Morningstar Investment Services LLC lifted its position in shares of Verizon Communications Inc. (NYSE:VZ) by 3.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 891,314 shares of the cell phone carrier’s stock after buying an additional 25,761 shares during the quarter. Morningstar Investment Services LLC’s holdings in Verizon Communications were worth $39,806,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of VZ. Franklin Parlapiano Turner & Welch LLC acquired a new stake in shares of Verizon Communications during the first quarter worth $136,000. American Beacon Advisors Inc. acquired a new stake in shares of Verizon Communications during the first quarter worth $140,000. Proficio Capital Partners LLC increased its position in shares of Verizon Communications by 139.8% during the first quarter. Proficio Capital Partners LLC now owns 3,158 shares of the cell phone carrier’s stock worth $142,000 after buying an additional 1,841 shares during the period. Camarda Financial Advisors LLC increased its position in shares of Verizon Communications by 11.3% during the second quarter. Camarda Financial Advisors LLC now owns 3,749 shares of the cell phone carrier’s stock worth $167,000 after buying an additional 382 shares during the period. Finally, Asset Advisors Corp increased its position in shares of Verizon Communications by 2.5% during the second quarter. Asset Advisors Corp now owns 4,085 shares of the cell phone carrier’s stock worth $182,000 after buying an additional 100 shares during the period. Institutional investors own 62.05% of the company’s stock.
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In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of Verizon Communications stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $49.23, for a total value of $30,030.30. Following the sale, the executive vice president now owns 6,599 shares of the company’s stock, valued at $324,868.77. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders sold 1,830 shares of company stock worth $89,365. Insiders own 0.13% of the company’s stock.
Shares of Verizon Communications Inc. (NYSE VZ) opened at $44.88 on Friday. The company has a market cap of $183,860.41, a PE ratio of 12.02, a price-to-earnings-growth ratio of 4.24 and a beta of 0.55. The company has a debt-to-equity ratio of 4.05, a current ratio of 1.07 and a quick ratio of 1.02. Verizon Communications Inc. has a 12-month low of $42.80 and a 12-month high of $54.83.
Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Thursday, October 19th. The cell phone carrier reported $0.98 EPS for the quarter, hitting the consensus estimate of $0.98. The business had revenue of $31.70 billion for the quarter, compared to analyst estimates of $31.45 billion. Verizon Communications had a net margin of 12.80% and a return on equity of 58.66%. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.01 earnings per share. equities analysts forecast that Verizon Communications Inc. will post 3.77 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th were given a $0.59 dividend. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.58. The ex-dividend date was Friday, October 6th. This represents a $2.36 annualized dividend and a yield of 5.26%. Verizon Communications’s payout ratio is currently 60.51%.
A number of equities research analysts have commented on VZ shares. KeyCorp restated a “hold” rating on shares of Verizon Communications in a report on Saturday, October 21st. BidaskClub upgraded shares of Verizon Communications from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Cowen and Company restated a “hold” rating and issued a $52.00 price target on shares of Verizon Communications in a report on Tuesday, September 19th. Macquarie restated a “hold” rating and issued a $52.00 price target on shares of Verizon Communications in a report on Sunday, October 22nd. Finally, Royal Bank of Canada raised their price target on shares of Verizon Communications from $48.00 to $50.00 and gave the stock a “sector perform” rating in a report on Monday, July 31st. Two research analysts have rated the stock with a sell rating, twenty have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $52.75.
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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