Core Alternative Capital grew its stake in Verizon Communications Inc. (NYSE:VZ – Get Rating) by 3.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,615 shares of the cell phone carrier’s stock after purchasing an additional 555 shares during the period. Core Alternative Capital’s holdings in Verizon Communications were worth $863,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Fisher Asset Management LLC boosted its position in shares of Verizon Communications by 19,095.1% during the 4th quarter. Fisher Asset Management LLC now owns 9,778,922 shares of the cell phone carrier’s stock valued at $508,113,000 after acquiring an additional 9,727,977 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Verizon Communications during the 4th quarter valued at about $194,012,000. Dimensional Fund Advisors LP boosted its position in shares of Verizon Communications by 14.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 28,703,731 shares of the cell phone carrier’s stock valued at $1,550,430,000 after acquiring an additional 3,724,345 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of Verizon Communications by 26.6% during the 4th quarter. Nordea Investment Management AB now owns 13,716,118 shares of the cell phone carrier’s stock valued at $716,393,000 after acquiring an additional 2,879,026 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Verizon Communications by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 71,398,161 shares of the cell phone carrier’s stock valued at $3,846,039,000 after acquiring an additional 2,030,344 shares in the last quarter. Institutional investors own 63.78% of the company’s stock.
In other Verizon Communications news, EVP Craig L. Silliman sold 1,558 shares of the company’s stock in a transaction that occurred on Thursday, March 3rd. The shares were sold at an average price of $54.48, for a total value of $84,879.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Tami A. Erwin sold 23,647 shares of the company’s stock in a transaction that occurred on Tuesday, April 26th. The shares were sold at an average price of $49.77, for a total transaction of $1,176,911.19. Following the completion of the sale, the chief executive officer now directly owns 21,817 shares of the company’s stock, valued at approximately $1,085,832.09. The disclosure for this sale can be found here. Insiders sold 26,763 shares of company stock valued at $1,342,807 in the last ninety days. Insiders own 0.02% of the company’s stock.
Shares of VZ traded down $0.03 on Tuesday, reaching $49.01. 747,991 shares of the company’s stock were exchanged, compared to its average volume of 27,556,540. The company has a current ratio of 0.76, a quick ratio of 0.69 and a debt-to-equity ratio of 1.64. The stock has a market capitalization of $205.82 billion, a P/E ratio of 9.52, a price-to-earnings-growth ratio of 2.48 and a beta of 0.42. The business has a 50 day moving average price of $51.13 and a two-hundred day moving average price of $52.11. Verizon Communications Inc. has a 12 month low of $45.55 and a 12 month high of $59.07.
Verizon Communications (NYSE:VZ – Get Rating) last posted its quarterly earnings results on Friday, April 22nd. The cell phone carrier reported $1.35 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.35. The business had revenue of $33.60 billion during the quarter, compared to the consensus estimate of $33.61 billion. Verizon Communications had a net margin of 15.93% and a return on equity of 28.15%. Verizon Communications’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.31 earnings per share. Equities research analysts predict that Verizon Communications Inc. will post 5.4 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, May 2nd. Shareholders of record on Friday, April 8th were paid a $0.64 dividend. This represents a $2.56 annualized dividend and a yield of 5.22%. The ex-dividend date of this dividend was Thursday, April 7th. Verizon Communications’s payout ratio is presently 49.71%.
Verizon Communications Company Profile (Get Rating)
Verizon Communications Inc, through its subsidiaries, offers communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. Its Consumer segment provides postpaid and prepaid service plans; internet access on notebook computers and tablets; wireless equipment, including smartphones and other handsets; and wireless-enabled internet devices, such as tablets, and other wireless-enabled connected devices comprising smart watches.
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