Joel Isaacson & Co. LLC lessened its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 11.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 34,569 shares of the cell phone carrier’s stock after selling 4,559 shares during the quarter. Joel Isaacson & Co. LLC’s holdings in Verizon Communications were worth $1,711,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the company. Vantage Financial Partners Ltd. Inc. acquired a new position in shares of Verizon Communications in the 2nd quarter valued at $623,000. Shine Investment Advisory Services Inc. increased its holdings in shares of Verizon Communications by 190.9% in the 3rd quarter. Shine Investment Advisory Services Inc. now owns 2,705 shares of the cell phone carrier’s stock valued at $134,000 after acquiring an additional 1,775 shares during the period. Legacy Advisors LLC acquired a new position in shares of Verizon Communications in the 3rd quarter valued at $132,000. Mountain Capital Investment Advisors Inc acquired a new position in shares of Verizon Communications in the 2nd quarter valued at $156,000. Finally, Regal Wealth Group Inc. increased its holdings in shares of Verizon Communications by 0.7% in the 2nd quarter. Regal Wealth Group Inc. now owns 3,682 shares of the cell phone carrier’s stock valued at $164,000 after acquiring an additional 24 shares during the period. Institutional investors and hedge funds own 63.22% of the company’s stock.
Several equities analysts have issued reports on the stock. Macquarie reissued a “hold” rating and issued a $52.00 price objective on shares of Verizon Communications in a research note on Sunday, October 22nd. SunTrust Banks reissued a “hold” rating and issued a $50.00 price objective on shares of Verizon Communications in a research note on Friday, October 20th. Moffett Nathanson reissued a “buy” rating on shares of Verizon Communications in a research note on Thursday, October 12th. Wells Fargo & Co raised shares of Verizon Communications from a “market perform” rating to an “outperform” rating and set a $50.00 price objective on the stock in a research note on Monday, November 20th. Finally, Instinet boosted their price objective on shares of Verizon Communications from $47.00 to $61.00 and gave the company a “buy” rating in a research note on Tuesday, December 12th. Two equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Verizon Communications presently has a consensus rating of “Hold” and an average price target of $51.98.
Shares of Verizon Communications Inc. (NYSE:VZ) opened at $51.55 on Friday. The company has a market cap of $210,300.00, a price-to-earnings ratio of 13.22, a price-to-earnings-growth ratio of 4.67 and a beta of 0.57. Verizon Communications Inc. has a 1 year low of $42.80 and a 1 year high of $53.69. The company has a debt-to-equity ratio of 4.05, a quick ratio of 1.02 and a current ratio of 1.07.
Verizon Communications (NYSE:VZ) last issued its earnings results on Thursday, October 19th. The cell phone carrier reported $0.98 EPS for the quarter, hitting the consensus estimate of $0.98. The company had revenue of $31.70 billion for the quarter, compared to analyst estimates of $31.45 billion. Verizon Communications had a net margin of 12.80% and a return on equity of 58.66%. The business’s revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.01 EPS. sell-side analysts predict that Verizon Communications Inc. will post 3.77 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th will be given a dividend of $0.59 per share. The ex-dividend date is Tuesday, January 9th. This represents a $2.36 annualized dividend and a dividend yield of 4.58%. Verizon Communications’s payout ratio is currently 60.51%.
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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