Gillespie Robinson & Grimm Inc. cut its position in shares of Verizon Communications Inc. (NYSE:VZ) by 3.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,133 shares of the cell phone carrier’s stock after selling 790 shares during the quarter. Gillespie Robinson & Grimm Inc.’s holdings in Verizon Communications were worth $1,236,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in shares of Verizon Communications in the second quarter valued at about $28,000. Lenox Wealth Advisors LLC acquired a new stake in shares of Verizon Communications in the third quarter valued at about $39,000. Advocacy Wealth Management Services LLC grew its stake in shares of Verizon Communications by 35.8% in the third quarter. Advocacy Wealth Management Services LLC now owns 687 shares of the cell phone carrier’s stock valued at $41,000 after buying an additional 181 shares in the last quarter. Fulcrum Equity Management acquired a new stake in shares of Verizon Communications in the third quarter valued at about $48,000. Finally, WealthStone Inc. acquired a new stake in shares of Verizon Communications in the second quarter valued at about $45,000. Institutional investors own 65.25% of the company’s stock.
Shares of VZ stock opened at $59.10 on Thursday. Verizon Communications Inc. has a 1 year low of $52.28 and a 1 year high of $62.22. The stock has a market cap of $243.97 billion, a PE ratio of 12.55, a price-to-earnings-growth ratio of 3.71 and a beta of 0.51. The business’s fifty day moving average is $60.64 and its 200-day moving average is $59.01. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.85 and a current ratio of 0.89.
The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be given a dividend of $0.615 per share. This represents a $2.46 annualized dividend and a dividend yield of 4.16%. The ex-dividend date of this dividend is Thursday, January 9th. Verizon Communications’s dividend payout ratio (DPR) is presently 52.23%.
VZ has been the subject of a number of recent research reports. Zacks Investment Research lowered Verizon Communications from a “buy” rating to a “hold” rating and set a $62.00 target price for the company. in a research note on Saturday, January 11th. Guggenheim increased their target price on Verizon Communications from $65.00 to $69.00 and gave the company a “buy” rating in a research note on Monday, October 28th. HSBC lowered Verizon Communications from a “buy” rating to a “hold” rating and set a $65.00 target price for the company. in a research note on Thursday, November 14th. Moffett Nathanson set a $57.00 target price on Verizon Communications and gave the company a “hold” rating in a research note on Friday, October 25th. Finally, New Street Research reiterated a “buy” rating on shares of Verizon Communications in a research note on Friday, January 10th. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Verizon Communications currently has an average rating of “Hold” and an average target price of $63.44.
In related news, EVP Craig L. Silliman sold 1,349 shares of Verizon Communications stock in a transaction on Monday, October 28th. The stock was sold at an average price of $60.42, for a total value of $81,506.58. Following the transaction, the executive vice president now directly owns 19,983 shares in the company, valued at approximately $1,207,372.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Craig L. Silliman sold 1,346 shares of Verizon Communications stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $59.55, for a total value of $80,154.30. Following the completion of the transaction, the executive vice president now owns 18,637 shares in the company, valued at $1,109,833.35. The disclosure for this sale can be found here. 0.03% of the stock is currently owned by company insiders.
Verizon Communications Profile
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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