Wayne Hummer Investments L.L.C. lessened its holdings in Verizon Communications Inc. (NYSE:VZ) by 27.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,613 shares of the cell phone carrier’s stock after selling 3,339 shares during the period. Wayne Hummer Investments L.L.C.’s holdings in Verizon Communications were worth $385,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the stock. Ronna Sue Cohen raised its holdings in Verizon Communications by 0.4% in the 2nd quarter. Ronna Sue Cohen now owns 4,832 shares of the cell phone carrier’s stock worth $216,000 after acquiring an additional 19 shares during the period. Oakmont Partners LLC raised its holdings in Verizon Communications by 0.3% in the 2nd quarter. Oakmont Partners LLC now owns 6,391 shares of the cell phone carrier’s stock worth $285,000 after acquiring an additional 22 shares during the period. Conservest Capital Advisors Inc. raised its holdings in Verizon Communications by 0.5% in the 2nd quarter. Conservest Capital Advisors Inc. now owns 5,024 shares of the cell phone carrier’s stock worth $224,000 after acquiring an additional 23 shares during the period. Nottingham Advisors Inc. raised its holdings in Verizon Communications by 0.5% in the 2nd quarter. Nottingham Advisors Inc. now owns 6,425 shares of the cell phone carrier’s stock worth $287,000 after acquiring an additional 35 shares during the period. Finally, Camden National Bank raised its holdings in Verizon Communications by 0.7% in the 2nd quarter. Camden National Bank now owns 4,972 shares of the cell phone carrier’s stock worth $222,000 after acquiring an additional 37 shares during the period. 63.19% of the stock is owned by institutional investors and hedge funds.
Several research analysts recently commented on VZ shares. TheStreet upgraded shares of Verizon Communications from a “c+” rating to a “b-” rating in a report on Tuesday, August 8th. Moffett Nathanson reiterated a “buy” rating on shares of Verizon Communications in a report on Thursday, October 12th. Bank of America Corporation set a $52.00 target price on shares of Verizon Communications and gave the stock a “buy” rating in a report on Friday, October 20th. ValuEngine upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating in a report on Monday, October 23rd. Finally, Macquarie reiterated a “hold” rating and issued a $52.00 target price on shares of Verizon Communications in a report on Sunday, October 22nd. Two equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $52.75.
Verizon Communications Inc. (NYSE VZ) opened at $45.42 on Monday. The company has a market cap of $185,288.20, a PE ratio of 12.11, a price-to-earnings-growth ratio of 4.27 and a beta of 0.55. Verizon Communications Inc. has a 12-month low of $42.80 and a 12-month high of $54.83. 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 (NYSE:VZ) last released its quarterly earnings results on Thursday, October 19th. The cell phone carrier reported $0.98 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.98. The firm 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% compared to the same quarter last year. During the same period in the previous year, the business earned $1.01 earnings per share. equities research analysts predict that Verizon Communications Inc. will post 3.77 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th were given a $0.59 dividend. The ex-dividend date of this dividend was Friday, October 6th. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.58. This represents a $2.36 dividend on an annualized basis and a yield of 5.20%. Verizon Communications’s payout ratio is 60.51%.
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In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of the business’s stock in a transaction dated Friday, October 27th. The shares were 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 in the company, valued at $291,185.18. The transaction was disclosed in a document filed with the SEC, which is available through this link. Over the last 90 days, insiders sold 1,830 shares of company stock worth $89,365. 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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