Santori & Peters Inc. Invests $209,000 in Verizon Communications (VZ)

Santori & Peters Inc. purchased a new position in Verizon Communications (NYSE:VZ) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 4,209 shares of the cell phone carrier’s stock, valued at approximately $209,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Northstar Asset Management LLC lifted its position in shares of Verizon Communications by 2.9% during the 4th quarter. Northstar Asset Management LLC now owns 35,391 shares of the cell phone carrier’s stock valued at $1,873,000 after acquiring an additional 1,000 shares during the period. Halbert Hargrove Russell LLC lifted its position in shares of Verizon Communications by 19.3% during the 4th quarter. Halbert Hargrove Russell LLC now owns 6,268 shares of the cell phone carrier’s stock valued at $332,000 after acquiring an additional 1,013 shares during the period. Neville Rodie & Shaw Inc. lifted its position in shares of Verizon Communications by 1.4% during the 4th quarter. Neville Rodie & Shaw Inc. now owns 74,755 shares of the cell phone carrier’s stock valued at $3,957,000 after acquiring an additional 1,020 shares during the period. Tompkins Financial Corp lifted its position in shares of Verizon Communications by 1.4% during the 4th quarter. Tompkins Financial Corp now owns 77,349 shares of the cell phone carrier’s stock valued at $4,094,000 after acquiring an additional 1,043 shares during the period. Finally, Quadrant Capital Group LLC lifted its position in shares of Verizon Communications by 11.3% during the 4th quarter. Quadrant Capital Group LLC now owns 10,266 shares of the cell phone carrier’s stock valued at $527,000 after acquiring an additional 1,046 shares during the period. Hedge funds and other institutional investors own 64.10% of the company’s stock.

A number of research analysts recently issued reports on VZ shares. Scotia Howard Weill upgraded shares of Verizon Communications from a “sector perform” rating to a “sector outperform” rating in a research report on Monday, January 22nd. Howard Weil upgraded shares of Verizon Communications from a “sector perform” rating to a “sector outperform” rating in a research note on Monday, January 22nd. Scotiabank upgraded shares of Verizon Communications from a “sector perform” rating to a “buy” rating and set a $60.00 price target for the company in a research note on Monday, January 22nd. Macquarie restated a “hold” rating and set a $54.00 price target on shares of Verizon Communications in a research note on Wednesday, January 24th. Finally, SunTrust Banks boosted their price target on shares of Verizon Communications to $58.00 and gave the company a “hold” rating in a research note on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and sixteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $54.75.

Verizon Communications opened at $47.85 on Friday, according to MarketBeat.com. Verizon Communications has a 1 year low of $47.65 and a 1 year high of $48.02. The company has a debt-to-equity ratio of 2.15, a current ratio of 0.98 and a quick ratio of 0.94. The firm has a market capitalization of $197.28 billion, a PE ratio of 12.79, a PEG ratio of 1.91 and a beta of 0.62.

Verizon Communications (NYSE:VZ) last posted its earnings results on Tuesday, April 24th. The cell phone carrier reported $1.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.06. Verizon Communications had a net margin of 24.37% and a return on equity of 42.62%. The firm had revenue of $31.77 billion during the quarter, compared to analyst estimates of $31.25 billion. During the same quarter in the prior year, the business posted $0.95 EPS. The business’s revenue was up 6.6% compared to the same quarter last year. analysts forecast that Verizon Communications will post 4.57 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 1st. Investors of record on Tuesday, April 10th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Monday, April 9th. This represents a $2.36 annualized dividend and a yield of 4.93%. Verizon Communications’s payout ratio is currently 63.10%.

In related news, SVP Anthony T. Skiadas sold 1,974 shares of the stock in a transaction dated Tuesday, May 1st. The shares were sold at an average price of $49.44, for a total transaction of $97,594.56. Following the completion of the transaction, the senior vice president now owns 16,060 shares in the company, valued at $794,006.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.09% of the stock is currently owned by corporate insiders.

Verizon Communications Profile

Verizon Communications Inc, through its subsidiaries, offers communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company's Wireless segment provides wireless voice and data services; Internet access on various notebook computers and tablets; multimedia, business-focused, and location-based services, as well as international travel services; and network access services to deliver various Internet of Things products and services.

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

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