48.499. 987,044 shares of the stock were exchanged. The firm has a market cap of $197.85 billion, a P/E ratio of 12.468 and a beta of 0.56. Verizon Communications Inc. has a 12 month low of $42.80 and a 12 month high of $54.83. The company has a 50-day moving average of $46.51 and a 200 day moving average of $47.29.
Verizon Communications (NYSE:VZ) last issued 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. The business had revenue of $30.55 billion during the quarter, compared to analysts’ expectations of $29.84 billion. Verizon Communications had a net margin of 12.88% and a return on equity of 63.06%. The company’s quarterly revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.94 earnings per share. Equities research analysts expect that Verizon Communications Inc. will post $3.78 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th were given a $0.5775 dividend. This represents a $2.31 dividend on an annualized basis and a dividend yield of 4.75%. The ex-dividend date was Thursday, July 6th. Verizon Communications’s dividend payout ratio (DPR) is 59.23%.
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VZ has been the topic of several recent analyst reports. Vetr raised shares of 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 cut shares of Verizon Communications from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Zacks Investment Research cut shares of Verizon Communications from a “hold” rating to a “sell” rating in a research report on Tuesday, June 20th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $50.00 target price on shares of Verizon Communications in a research report on Monday, July 3rd. Two research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $52.73.
In other news, EVP Craig L. Silliman sold 610 shares of the stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $45.34, for a total value of $27,657.40. Following the completion of the sale, the executive vice president now directly owns 9,039 shares in the company, valued at $409,828.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 1,830 shares of company stock valued at $84,229 over the last quarter. Company insiders own 0.13% of the company’s stock.
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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