Security National Bank of Sioux City Iowa IA lifted its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 3.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 32,047 shares of the cell phone carrier’s stock after purchasing an additional 1,091 shares during the quarter. Verizon Communications accounts for about 1.5% of Security National Bank of Sioux City Iowa IA’s holdings, making the stock its 18th largest position. Security National Bank of Sioux City Iowa IA’s holdings in Verizon Communications were worth $1,562,000 as of its most recent filing with the SEC.
Other large investors also recently added to or reduced their stakes in the company. Excalibur Management Corp raised its stake in shares of Verizon Communications by 5.7% during the 1st quarter. Excalibur Management Corp now owns 123,976 shares of the cell phone carrier’s stock valued at $6,044,000 after purchasing an additional 6,723 shares during the period. Beutel Goodman & Co Ltd. raised its stake in shares of Verizon Communications by 6.8% during the 1st quarter. Beutel Goodman & Co Ltd. now owns 4,358,480 shares of the cell phone carrier’s stock valued at $179,129,000 after purchasing an additional 277,129 shares during the period. Edge Wealth Management LLC raised its stake in shares of Verizon Communications by 1.4% during the 1st quarter. Edge Wealth Management LLC now owns 283,113 shares of the cell phone carrier’s stock valued at $13,824,000 after purchasing an additional 3,887 shares during the period. Allegis Investment Advisors LLC raised its stake in shares of Verizon Communications by 9.0% during the 1st quarter. Allegis Investment Advisors LLC now owns 59,067 shares of the cell phone carrier’s stock valued at $2,880,000 after purchasing an additional 4,898 shares during the period. Finally, Cascade Investment Advisors Inc. raised its stake in shares of Verizon Communications by 0.4% during the 1st quarter. Cascade Investment Advisors Inc. now owns 33,945 shares of the cell phone carrier’s stock valued at $1,655,000 after purchasing an additional 125 shares during the period. Institutional investors own 62.33% of the company’s stock.
Verizon Communications Inc. (NYSE VZ) traded up 1.17% during midday trading on Tuesday, reaching $46.84. The company’s stock had a trading volume of 5,123,695 shares. Verizon Communications Inc. has a 12-month low of $42.80 and a 12-month high of $54.83. The firm has a market cap of $191.08 billion, a price-to-earnings ratio of 12.04 and a beta of 0.57. The company’s 50-day moving average is $47.75 and its 200 day moving average is $47.16.
Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Thursday, July 27th. The cell phone carrier reported $0.96 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.96. Verizon Communications had a return on equity of 63.06% and a net margin of 12.88%. The company had revenue of $30.55 billion for the quarter, compared to analysts’ expectations of $29.84 billion. During the same period in the previous year, the firm posted $0.94 earnings per share. The firm’s revenue for the quarter was up .1% on a year-over-year basis. Equities analysts forecast that Verizon Communications Inc. will post $3.78 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th will be paid a dividend of $0.59 per share. This is a boost from Verizon Communications’s previous quarterly dividend of $0.58. This represents a $2.36 annualized dividend and a yield of 5.10%. The ex-dividend date of this dividend is Friday, October 6th. Verizon Communications’s payout ratio is presently 59.23%.
In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of the business’s stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $47.74, for a total transaction of $29,121.40. Following the sale, the executive vice president now directly owns 7,819 shares of the company’s stock, valued at $373,279.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 1,830 shares of company stock worth $86,248 over the last three months. 0.13% of the stock is currently owned by insiders.
A number of research firms recently issued reports on VZ. BidaskClub upgraded Verizon Communications from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. TheStreet upgraded Verizon Communications from a “c+” rating to a “b-” rating in a research note on Tuesday, August 8th. Royal Bank Of Canada boosted their price objective on Verizon Communications from $48.00 to $50.00 and gave the company a “sector perform” rating in a research note on Monday, July 31st. Cowen and Company restated a “hold” rating and issued a $52.00 target price on shares of Verizon Communications in a research note on Friday, July 28th. Finally, Bank of America Corporation restated a “buy” rating on shares of Verizon Communications in a research note on Saturday, June 17th. Two research analysts have rated the stock with a sell rating, twenty-two have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $52.73.
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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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