RPG Investment Advisory LLC Decreases Position in Verizon Communications Inc. (VZ)

RPG Investment Advisory LLC cut its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 3.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 135,250 shares of the cell phone carrier’s stock after selling 5,187 shares during the quarter. Verizon Communications accounts for about 1.9% of RPG Investment Advisory LLC’s portfolio, making the stock its 8th largest position. RPG Investment Advisory LLC’s holdings in Verizon Communications were worth $7,604,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. Bank of New York Mellon Corp grew its holdings in Verizon Communications by 12,167,820.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 55,242,360 shares of the cell phone carrier’s stock worth $2,949,390,000 after acquiring an additional 55,241,906 shares during the last quarter. Capital International Investors grew its holdings in Verizon Communications by 23.0% during the 3rd quarter. Capital International Investors now owns 43,029,226 shares of the cell phone carrier’s stock worth $2,297,330,000 after acquiring an additional 8,034,336 shares during the last quarter. Morgan Stanley grew its holdings in Verizon Communications by 21.7% during the 3rd quarter. Morgan Stanley now owns 42,317,579 shares of the cell phone carrier’s stock worth $2,259,336,000 after acquiring an additional 7,558,041 shares during the last quarter. Capital World Investors grew its holdings in Verizon Communications by 9.9% during the 3rd quarter. Capital World Investors now owns 71,733,981 shares of the cell phone carrier’s stock worth $3,829,877,000 after acquiring an additional 6,485,041 shares during the last quarter. Finally, BlackRock Inc. grew its holdings in Verizon Communications by 2.3% during the 3rd quarter. BlackRock Inc. now owns 276,264,842 shares of the cell phone carrier’s stock worth $14,749,779,000 after acquiring an additional 6,117,952 shares during the last quarter. 66.90% of the stock is currently owned by institutional investors.

Shares of NYSE VZ opened at $59.09 on Tuesday. The company has a market capitalization of $244.09 billion, a PE ratio of 12.55, a PEG ratio of 3.08 and a beta of 0.51. Verizon Communications Inc. has a 52-week low of $46.08 and a 52-week high of $61.58. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.88 and a current ratio of 0.91.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Tuesday, January 29th. The cell phone carrier reported $1.12 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.09 by $0.03. The firm had revenue of $34.28 billion for the quarter, compared to the consensus estimate of $34.45 billion. Verizon Communications had a net margin of 11.87% and a return on equity of 35.96%. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.86 EPS. On average, equities research analysts expect that Verizon Communications Inc. will post 4.66 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be given a $0.6025 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $2.41 dividend on an annualized basis and a dividend yield of 4.08%. Verizon Communications’s dividend payout ratio (DPR) is currently 51.17%.

In related news, EVP Craig L. Silliman sold 1,349 shares of the business’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $60.30, for a total transaction of $81,344.70. Following the transaction, the executive vice president now owns 29,426 shares in the company, valued at approximately $1,774,387.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lowell C. Mcadam sold 285,988 shares of the business’s stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $56.72, for a total transaction of $16,221,239.36. Following the transaction, the director now owns 362,932 shares in the company, valued at approximately $20,585,503.04. The disclosure for this sale can be found here. Insiders sold a total of 288,686 shares of company stock worth $16,379,639 in the last 90 days. Corporate insiders own 0.03% of the company’s stock.

A number of research firms have weighed in on VZ. Morgan Stanley lowered shares of Verizon Communications from an “overweight” rating to an “equal weight” rating and set a $58.00 target price on the stock. in a report on Wednesday, December 12th. Zacks Investment Research raised shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a report on Saturday, January 26th. JPMorgan Chase & Co. lowered shares of Verizon Communications from an “overweight” rating to a “neutral” rating and set a $59.89 target price on the stock. in a report on Sunday, December 9th. ValuEngine lowered shares of Verizon Communications from a “buy” rating to a “hold” rating in a report on Tuesday, January 29th. Finally, Tigress Financial reissued a “hold” rating on shares of Verizon Communications in a report on Friday, December 28th. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $55.81.

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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; international travel wireless services; and network access services to deliver various Internet of Things products and services, as well as offers digital advertising and digital media services platforms.

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

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