ZWJ Investment Counsel Inc. lifted its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 0.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 494,571 shares of the cell phone carrier’s stock after acquiring an additional 2,217 shares during the period. Verizon Communications accounts for approximately 1.8% of ZWJ Investment Counsel Inc.’s investment portfolio, making the stock its 20th biggest holding. ZWJ Investment Counsel Inc.’s holdings in Verizon Communications were worth $22,088,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of VZ. Franklin Parlapiano Turner & Welch LLC acquired a new stake in shares of Verizon Communications during the 1st quarter worth about $136,000. American Beacon Advisors Inc. acquired a new position in Verizon Communications during the first quarter worth approximately $140,000. Proficio Capital Partners LLC increased its position in 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 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 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. 62.09% of the stock is currently owned by institutional investors and hedge funds.
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Shares of Verizon Communications Inc. (VZ) opened at $45.42 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. Verizon Communications Inc. has a 12-month low of $42.80 and a 12-month high of $54.83. The stock has a market capitalization of $182,640.00, a price-to-earnings ratio of 11.79, a PEG ratio of 4.16 and a beta of 0.55.
Verizon Communications (NYSE:VZ) last released its earnings results on Thursday, October 19th. The cell phone carrier reported $0.98 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.98. The firm had revenue of $31.70 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.01 earnings per share. sell-side analysts anticipate that Verizon Communications Inc. will post 3.77 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th were paid a $0.59 dividend. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.58. This represents a $2.36 annualized dividend and a yield of 5.20%. The ex-dividend date was Friday, October 6th. Verizon Communications’s dividend payout ratio is presently 60.51%.
Several research analysts have commented on VZ shares. KeyCorp reaffirmed a “hold” rating on shares of Verizon Communications in a research report on Saturday, October 21st. BidaskClub raised Verizon Communications from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Cowen and Company reaffirmed a “hold” rating and set a $52.00 price target on shares of Verizon Communications in a research report on Tuesday, September 19th. Macquarie reaffirmed a “hold” rating and set a $52.00 price target on shares of Verizon Communications in a research report on Sunday, October 22nd. Finally, Royal Bank Of Canada lifted their price target on Verizon Communications from $48.00 to $50.00 and gave the stock a “sector perform” rating in a research report on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $52.75.
In related news, EVP Craig L. Silliman sold 610 shares of the company’s stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $49.23, for a total value of $30,030.30. Following the completion of the transaction, the executive vice president now directly owns 6,599 shares in the company, valued at $324,868.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 1,830 shares of company stock valued at $89,365 over the last quarter. Insiders own 0.13% of the company’s stock.
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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