Everett Harris & Co. CA reduced its stake in Verizon Communications Inc. (NYSE:VZ) by 44.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 138,705 shares of the cell phone carrier’s stock after selling 109,588 shares during the quarter. Everett Harris & Co. CA’s holdings in Verizon Communications were worth $6,195,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Ronna Sue Cohen grew its holdings in shares of Verizon Communications by 0.4% during the 2nd quarter. Ronna Sue Cohen now owns 4,832 shares of the cell phone carrier’s stock worth $216,000 after purchasing an additional 19 shares during the period. Oakmont Partners LLC grew its holdings in shares of Verizon Communications by 0.3% during the 2nd quarter. Oakmont Partners LLC now owns 6,391 shares of the cell phone carrier’s stock worth $285,000 after purchasing an additional 22 shares during the period. Conservest Capital Advisors Inc. grew its holdings in shares of Verizon Communications by 0.5% during the 2nd quarter. Conservest Capital Advisors Inc. now owns 5,024 shares of the cell phone carrier’s stock worth $224,000 after purchasing an additional 23 shares during the period. Nottingham Advisors Inc. grew its holdings in shares of Verizon Communications by 0.5% during the 2nd quarter. Nottingham Advisors Inc. now owns 6,425 shares of the cell phone carrier’s stock worth $287,000 after purchasing an additional 35 shares during the period. Finally, Camden National Bank grew its holdings in shares of Verizon Communications by 0.7% during the 2nd quarter. Camden National Bank now owns 4,972 shares of the cell phone carrier’s stock worth $222,000 after purchasing an additional 37 shares during the period. Institutional investors own 62.09% of the company’s stock.
A number of research firms have recently weighed in on VZ. TheStreet upgraded Verizon Communications from a “c+” rating to a “b-” rating in a report on Tuesday, August 8th. Moffett Nathanson reiterated a “buy” rating on shares of Verizon Communications in a report on Thursday, October 12th. Cowen and Company reiterated a “hold” rating and set a $52.00 price target on shares of Verizon Communications in a report on Tuesday, September 19th. KeyCorp reiterated a “hold” rating on shares of Verizon Communications in a report on Wednesday, October 11th. Finally, Royal Bank Of Canada raised their target price on Verizon Communications from $48.00 to $50.00 and gave the company a “sector perform” rating in a report on Monday, July 31st. Two research analysts have rated the stock with a sell rating, twenty have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $52.75.
Shares of Verizon Communications Inc. (VZ) opened at $44.22 on Wednesday. Verizon Communications Inc. has a 1 year low of $42.80 and a 1 year high of $54.83. The company has a debt-to-equity ratio of 4.05, a quick ratio of 1.02 and a current ratio of 1.07. The stock has a market capitalization of $183,085.31, a PE ratio of 11.97, a price-to-earnings-growth ratio of 4.22 and a beta of 0.55.
Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Thursday, October 19th. The cell phone carrier reported $0.98 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.98. Verizon Communications had a return on equity of 58.66% and a net margin of 12.80%. The firm had revenue of $31.70 billion during the quarter, compared to the consensus estimate of $31.45 billion. During the same quarter in the previous year, the business earned $1.01 earnings per share. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. equities research analysts forecast that Verizon Communications Inc. will post 3.77 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th were given a $0.59 dividend. This is an increase from Verizon Communications’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Friday, October 6th. This represents a $2.36 annualized dividend and a dividend yield of 5.34%. Verizon Communications’s dividend payout ratio is presently 60.51%.
In other news, EVP Craig L. Silliman sold 610 shares of the company’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $48.65, for a total value of $29,676.50. Following the completion of the sale, the executive vice president now owns 7,209 shares of the company’s stock, valued at $350,717.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 1,830 shares of company stock valued at $89,365 in the last ninety days. Company insiders own 0.13% of the company’s stock.
Verizon Communications Profile
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.
Want to see what other hedge funds are holding VZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Verizon Communications Inc. (NYSE:VZ).
Receive News & Ratings for Verizon Communications Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verizon Communications Inc. and related companies with MarketBeat.com's FREE daily email newsletter.