Verizon Communications Inc. (VZ) Shares Bought by Bowling Portfolio Management LLC
Bowling Portfolio Management LLC lifted its position in Verizon Communications Inc. (NYSE:VZ) by 198.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 70,006 shares of the cell phone carrier’s stock after purchasing an additional 46,556 shares during the quarter. Bowling Portfolio Management LLC’s holdings in Verizon Communications were worth $3,705,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. Vantage Financial Partners Ltd. Inc. purchased a new position in Verizon Communications in the second quarter worth $623,000. Shine Investment Advisory Services Inc. grew its position in Verizon Communications by 190.9% in 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 in the last quarter. Legacy Advisors LLC purchased a new position in Verizon Communications in the third quarter worth $132,000. Mountain Capital Investment Advisors Inc purchased a new position in Verizon Communications in the second quarter worth $156,000. Finally, Regal Wealth Group Inc. grew its position in Verizon Communications by 0.7% in 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 in the last quarter. 63.98% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Verizon Communications stock opened at $47.28 on Thursday. The company has a debt-to-equity ratio of 2.54, a quick ratio of 0.87 and a current ratio of 0.91. Verizon Communications Inc. has a 1 year low of $42.80 and a 1 year high of $54.77. The stock has a market cap of $199,421.94, a PE ratio of 6.42, a price-to-earnings-growth ratio of 1.96 and a beta of 0.68.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Tuesday, April 10th will be issued a dividend of $0.59 per share. The ex-dividend date of this dividend is Monday, April 9th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.99%. Verizon Communications’s dividend payout ratio is currently 32.07%.
Several research analysts recently issued reports on VZ shares. Nomura upgraded shares of Verizon Communications from a “neutral” rating to a “buy” rating and upped their target price for the stock from $47.00 to $61.00 in a research report on Tuesday, December 12th. Vetr upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $54.80 target price for the company in a research report on Monday, February 5th. KeyCorp upped their target price on shares of Verizon Communications from $50.00 to $53.00 and gave the stock a “sector weight” rating in a research report on Tuesday, January 2nd. Moffett Nathanson upgraded shares of Verizon Communications from a “neutral” rating to a “buy” rating in a research report on Wednesday, February 28th. Finally, ValuEngine upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $53.66.
In other news, SVP Anthony T. Skiadas sold 6,967 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $49.80, for a total transaction of $346,956.60. Following the completion of the sale, the senior vice president now directly owns 16,059 shares in the company, valued at $799,738.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.13% of the company’s stock.
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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.
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