Epstein & White Financial LLC Takes $963,000 Position in Verizon Communications (VZ)

Epstein & White Financial LLC bought a new position in Verizon Communications (NYSE:VZ) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 18,490 shares of the cell phone carrier’s stock, valued at approximately $963,000. Verizon Communications accounts for 0.6% of Epstein & White Financial LLC’s investment portfolio, making the stock its 26th largest holding.

A number of other institutional investors and hedge funds have also recently bought and sold shares of VZ. Exane Derivatives acquired a new stake in shares of Verizon Communications during the fourth quarter worth $103,000. Legacy Advisors LLC acquired a new stake in shares of Verizon Communications during the third quarter worth $132,000. Shine Investment Advisory Services Inc. raised its holdings in shares of Verizon Communications by 190.9% during the third quarter. Shine Investment Advisory Services Inc. now owns 2,705 shares of the cell phone carrier’s stock worth $134,000 after acquiring an additional 1,775 shares during the period. Mountain Capital Investment Advisors Inc acquired a new stake in shares of Verizon Communications during the second quarter worth $156,000. Finally, Regal Wealth Group Inc. raised its holdings in shares of Verizon Communications by 0.7% during the second quarter. Regal Wealth Group Inc. now owns 3,682 shares of the cell phone carrier’s stock worth $164,000 after acquiring an additional 24 shares during the period. Institutional investors own 64.00% of the company’s stock.

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In other news, SVP Anthony T. Skiadas sold 6,967 shares of Verizon Communications stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $49.80, for a total value of $346,956.60. Following the completion of the transaction, the senior vice president now owns 16,059 shares of the company’s stock, valued at approximately $799,738.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.09% of the company’s stock.

A number of equities research analysts recently commented on VZ shares. Nomura upgraded shares of Verizon Communications from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $47.00 to $61.00 in a report on Tuesday, December 12th. Vetr upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $54.80 price objective on the stock in a report on Monday, February 5th. KeyCorp raised their price objective on shares of Verizon Communications from $50.00 to $53.00 and gave the stock a “sector weight” rating in a report on Tuesday, January 2nd. Moffett Nathanson upgraded shares of Verizon Communications from a “neutral” rating to a “buy” rating in a report on Wednesday, February 28th. Finally, HSBC upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a report on Wednesday. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $54.31.

Verizon Communications stock opened at $47.82 on Friday. The firm has a market capitalization of $197,399.23, a P/E ratio of 12.79, a price-to-earnings-growth ratio of 1.94 and a beta of 0.68. Verizon Communications has a 1-year low of $42.80 and a 1-year high of $54.77. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.54.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Tuesday, January 23rd. The cell phone carrier reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.02). Verizon Communications had a net margin of 23.88% and a return on equity of 48.97%. The firm had revenue of $33.96 billion during the quarter, compared to the consensus estimate of $33.20 billion. During the same period last year, the business earned $0.86 EPS. The business’s revenue was up 2.2% on a year-over-year basis. research analysts anticipate that Verizon Communications will post 4.55 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Tuesday, April 10th will be given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.94%. The ex-dividend date of this dividend is Monday, April 9th. Verizon Communications’s dividend payout ratio (DPR) is presently 63.10%.

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About Verizon Communications

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.

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

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