Verizon Communications Inc. (VZ) Stake Lessened by Nisa Investment Advisors LLC
Nisa Investment Advisors LLC trimmed its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 4.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,333,194 shares of the cell phone carrier’s stock after selling 63,953 shares during the period. Verizon Communications comprises approximately 0.8% of Nisa Investment Advisors LLC’s investment portfolio, making the stock its 21st biggest position. Nisa Investment Advisors LLC’s holdings in Verizon Communications were worth $74,952,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Successful Portfolios LLC lifted its position in shares of Verizon Communications by 1.5% in the 4th quarter. Successful Portfolios LLC now owns 13,512 shares of the cell phone carrier’s stock valued at $760,000 after acquiring an additional 200 shares in the last quarter. CKW Financial Group lifted its position in shares of Verizon Communications by 2.7% in the 4th quarter. CKW Financial Group now owns 7,637 shares of the cell phone carrier’s stock valued at $429,000 after acquiring an additional 200 shares in the last quarter. Farmers Trust Co. lifted its position in Verizon Communications by 0.7% in the 4th quarter. Farmers Trust Co. now owns 33,212 shares of the cell phone carrier’s stock worth $1,867,000 after buying an additional 217 shares in the last quarter. Bogart Wealth LLC lifted its position in Verizon Communications by 0.6% in the 4th quarter. Bogart Wealth LLC now owns 42,616 shares of the cell phone carrier’s stock worth $2,395,000 after buying an additional 249 shares in the last quarter. Finally, Advocacy Wealth Management Services LLC lifted its position in Verizon Communications by 25.9% in the 4th quarter. Advocacy Wealth Management Services LLC now owns 1,265 shares of the cell phone carrier’s stock worth $71,000 after buying an additional 260 shares in the last quarter. Hedge funds and other institutional investors own 66.90% of the company’s stock.
A number of research firms have issued reports on VZ. ValuEngine downgraded shares of Verizon Communications from a “buy” rating to a “hold” rating in a research report on Tuesday, January 29th. Zacks Investment Research upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research report on Saturday, January 26th. Tigress Financial reiterated a “hold” rating on shares of Verizon Communications in a research report on Friday, December 28th. Finally, Morgan Stanley downgraded shares of Verizon Communications from an “overweight” rating to an “equal weight” rating and set a $58.00 target price for the company. in a research report on Wednesday, December 12th. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $56.07.
Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Tuesday, January 29th. The cell phone carrier reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.03. The business had revenue of $34.28 billion for the quarter, compared to the consensus estimate of $34.45 billion. Verizon Communications had a net margin of 11.87% and a return on equity of 35.96%. Verizon Communications’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.86 EPS. On average, research analysts expect that Verizon Communications Inc. will post 4.66 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be issued a dividend of $0.6025 per share. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $2.41 dividend on an annualized basis and a dividend yield of 4.11%. Verizon Communications’s dividend payout ratio is currently 51.17%.
In other news, Director Lowell C. Mcadam sold 285,988 shares of the firm’s stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $56.72, for a total transaction of $16,221,239.36. Following the transaction, the director now owns 362,932 shares in the company, valued at approximately $20,585,503.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Craig L. Silliman sold 1,349 shares of the firm’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $60.30, for a total transaction of $81,344.70. Following the transaction, the executive vice president now owns 29,426 shares in the company, valued at approximately $1,774,387.80. The disclosure for this sale can be found here. Insiders have sold a total of 288,686 shares of company stock worth $16,379,639 in the last 90 days. 0.03% of the stock is owned by insiders.
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About Verizon Communications
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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