Physicians Financial Services Inc. Has $1.47 Million Position in Verizon Communications Inc. (NYSE:VZ)
Physicians Financial Services Inc. raised its position in Verizon Communications Inc. (NYSE:VZ) by 3.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,042 shares of the cell phone carrier’s stock after buying an additional 890 shares during the period. Verizon Communications accounts for about 1.3% of Physicians Financial Services Inc.’s portfolio, making the stock its 27th largest position. Physicians Financial Services Inc.’s holdings in Verizon Communications were worth $1,465,000 as of its most recent filing with the SEC.
A number of other hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in Verizon Communications during the fourth quarter worth $1,712,958,000. FMR LLC raised its stake in Verizon Communications by 17.9% in the fourth quarter. FMR LLC now owns 48,743,437 shares of the cell phone carrier’s stock worth $2,601,925,000 after buying an additional 7,388,078 shares during the last quarter. Asset Management One Co. Ltd. raised its stake in Verizon Communications by 1,244.2% in the fourth quarter. Asset Management One Co. Ltd. now owns 7,366,887 shares of the cell phone carrier’s stock worth $393,444,000 after buying an additional 6,818,838 shares during the last quarter. FIL Ltd raised its stake in Verizon Communications by 29.5% in the fourth quarter. FIL Ltd now owns 12,144,029 shares of the cell phone carrier’s stock worth $648,248,000 after buying an additional 2,764,437 shares during the last quarter. Finally, I.G. Investment Management LTD. raised its stake in Verizon Communications by 65.9% in the fourth quarter. I.G. Investment Management LTD. now owns 5,237,863 shares of the cell phone carrier’s stock worth $279,597,000 after buying an additional 2,080,548 shares during the last quarter. Institutional investors and hedge funds own 62.55% of the company’s stock.
Shares of Verizon Communications Inc. (NYSE:VZ) opened at 43.36 on Wednesday. Verizon Communications Inc. has a 12-month low of $42.80 and a 12-month high of $56.25. The firm has a market cap of $176.88 billion, a P/E ratio of 14.50 and a beta of 0.54. The company’s 50 day moving average price is $45.84 and its 200-day moving average price is $48.85.
Verizon Communications (NYSE:VZ) last announced its earnings results on Thursday, April 20th. The cell phone carrier reported $0.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.98 by $0.03. The firm had revenue of $29.81 billion during the quarter, compared to analyst estimates of $30.41 billion. Verizon Communications had a net margin of 11.92% and a return on equity of 60.14%. The firm’s revenue for the quarter was down 7.3% compared to the same quarter last year. During the same period last year, the company earned $1.06 earnings per share. On average, equities research analysts anticipate that Verizon Communications Inc. will post $3.75 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 1st. Investors of record on Monday, July 10th will be given a $0.5775 dividend. The ex-dividend date of this dividend is Thursday, July 6th. This represents a $2.31 dividend on an annualized basis and a dividend yield of 5.33%. Verizon Communications’s dividend payout ratio (DPR) is presently 77.00%.
Several equities analysts have recently commented on VZ shares. Vetr upgraded Verizon Communications from a “hold” rating to a “buy” rating and set a $52.26 price target on the stock in a research note on Monday, March 27th. Zacks Investment Research upgraded Verizon Communications from a “sell” rating to a “hold” rating in a research note on Friday, May 12th. Barclays PLC cut their price target on Verizon Communications from $52.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 13th. TheStreet lowered Verizon Communications from a “b-” rating to a “c” rating in a research note on Thursday, April 27th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $48.00 price target on shares of Verizon Communications in a research note on Sunday, July 9th. One investment analyst has rated the stock with a sell rating, twenty-six have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Verizon Communications presently has a consensus rating of “Hold” and a consensus price target of $53.23.
In other Verizon Communications news, EVP Marni M. Walden sold 16,362 shares of the stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $46.08, for a total transaction of $753,960.96. Following the completion of the sale, the executive vice president now directly owns 11,797 shares of the company’s stock, valued at approximately $543,605.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Craig L. Silliman sold 610 shares of the stock in a transaction that occurred on Thursday, April 27th. The stock was sold at an average price of $47.36, for a total value of $28,889.60. Following the sale, the executive vice president now directly owns 9,649 shares of the company’s stock, valued at $456,976.64. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,192 shares of company stock valued at $837,958. Insiders own 0.13% of the company’s stock.
Verizon Communications Company Profile
Verizon Communications Inc is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. Its segments include Wireless and Wireline. The Wireless segment offers communications products and services, including wireless voice and data services and equipment sales, to consumer, business and government customers across the United States.
Want to see what other hedge funds are holding VZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Verizon Communications Inc. (NYSE:VZ).
Receive News & Ratings for Verizon Communications Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verizon Communications Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.