Rempart Asset Management Inc. increased its position in Verizon Communications Inc. (NYSE:VZ - Free Report) by 29.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 203,190 shares of the cell phone carrier's stock after acquiring an additional 45,790 shares during the quarter. Verizon Communications comprises about 1.6% of Rempart Asset Management Inc.'s investment portfolio, making the stock its 23rd biggest position. Rempart Asset Management Inc.'s holdings in Verizon Communications were worth $8,126,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fermata Advisors LLC raised its position in Verizon Communications by 4.5% during the 3rd quarter. Fermata Advisors LLC now owns 5,626 shares of the cell phone carrier's stock valued at $253,000 after purchasing an additional 243 shares during the last quarter. Austin Private Wealth LLC increased its stake in shares of Verizon Communications by 3.0% during the third quarter. Austin Private Wealth LLC now owns 8,450 shares of the cell phone carrier's stock valued at $379,000 after buying an additional 243 shares during the period. Semmax Financial Advisors Inc. raised its holdings in shares of Verizon Communications by 0.4% during the second quarter. Semmax Financial Advisors Inc. now owns 54,926 shares of the cell phone carrier's stock valued at $2,240,000 after acquiring an additional 246 shares in the last quarter. Cary Street Partners Asset Management LLC lifted its stake in Verizon Communications by 3.4% in the third quarter. Cary Street Partners Asset Management LLC now owns 7,628 shares of the cell phone carrier's stock worth $343,000 after acquiring an additional 249 shares during the period. Finally, Wynn Capital LLC boosted its holdings in Verizon Communications by 4.4% in the third quarter. Wynn Capital LLC now owns 5,945 shares of the cell phone carrier's stock valued at $267,000 after acquiring an additional 250 shares in the last quarter. Institutional investors and hedge funds own 62.06% of the company's stock.
Verizon Communications Stock Performance
VZ stock traded up $0.04 on Wednesday, hitting $38.96. The company had a trading volume of 22,820,763 shares, compared to its average volume of 23,830,014. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.32. Verizon Communications Inc. has a 12-month low of $37.56 and a 12-month high of $45.36. The stock has a market cap of $164.01 billion, a price-to-earnings ratio of 16.79, a P/E/G ratio of 3.05 and a beta of 0.46. The stock's 50-day simple moving average is $41.47 and its 200 day simple moving average is $41.85.
Verizon Communications (NYSE:VZ - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The cell phone carrier reported $1.19 EPS for the quarter, topping the consensus estimate of $1.18 by $0.01. The company had revenue of $33.30 billion during the quarter, compared to analyst estimates of $33.42 billion. Verizon Communications had a return on equity of 20.05% and a net margin of 7.30%. Verizon Communications's revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.22 earnings per share. As a group, equities research analysts expect that Verizon Communications Inc. will post 4.61 earnings per share for the current fiscal year.
Verizon Communications Cuts Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be given a dividend of $0.6775 per share. The ex-dividend date is Friday, January 10th. This represents a $2.71 annualized dividend and a yield of 6.96%. Verizon Communications's dividend payout ratio (DPR) is 116.81%.
Analyst Ratings Changes
Several equities research analysts have recently commented on VZ shares. Citigroup raised their target price on shares of Verizon Communications from $47.00 to $49.00 and gave the stock a "buy" rating in a research report on Wednesday, September 25th. StockNews.com lowered shares of Verizon Communications from a "strong-buy" rating to a "buy" rating in a report on Monday, December 16th. Sanford C. Bernstein initiated coverage on Verizon Communications in a research report on Tuesday, December 10th. They set a "market perform" rating and a $48.00 price objective on the stock. Raymond James increased their target price on Verizon Communications from $44.00 to $48.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 24th. Finally, Royal Bank of Canada lifted their price target on Verizon Communications from $42.00 to $46.00 and gave the company a "sector perform" rating in a research report on Monday, September 23rd. Ten analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $46.54.
View Our Latest Report on Verizon Communications
About Verizon Communications
(
Free Report)
Verizon Communications Inc, through its subsidiaries, engages in the provision of communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. It operates in two segments, Verizon Consumer Group (Consumer) and Verizon Business Group (Business).
Read More
Before you consider Verizon Communications, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Verizon Communications wasn't on the list.
While Verizon Communications currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Market downturns give many investors pause, and for good reason. Wondering how to offset this risk? Click the link below to learn more about using beta to protect yourself.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.