Motco Increases Stock Holdings in Verizon Communications Inc. (NYSE:VZ)

Motco increased its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 1.8% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 98,709 shares of the cell phone carrier’s stock after acquiring an additional 1,740 shares during the period. Motco’s holdings in Verizon Communications were worth $6,060,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Albert D Mason Inc. increased its holdings in shares of Verizon Communications by 0.7% in the 3rd quarter. Albert D Mason Inc. now owns 23,439 shares of the cell phone carrier’s stock valued at $1,415,000 after acquiring an additional 170 shares during the last quarter. SMH Capital Advisors Inc. raised its holdings in shares of Verizon Communications by 4.6% during the third quarter. SMH Capital Advisors Inc. now owns 3,919 shares of the cell phone carrier’s stock worth $237,000 after purchasing an additional 172 shares during the period. Rikoon Group LLC raised its holdings in shares of Verizon Communications by 0.6% during the fourth quarter. Rikoon Group LLC now owns 31,603 shares of the cell phone carrier’s stock worth $1,940,000 after purchasing an additional 173 shares during the period. CFO4Life Group LLC raised its holdings in shares of Verizon Communications by 2.3% during the fourth quarter. CFO4Life Group LLC now owns 7,655 shares of the cell phone carrier’s stock worth $470,000 after purchasing an additional 173 shares during the period. Finally, Comprehensive Portfolio Management LLC lifted its position in shares of Verizon Communications by 2.1% in the 4th quarter. Comprehensive Portfolio Management LLC now owns 8,361 shares of the cell phone carrier’s stock worth $513,000 after buying an additional 174 shares during the last quarter. 65.20% of the stock is currently owned by hedge funds and other institutional investors.

Verizon Communications stock opened at $58.51 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.84 and a debt-to-equity ratio of 1.90. The firm has a 50-day moving average price of $59.91 and a two-hundred day moving average price of $59.39. The firm has a market capitalization of $241.98 billion, a price-to-earnings ratio of 12.58, a PEG ratio of 3.64 and a beta of 0.51. Verizon Communications Inc. has a 52-week low of $54.26 and a 52-week high of $62.22.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings results on Thursday, January 30th. The cell phone carrier reported $1.13 EPS for the quarter, missing the consensus estimate of $1.15 by ($0.02). Verizon Communications had a net margin of 14.61% and a return on equity of 33.39%. The firm had revenue of $34.78 billion during the quarter, compared to analyst estimates of $34.62 billion. During the same quarter in the previous year, the business posted $1.12 EPS. Verizon Communications’s revenue for the quarter was up 1.4% compared to the same quarter last year. Research analysts expect that Verizon Communications Inc. will post 4.94 earnings per share for the current year.

Verizon Communications announced that its Board of Directors has authorized a stock repurchase plan on Thursday, February 6th that allows the company to buyback 100,000,000 outstanding shares. This buyback authorization allows the cell phone carrier to buy shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 10th were given a dividend of $0.615 per share. The ex-dividend date was Thursday, January 9th. This represents a $2.46 annualized dividend and a dividend yield of 4.20%. Verizon Communications’s dividend payout ratio is presently 51.14%.

In related news, EVP Craig L. Silliman sold 1,346 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $59.55, for a total value of $80,154.30. Following the completion of the transaction, the executive vice president now directly owns 18,637 shares of the company’s stock, valued at approximately $1,109,833.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.03% of the company’s stock.

Several research firms have recently commented on VZ. Moffett Nathanson reaffirmed a “hold” rating and issued a $58.00 price target on shares of Verizon Communications in a report on Thursday, January 30th. HSBC lowered shares of Verizon Communications from a “buy” rating to a “hold” rating and set a $65.00 price objective on the stock. in a research note on Thursday, November 14th. Zacks Investment Research cut shares of Verizon Communications from a “buy” rating to a “hold” rating and set a $62.00 target price on the stock. in a report on Saturday, January 11th. Tigress Financial restated a “hold” rating on shares of Verizon Communications in a research note on Thursday, January 23rd. Finally, Nomura reaffirmed a “hold” rating and set a $65.00 target price on shares of Verizon Communications in a report on Monday, February 3rd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $63.58.

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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