Campbell Capital Management Inc. Takes Position in Verizon Communications Inc. (NYSE:VZ)

Campbell Capital Management Inc. bought a new stake in Verizon Communications Inc. (NYSE:VZ) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 105,790 shares of the cell phone carrier’s stock, valued at approximately $6,152,000. Verizon Communications comprises approximately 2.8% of Campbell Capital Management Inc.’s holdings, making the stock its 14th largest holding.

Other large investors have also made changes to their positions in the company. Klaas Financial Asset Advisors LLC purchased a new position in Verizon Communications during the fourth quarter worth about $26,000. New Capital Management LP raised its holdings in Verizon Communications by 60.3% during the fourth quarter. New Capital Management LP now owns 481 shares of the cell phone carrier’s stock worth $28,000 after purchasing an additional 181 shares in the last quarter. Capital Directions Investment Advisors LLC raised its holdings in Verizon Communications by 100.0% during the fourth quarter. Capital Directions Investment Advisors LLC now owns 600 shares of the cell phone carrier’s stock worth $36,000 after purchasing an additional 300 shares in the last quarter. Curi Capital purchased a new position in Verizon Communications during the fourth quarter worth about $40,000. Finally, Alpha DNA Investment Management LLC purchased a new position in Verizon Communications during the fourth quarter worth about $40,000. 64.85% of the stock is owned by institutional investors and hedge funds.

Shares of VZ stock traded down $1.32 during trading hours on Thursday, hitting $57.68. The company’s stock had a trading volume of 309,622 shares, compared to its average volume of 20,359,465. The business has a fifty day moving average of $56.65 and a 200-day moving average of $58.04. The stock has a market cap of $238.80 billion, a price-to-earnings ratio of 12.80, a P/E/G ratio of 3.54 and a beta of 0.44. Verizon Communications Inc. has a twelve month low of $52.85 and a twelve month high of $61.95. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 1.66.

Verizon Communications (NYSE:VZ) last announced its earnings results on Monday, January 25th. The cell phone carrier reported $1.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.17 by $0.04. Verizon Communications had a net margin of 14.76% and a return on equity of 32.15%. The firm had revenue of $34.70 billion for the quarter, compared to analyst estimates of $34.47 billion. During the same quarter last year, the business earned $1.13 earnings per share. Verizon Communications’s revenue was down .2% compared to the same quarter last year. On average, equities analysts expect that Verizon Communications Inc. will post 4.77 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, May 3rd. Shareholders of record on Friday, April 9th will be paid a dividend of $0.6275 per share. This represents a $2.51 dividend on an annualized basis and a yield of 4.35%. The ex-dividend date is Thursday, April 8th. Verizon Communications’s dividend payout ratio is currently 52.18%.

Several research analysts recently issued reports on VZ shares. Bank of America reissued a “buy” rating and set a $64.00 price target on shares of Verizon Communications in a report on Thursday, March 11th. Tigress Financial raised shares of Verizon Communications from a “neutral” rating to a “buy” rating in a report on Tuesday, March 30th. Credit Suisse Group lowered their target price on shares of Verizon Communications from $61.00 to $59.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 19th. Scotiabank lowered shares of Verizon Communications from an “outperform” rating to a “sector perform” rating in a research report on Thursday, February 25th. Finally, Oppenheimer restated a “market perform” rating on shares of Verizon Communications in a research report on Wednesday, March 3rd. Eleven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $62.06.

In other Verizon Communications news, EVP Craig L. Silliman sold 1,555 shares of the stock in a transaction that occurred on Monday, April 5th. The shares were sold at an average price of $58.53, for a total transaction of $91,014.15. Following the transaction, the executive vice president now owns 36,242 shares of the company’s stock, valued at $2,121,244.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.07% of the company’s stock.

Verizon Communications Profile

Verizon Communications Inc 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, such as smart watches.

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

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