Enterprise Financial Services Corp trimmed its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 2.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,342 shares of the cell phone carrier’s stock after selling 555 shares during the quarter. Verizon Communications comprises approximately 0.9% of Enterprise Financial Services Corp’s investment portfolio, making the stock its 25th biggest position. Enterprise Financial Services Corp’s holdings in Verizon Communications were worth $1,425,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in VZ. HC Financial Advisors Inc. boosted its position in Verizon Communications by 51.6% during the third quarter. HC Financial Advisors Inc. now owns 43,302 shares of the cell phone carrier’s stock worth $2,312,000 after acquiring an additional 14,739 shares during the last quarter. First Command Financial Services Inc. boosted its position in Verizon Communications by 2.9% during the third quarter. First Command Financial Services Inc. now owns 33,860 shares of the cell phone carrier’s stock worth $1,808,000 after acquiring an additional 964 shares during the last quarter. GW Henssler & Associates Ltd. boosted its position in Verizon Communications by 100.6% during the third quarter. GW Henssler & Associates Ltd. now owns 94,970 shares of the cell phone carrier’s stock worth $5,070,000 after acquiring an additional 47,638 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its position in Verizon Communications by 29.7% during the third quarter. Steward Partners Investment Advisory LLC now owns 198,503 shares of the cell phone carrier’s stock worth $10,598,000 after acquiring an additional 45,479 shares during the last quarter. Finally, Ironwood Investment Counsel LLC boosted its position in Verizon Communications by 4.3% during the third quarter. Ironwood Investment Counsel LLC now owns 30,338 shares of the cell phone carrier’s stock worth $1,619,000 after acquiring an additional 1,239 shares during the last quarter. 67.12% of the stock is owned by hedge funds and other institutional investors.
In related news, EVP Craig L. Silliman sold 1,349 shares of Verizon Communications 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Anthony T. Skiadas sold 6,134 shares of Verizon Communications stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $57.11, for a total transaction of $350,312.74. Following the sale, the senior vice president now directly owns 20,000 shares in the company, valued at approximately $1,142,200. The disclosure for this sale can be found here. Insiders have sold a total of 296,169 shares of company stock worth $16,805,577 in the last 90 days. Company insiders own 0.03% of the company’s stock.
VZ has been the topic of a number of analyst reports. ValuEngine lowered shares of Verizon Communications from a “buy” rating to a “hold” rating in a research report on Tuesday, January 29th. Goldman Sachs Group reiterated a “buy” rating and issued a $65.00 price target on shares of Verizon Communications in a report on Tuesday, April 23rd. Zacks Investment Research upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a report on Saturday, January 26th. Royal Bank of Canada reiterated a “neutral” rating and issued a $57.00 price target on shares of Verizon Communications in a report on Tuesday, April 23rd. Finally, Bank of America set a $64.00 price target on shares of Verizon Communications and gave the company a “buy” rating in a report on Tuesday, April 23rd. Ten investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Verizon Communications presently has a consensus rating of “Hold” and a consensus target price of $57.76.
Shares of NYSE:VZ traded down $0.25 during midday trading on Wednesday, hitting $59.25. 10,648,688 shares of the company’s stock traded hands, compared to its average volume of 14,386,369. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.83. The firm has a market capitalization of $243.59 billion, a price-to-earnings ratio of 12.58, a PEG ratio of 3.03 and a beta of 0.48. Verizon Communications Inc. has a twelve month low of $47.13 and a twelve month high of $61.58.
Verizon Communications (NYSE:VZ) last posted its earnings results on Tuesday, April 23rd. The cell phone carrier reported $1.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.03. The business had revenue of $32.13 billion for the quarter, compared to analyst estimates of $32.13 billion. Verizon Communications had a net margin of 12.20% and a return on equity of 35.40%. The business’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.17 EPS. On average, analysts predict that Verizon Communications Inc. will post 4.75 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th were issued a dividend of $0.6025 per share. The ex-dividend date was Tuesday, April 9th. This represents a $2.41 annualized dividend and a dividend yield of 4.07%. Verizon Communications’s payout ratio is 51.17%.
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Verizon Communications Company 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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