Shine Investment Advisory Services Inc. grew its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 190.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,705 shares of the cell phone carrier’s stock after acquiring an additional 1,775 shares during the quarter. Shine Investment Advisory Services Inc.’s holdings in Verizon Communications were worth $134,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of VZ. First American Trust FSB boosted its position in shares of Verizon Communications by 22.4% during the 2nd quarter. First American Trust FSB now owns 6,016 shares of the cell phone carrier’s stock valued at $269,000 after acquiring an additional 1,100 shares during the last quarter. First National Bank of Mount Dora Trust Investment Services boosted its position in shares of Verizon Communications by 41.3% during the 2nd quarter. First National Bank of Mount Dora Trust Investment Services now owns 91,647 shares of the cell phone carrier’s stock valued at $4,093,000 after acquiring an additional 26,806 shares during the last quarter. Xact Kapitalforvaltning AB boosted its position in shares of Verizon Communications by 0.4% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 667,427 shares of the cell phone carrier’s stock valued at $29,807,000 after acquiring an additional 2,374 shares during the last quarter. Boltwood Capital Management boosted its position in shares of Verizon Communications by 1.0% during the 2nd quarter. Boltwood Capital Management now owns 32,520 shares of the cell phone carrier’s stock valued at $1,452,000 after acquiring an additional 331 shares during the last quarter. Finally, Trust Co boosted its position in shares of Verizon Communications by 3.1% during the 1st quarter. Trust Co now owns 77,225 shares of the cell phone carrier’s stock valued at $3,764,000 after acquiring an additional 2,303 shares during the last quarter. Hedge funds and other institutional investors own 63.21% of the company’s stock.
Verizon Communications Inc. (NYSE:VZ) opened at $51.86 on Friday. The company has a debt-to-equity ratio of 4.05, a current ratio of 1.07 and a quick ratio of 1.02. The company has a market capitalization of $211,560.00, a P/E ratio of 13.30, a price-to-earnings-growth ratio of 4.71 and a beta of 0.57. Verizon Communications Inc. has a 12 month low of $42.80 and a 12 month high of $53.69.
Verizon Communications (NYSE:VZ) last announced its quarterly earnings results on Thursday, October 19th. The cell phone carrier reported $0.98 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.98. The business had revenue of $31.70 billion for the quarter, compared to analysts’ expectations of $31.45 billion. Verizon Communications had a return on equity of 58.66% and a net margin of 12.80%. The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.01 EPS. equities analysts predict that Verizon Communications Inc. will post 3.77 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $2.36 dividend on an annualized basis and a yield of 4.55%. Verizon Communications’s dividend payout ratio (DPR) is currently 60.51%.
VZ has been the subject of a number of recent research reports. Macquarie restated a “hold” rating and issued a $52.00 target price on shares of Verizon Communications in a research report on Sunday, October 22nd. SunTrust Banks restated a “hold” rating and issued a $50.00 target price on shares of Verizon Communications in a research report on Friday, October 20th. Moffett Nathanson restated a “buy” rating on shares of Verizon Communications in a research report on Thursday, October 12th. Wells Fargo & Co upgraded Verizon Communications from a “market perform” rating to an “outperform” rating and set a $50.00 target price for the company in a research report on Monday, November 20th. Finally, Instinet boosted their target price on Verizon Communications from $47.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, December 12th. Two investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $51.98.
In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of Verizon Communications stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $48.62, for a total value of $29,658.20. Following the transaction, the executive vice president now directly owns 5,989 shares of the company’s stock, valued at approximately $291,185.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.13% of the stock is owned by insiders.
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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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