Columbia Asset Management Boosts Stock Position in Verizon Communications Inc. (NYSE:VZ)

Columbia Asset Management boosted its holdings in shares of Verizon Communications Inc. (NYSE:VZFree Report) by 7.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 116,073 shares of the cell phone carrier’s stock after acquiring an additional 7,562 shares during the quarter. Columbia Asset Management’s holdings in Verizon Communications were worth $4,376,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Verizon Communications by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 351,625,025 shares of the cell phone carrier’s stock valued at $11,396,167,000 after purchasing an additional 930,367 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Verizon Communications by 4.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 98,027,542 shares of the cell phone carrier’s stock valued at $3,151,714,000 after buying an additional 4,527,387 shares in the last quarter. Norges Bank purchased a new stake in Verizon Communications during the 4th quarter valued at about $1,882,164,000. Northern Trust Corp grew its stake in Verizon Communications by 4.7% during the 3rd quarter. Northern Trust Corp now owns 44,621,839 shares of the cell phone carrier’s stock valued at $1,446,194,000 after purchasing an additional 2,015,139 shares during the last quarter. Finally, FMR LLC grew its stake in Verizon Communications by 17.0% during the 3rd quarter. FMR LLC now owns 28,400,326 shares of the cell phone carrier’s stock valued at $920,455,000 after purchasing an additional 4,134,150 shares during the last quarter. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Verizon Communications Trading Up 0.2 %

VZ stock traded up $0.07 during midday trading on Monday, hitting $40.13. 8,664,126 shares of the company’s stock were exchanged, compared to its average volume of 19,352,883. The business has a 50-day simple moving average of $40.34 and a two-hundred day simple moving average of $39.36. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 1.42. The stock has a market capitalization of $168.92 billion, a PE ratio of 14.98, a P/E/G ratio of 2.91 and a beta of 0.42. Verizon Communications Inc. has a 1-year low of $30.14 and a 1-year high of $43.42.

Verizon Communications (NYSE:VZGet Free Report) last released its quarterly earnings results on Monday, April 22nd. The cell phone carrier reported $1.15 EPS for the quarter, topping the consensus estimate of $1.12 by $0.03. Verizon Communications had a return on equity of 20.41% and a net margin of 8.44%. The business had revenue of $33 billion during the quarter, compared to analyst estimates of $33.23 billion. During the same period last year, the business posted $1.20 earnings per share. The company’s quarterly revenue was up .3% on a year-over-year basis. On average, sell-side analysts predict that Verizon Communications Inc. will post 4.6 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th were paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 6.63%. The ex-dividend date was Tuesday, April 9th. Verizon Communications’s dividend payout ratio is presently 99.25%.

Insider Buying and Selling at Verizon Communications

In other Verizon Communications news, CEO Kyle Malady sold 24,000 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $40.80, for a total value of $979,200.00. Following the sale, the chief executive officer now directly owns 35,201 shares in the company, valued at $1,436,200.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.03% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have weighed in on VZ. Wells Fargo & Company dropped their price target on Verizon Communications from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 23rd. Raymond James upped their target price on Verizon Communications from $42.00 to $46.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. UBS Group upped their target price on Verizon Communications from $37.00 to $43.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 24th. Royal Bank of Canada upped their target price on Verizon Communications from $36.00 to $40.00 and gave the stock a “sector perform” rating in a research note on Tuesday, April 2nd. Finally, Redburn Atlantic upgraded Verizon Communications from a “sell” rating to a “neutral” rating and upped their target price for the stock from $33.00 to $39.00 in a research note on Friday, March 22nd. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $44.36.

View Our Latest Research Report on Verizon Communications

Verizon Communications Profile

(Free Report)

Verizon Communications Inc, through its subsidiaries, engages in the provision of communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. It operates in two segments, Verizon Consumer Group (Consumer) and Verizon Business Group (Business).

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

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