Xponance Inc. Purchases 120,504 Shares of Verizon Communications Inc. (NYSE:VZ)



Xponance Inc. boosted its stake in Verizon Communications Inc. (NYSE:VZ – Get Rating) by 31.9% during the 1st quarter, HoldingsChannel.com reports. The fund owned 497,932 shares of the cell phone carrier’s stock after purchasing an additional 120,504 during the quarter. Xponance Inc.’s holdings in Verizon Communications were worth $25,365,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Stonnington Group LLC lifted its position in Verizon Communications by 445.4% during the fourth quarter. Stonnington Group LLC now owns 45,885 shares of the cell phone carrier’s stock valued at $2,459,000 after buying an additional 37,472 shares during the period. Wealth Alliance Advisory Group LLC lifted its position in Verizon Communications by 2.8% during the fourth quarter. Wealth Alliance Advisory Group LLC now owns 29,990 shares of the cell phone carrier’s stock valued at $1,558,000 after buying an additional 804 shares during the period. BlueSky Wealth Advisors LLC purchased a new position in Verizon Communications during the fourth quarter valued at $769,000. Centennial Wealth Advisory LLC purchased a new position in Verizon Communications during the fourth quarter valued at $209,000. Finally, McGuire Investment Group LLC lifted its position in Verizon Communications by 9.1% during the fourth quarter. McGuire Investment Group LLC now owns 6,300 shares of the cell phone carrier’s stock valued at $327,000 after buying an additional 523 shares during the period. Institutional investors and hedge funds 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 Monday, May 23rd. The stock was sold at an average price of $50.00, for a total value of $77,900.00. Following the completion of the transaction, the executive vice president now directly owns 36,519 shares in the company, valued at approximately $1,825,950. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Tami A. Erwin sold 23,647 shares of the company’s stock in a transaction that occurred on Tuesday, April 26th. The stock was sold at an average price of $49.77, for a total value of $1,176,911.19. Following the completion of the transaction, the chief executive officer now owns 21,817 shares of the company’s stock, valued at $1,085,832.09. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,321 shares of company stock valued at $1,415,192. 0.02% of the stock is currently owned by corporate insiders.

Verizon Communications stock opened at $51.64 on Friday. The business has a 50-day simple moving average of $49.75 and a two-hundred day simple moving average of $51.86. The company has a market cap of $216.87 billion, a P/E ratio of 10.03, a P/E/G ratio of 2.63 and a beta of 0.41. Verizon Communications Inc. has a 52-week low of $45.55 and a 52-week high of $56.85. The company has a quick ratio of 0.69, a current ratio of 0.76 and a debt-to-equity ratio of 1.64.

Verizon Communications (NYSE:VZ – Get Rating) last announced its quarterly earnings data on Friday, April 22nd. The cell phone carrier reported $1.35 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.35. The company had revenue of $33.60 billion during the quarter, compared to the consensus estimate of $33.61 billion. Verizon Communications had a return on equity of 28.15% and a net margin of 15.93%. The firm’s revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.31 EPS. Research analysts anticipate that Verizon Communications Inc. will post 5.39 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 1st. Investors of record on Friday, July 8th will be paid a dividend of $0.64 per share. The ex-dividend date of this dividend is Thursday, July 7th. This represents a $2.56 dividend on an annual basis and a dividend yield of 4.96%. Verizon Communications’s dividend payout ratio (DPR) is presently 49.71%.

Several equities analysts have commented on VZ shares. Credit Suisse Group lowered their objective price on Verizon Communications from $58.00 to $54.00 and set a “neutral” rating for the company in a research report on Tuesday, June 21st. The Goldman Sachs Group lowered Verizon Communications from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $61.00 to $55.00 in a research report on Monday, April 25th. DZ Bank lowered Verizon Communications from a “hold” rating to a “sell” rating and set a $44.00 price target for the company. in a research report on Friday, April 29th. Royal Bank of Canada lowered their price target on Verizon Communications from $57.00 to $54.00 and set a “sector performer” rating for the company in a research report on Wednesday, June 22nd. Finally, JPMorgan Chase & Co. reaffirmed a “hold” rating and issued a $57.00 price target on shares of Verizon Communications in a research report on Friday, June 24th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $57.14.

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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Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)



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