Cantor Fitzgerald Investment Advisors L.P. Takes $13.27 Million Position in Verizon Communications Inc. (NYSE:VZ)

Cantor Fitzgerald Investment Advisors L.P. acquired a new stake in shares of Verizon Communications Inc. (NYSE:VZFree Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 352,103 shares of the cell phone carrier’s stock, valued at approximately $13,274,000.

A number of other large investors also recently made changes to their positions in the company. Cape Investment Advisory Inc. lifted its position in shares of Verizon Communications by 11.2% during the fourth quarter. Cape Investment Advisory Inc. now owns 15,725 shares of the cell phone carrier’s stock valued at $593,000 after purchasing an additional 1,580 shares in the last quarter. Act Two Investors LLC lifted its position in shares of Verizon Communications by 2,815.2% during the fourth quarter. Act Two Investors LLC now owns 249,042 shares of the cell phone carrier’s stock valued at $9,389,000 after purchasing an additional 240,499 shares in the last quarter. Skopos Labs Inc. bought a new stake in Verizon Communications in the fourth quarter worth about $568,000. Congress Wealth Management LLC DE raised its position in Verizon Communications by 167.1% in the fourth quarter. Congress Wealth Management LLC DE now owns 33,766 shares of the cell phone carrier’s stock worth $1,273,000 after acquiring an additional 21,125 shares during the period. Finally, HCR Wealth Advisors raised its position in Verizon Communications by 8.0% in the fourth quarter. HCR Wealth Advisors now owns 9,504 shares of the cell phone carrier’s stock worth $358,000 after acquiring an additional 706 shares during the period. 62.06% of the stock is owned by institutional investors.

Verizon Communications Price Performance

NYSE:VZ traded up $0.31 during mid-day trading on Friday, hitting $39.74. 10,419,992 shares of the stock traded hands, compared to its average volume of 15,358,114. The business’s 50-day moving average price is $40.31 and its 200 day moving average price is $39.49. The company has a market cap of $167.28 billion, a PE ratio of 14.83, a price-to-earnings-growth ratio of 2.88 and a beta of 0.42. Verizon Communications Inc. has a 12-month low of $30.14 and a 12-month high of $43.42. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 1.42.

Verizon Communications (NYSE:VZGet Free Report) last issued its quarterly earnings data on Monday, April 22nd. The cell phone carrier reported $1.15 EPS for the quarter, beating the consensus estimate of $1.12 by $0.03. The company had revenue of $33 billion during the quarter, compared to analysts’ expectations of $33.23 billion. Verizon Communications had a net margin of 8.44% and a return on equity of 20.41%. Verizon Communications’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.20 earnings per share. On average, analysts expect that Verizon Communications Inc. will post 4.6 EPS for the current fiscal year.

Verizon Communications Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th were paid a $0.665 dividend. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $2.66 dividend on an annualized basis and a yield of 6.69%. Verizon Communications’s dividend payout ratio is presently 99.25%.

Analyst Ratings Changes

Several brokerages have commented on VZ. Citigroup lifted their price objective on shares of Verizon Communications from $45.00 to $47.00 and gave the stock a “buy” rating in a research report on Tuesday, January 30th. Royal Bank of Canada lifted their price objective on shares of Verizon Communications from $36.00 to $40.00 and gave the stock a “sector perform” rating in a research report on Tuesday, April 2nd. Wells Fargo & Company lowered their price objective on shares of Verizon Communications from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 23rd. Tigress Financial lifted their price objective on shares of Verizon Communications from $50.00 to $52.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $48.00 price objective on shares of Verizon Communications in a research report on Tuesday, April 23rd. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Verizon Communications presently has a consensus rating of “Moderate Buy” and an average target price of $44.36.

Check Out Our Latest Stock Analysis on Verizon Communications

Verizon Communications Company Profile

(Free Report)

Verizon Communications Inc, through its subsidiaries, engages in the provision of communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. It operates in two segments, Verizon Consumer Group (Consumer) and Verizon Business Group (Business).

See Also

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

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