Alpha Cubed Investments LLC Has $14.84 Million Position in Verizon Communications Inc. (VZ)
Alpha Cubed Investments LLC lifted its position in Verizon Communications Inc. (NYSE:VZ) by 10.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 299,909 shares of the cell phone carrier’s stock after buying an additional 29,008 shares during the quarter. Verizon Communications comprises approximately 2.2% of Alpha Cubed Investments LLC’s holdings, making the stock its 17th biggest position. Alpha Cubed Investments LLC’s holdings in Verizon Communications were worth $14,842,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. Vantage Financial Partners Ltd. Inc. bought a new position in Verizon Communications during the second quarter worth $623,000. Mountain Capital Investment Advisors Inc bought a new position in Verizon Communications during the second quarter worth $156,000. Regal Wealth Group Inc. boosted its position in Verizon Communications by 0.7% during the second quarter. Regal Wealth Group Inc. now owns 3,682 shares of the cell phone carrier’s stock worth $164,000 after purchasing an additional 24 shares during the period. Camarda Financial Advisors LLC boosted its position in Verizon Communications by 11.3% during the second quarter. Camarda Financial Advisors LLC now owns 3,749 shares of the cell phone carrier’s stock worth $167,000 after purchasing an additional 382 shares during the period. Finally, M. Kraus & Co bought a new position in Verizon Communications during the third quarter worth $201,000. 63.23% of the stock is owned by institutional investors and hedge funds.
A number of research firms have commented on VZ. HSBC cut shares of Verizon Communications from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $54.83 to $42.80 in a research report on Thursday, December 14th. They noted that the move was a valuation call. Instinet lifted their price objective on shares of Verizon Communications from $47.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, December 12th. Nomura raised shares of Verizon Communications from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $47.00 to $61.00 in a research report on Tuesday, December 12th. ValuEngine raised shares of Verizon Communications from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $49.00 price objective on shares of Verizon Communications in a research report on Wednesday, October 4th. Two equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $51.99.
In related news, EVP Craig L. Silliman sold 610 shares of the business’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $47.41, for a total value of $28,920.10. Following the completion of the transaction, the executive vice president now owns 3,269 shares of the company’s stock, valued at $154,983.29. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders sold 1,830 shares of company stock valued at $88,609. 0.13% of the stock is owned by insiders.
Shares of Verizon Communications Inc. (NYSE VZ) opened at $53.19 on Monday. Verizon Communications Inc. has a twelve month low of $42.80 and a twelve month high of $54.83. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 4.05. The firm has a market capitalization of $216,990.00, a price-to-earnings ratio of 13.64, a PEG ratio of 4.98 and a beta of 0.57.
Verizon Communications (NYSE:VZ) last posted its earnings results on Thursday, October 19th. The cell phone carrier reported $0.98 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.98. The company had revenue of $31.70 billion during the quarter, compared to the consensus estimate of $31.45 billion. Verizon Communications had a return on equity of 55.81% and a net margin of 11.78%. The company’s revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.01 earnings per share. research analysts forecast that Verizon Communications Inc. will post 3.77 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Wednesday, January 10th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 4.44%. The ex-dividend date of this dividend is Tuesday, January 9th. Verizon Communications’s dividend payout ratio (DPR) is presently 60.51%.
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About Verizon Communications
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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