First National Bank of Mount Dora Trust Investment Services grew its stake in Verizon Communications Inc. (NYSE:VZ) by 19.0% during the 1st quarter, HoldingsChannel.com reports. The firm owned 125,756 shares of the cell phone carrier’s stock after buying an additional 20,054 shares during the period. Verizon Communications accounts for about 2.5% of First National Bank of Mount Dora Trust Investment Services’ holdings, making the stock its 6th largest position. First National Bank of Mount Dora Trust Investment Services’ holdings in Verizon Communications were worth $7,313,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in VZ. Klaas Financial Asset Advisors LLC bought a new stake in shares of Verizon Communications in the 4th quarter worth approximately $26,000. New Capital Management LP lifted its position in Verizon Communications by 60.3% in 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 during the period. Capital Directions Investment Advisors LLC boosted its stake 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 buying an additional 300 shares in the last quarter. Curi Capital bought a new stake in Verizon Communications in the 4th quarter valued at $40,000. Finally, Alpha DNA Investment Management LLC acquired a new position in shares of Verizon Communications in the 4th quarter valued at $40,000. 64.85% of the stock is owned by institutional investors and hedge funds.
VZ has been the topic of a number of recent research reports. Credit Suisse Group decreased their price objective on Verizon Communications from $61.00 to $59.00 and set a “neutral” rating on the stock in a report on Tuesday, January 19th. Tigress Financial raised shares of Verizon Communications from a “neutral” rating to a “buy” rating in a report on Tuesday, March 30th. Oppenheimer reaffirmed a “market perform” rating on shares of Verizon Communications in a report on Wednesday, March 3rd. Bank of America reaffirmed a “buy” rating and set a $64.00 price target on shares of Verizon Communications in a report on Thursday, March 11th. Finally, Scotiabank lowered shares of Verizon Communications from an “outperform” rating to a “sector perform” rating in a report on Thursday, February 25th. Eleven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $62.06.
Shares of NYSE:VZ traded down $1.17 during mid-day trading on Thursday, reaching $57.83. The stock had a trading volume of 179,669 shares, compared to its average volume of 20,359,465. The firm has a 50 day simple moving average of $56.65 and a two-hundred day simple moving average of $58.04. Verizon Communications Inc. has a twelve month low of $52.85 and a twelve month high of $61.95. The firm has a market cap of $239.42 billion, a PE ratio of 12.80, a price-to-earnings-growth ratio of 3.54 and a beta of 0.44. 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 posted its earnings results on Monday, January 25th. The cell phone carrier reported $1.21 earnings per share for the quarter, topping the Thomson Reuters’ 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 company had revenue of $34.70 billion for the quarter, compared to analyst estimates of $34.47 billion. During the same period last year, the business posted $1.13 earnings per share. The business’s revenue for the quarter was down .2% compared to the same quarter last year. On average, equities analysts anticipate that Verizon Communications Inc. will post 4.77 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, May 3rd. Shareholders of record on Friday, April 9th will be issued a dividend of $0.6275 per share. The ex-dividend date of this dividend is Thursday, April 8th. This represents a $2.51 annualized dividend and a yield of 4.34%. Verizon Communications’s dividend payout ratio is presently 52.18%.
In related news, EVP Craig L. Silliman sold 1,555 shares of the business’s stock in a transaction that occurred on Monday, April 5th. The stock was sold at an average price of $58.53, for a total value of $91,014.15. Following the completion of the transaction, the executive vice president now directly owns 36,242 shares in the company, valued at approximately $2,121,244.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.07% of the stock is currently owned by insiders.
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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