Telos Capital Management Inc. lessened its position in Verizon Communications Inc. (NYSE:VZ) by 13.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,069 shares of the cell phone carrier’s stock after selling 2,101 shares during the quarter. Telos Capital Management Inc.’s holdings in Verizon Communications were worth $628,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in the stock. Franklin Parlapiano Turner & Welch LLC bought a new position in Verizon Communications in the first quarter valued at approximately $136,000. American Beacon Advisors Inc. bought a new position in shares of Verizon Communications during the 1st quarter worth approximately $140,000. Proficio Capital Partners LLC boosted its stake in shares of Verizon Communications by 139.8% during the 1st quarter. Proficio Capital Partners LLC now owns 3,158 shares of the cell phone carrier’s stock worth $142,000 after acquiring an additional 1,841 shares during the period. Camarda Financial Advisors LLC boosted its stake in shares of Verizon Communications by 11.3% during the 2nd quarter. Camarda Financial Advisors LLC now owns 3,749 shares of the cell phone carrier’s stock worth $167,000 after acquiring an additional 382 shares during the period. Finally, Asset Advisors Corp boosted its stake in shares of Verizon Communications by 2.5% during the 2nd quarter. Asset Advisors Corp now owns 4,085 shares of the cell phone carrier’s stock worth $182,000 after acquiring an additional 100 shares during the period. 62.28% of the stock is currently owned by institutional investors and hedge funds.
Shares of Verizon Communications Inc. (VZ) traded down 0.04% during trading on Friday, reaching $48.87. 12,423,443 shares of the company were exchanged. The company’s 50-day moving average is $48.60 and its 200 day moving average is $47.02. The firm has a market capitalization of $199.36 billion, a PE ratio of 12.56 and a beta of 0.56. Verizon Communications Inc. has a 1-year low of $42.80 and a 1-year high of $54.83.
Verizon Communications (NYSE:VZ) last announced its earnings results on Thursday, October 19th. The cell phone carrier reported $0.98 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.98. The company had revenue of $31.70 billion during the quarter, compared to the consensus estimate of $31.45 billion. Verizon Communications had a net margin of 12.80% and a return on equity of 58.66%. Verizon Communications’s revenue was up 2.5% compared to the same quarter last year. During the same period last year, the firm earned $1.01 earnings per share. Equities research analysts expect that Verizon Communications Inc. will post $3.76 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th will be issued a $0.59 dividend. The ex-dividend date is Friday, October 6th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.83%. This is a boost from Verizon Communications’s previous quarterly dividend of $0.58. Verizon Communications’s dividend payout ratio (DPR) is currently 60.51%.
Several analysts recently issued reports on VZ shares. Macquarie restated a “hold” rating and issued a $52.00 price target on shares of Verizon Communications in a research note on Sunday, October 22nd. Cowen and Company reaffirmed a “hold” rating and issued a $49.00 price objective on shares of Verizon Communications in a report on Wednesday, July 19th. Moffett Nathanson reaffirmed a “buy” rating on shares of Verizon Communications in a report on Thursday, October 12th. SunTrust Banks, Inc. reissued a “hold” rating and set a $50.00 price target on shares of Verizon Communications in a report on Friday, October 20th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $50.00 price target on shares of Verizon Communications in a report on Monday, July 3rd. Two research analysts have rated the stock with a sell rating, twenty have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $52.75.
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In related news, EVP Craig L. Silliman sold 610 shares of the firm’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $48.65, for a total transaction of $29,676.50. Following the completion of the transaction, 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 filing with the SEC, which is available at the SEC website. Company insiders own 0.13% of the company’s stock.
Verizon Communications Company 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.
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