Sheaff Brock Investment Advisors LLC Reduces Stake in Verizon Communications (VZ)
Sheaff Brock Investment Advisors LLC decreased its stake in shares of Verizon Communications (NYSE:VZ) by 13.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 97,705 shares of the cell phone carrier’s stock after selling 15,267 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in Verizon Communications were worth $5,172,000 as of its most recent filing with the SEC.
Other large investors also recently bought and sold shares of the company. BlackRock Inc. increased its stake in Verizon Communications by 0.8% in the fourth quarter. BlackRock Inc. now owns 265,904,768 shares of the cell phone carrier’s stock valued at $14,074,340,000 after acquiring an additional 2,236,290 shares during the period. Bank of New York Mellon Corp increased its stake in Verizon Communications by 14.1% in the fourth quarter. Bank of New York Mellon Corp now owns 48,749,993 shares of the cell phone carrier’s stock valued at $2,580,337,000 after acquiring an additional 6,007,544 shares during the period. Legal & General Group Plc increased its stake in Verizon Communications by 2.7% in the third quarter. Legal & General Group Plc now owns 24,495,234 shares of the cell phone carrier’s stock valued at $1,212,227,000 after acquiring an additional 636,014 shares during the period. Schwab Charles Investment Management Inc. increased its stake in Verizon Communications by 6.2% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 21,390,896 shares of the cell phone carrier’s stock valued at $1,132,221,000 after acquiring an additional 1,250,691 shares during the period. Finally, Nordea Investment Management AB increased its stake in Verizon Communications by 1.8% in the third quarter. Nordea Investment Management AB now owns 20,021,107 shares of the cell phone carrier’s stock valued at $990,845,000 after acquiring an additional 346,725 shares during the period. Institutional investors own 64.10% of the company’s stock.
In other news, SVP Anthony T. Skiadas sold 1,974 shares of the company’s stock in a transaction that occurred on Tuesday, May 1st. The shares were sold at an average price of $49.44, for a total transaction of $97,594.56. Following the transaction, the senior vice president now directly owns 16,060 shares in the company, valued at $794,006.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.09% of the stock is currently owned by corporate insiders.
Shares of Verizon Communications opened at $47.85 on Friday, MarketBeat Ratings reports. The company has a current ratio of 0.98, a quick ratio of 0.94 and a debt-to-equity ratio of 2.15. The stock has a market cap of $197.28 billion, a price-to-earnings ratio of 12.79, a PEG ratio of 1.91 and a beta of 0.62. Verizon Communications has a 1-year low of $47.65 and a 1-year high of $48.02.
Verizon Communications (NYSE:VZ) last announced its earnings results on Tuesday, April 24th. The cell phone carrier reported $1.17 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.06. Verizon Communications had a net margin of 24.37% and a return on equity of 42.62%. The company had revenue of $31.77 billion for the quarter, compared to analyst estimates of $31.25 billion. During the same period in the prior year, the business earned $0.95 earnings per share. Verizon Communications’s quarterly revenue was up 6.6% on a year-over-year basis. equities analysts anticipate that Verizon Communications will post 4.57 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, May 1st. Stockholders of record on Tuesday, April 10th were given a dividend of $0.59 per share. The ex-dividend date was Monday, April 9th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.93%. Verizon Communications’s payout ratio is 63.10%.
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; 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.
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