Stanley Laman Group Ltd. increased its position in Verizon Communications Inc. (NYSE:VZ) by 18.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,647 shares of the cell phone carrier’s stock after acquiring an additional 10,437 shares during the period. Stanley Laman Group Ltd.’s holdings in Verizon Communications were worth $3,021,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Franklin Parlapiano Turner & Welch LLC purchased a new stake in shares of Verizon Communications during the first quarter worth about $136,000. American Beacon Advisors Inc. acquired a new position in Verizon Communications in the first quarter worth about $140,000. Proficio Capital Partners LLC grew its stake in Verizon Communications by 139.8% in the first quarter. Proficio Capital Partners LLC now owns 3,158 shares of the cell phone carrier’s stock worth $142,000 after purchasing an additional 1,841 shares in the last quarter. Camarda Financial Advisors LLC boosted its stake in Verizon Communications by 11.3% in the second quarter. Camarda Financial Advisors LLC now owns 3,749 shares of the cell phone carrier’s stock valued at $167,000 after acquiring an additional 382 shares during the period. Finally, Asset Advisors Corp boosted its stake in Verizon Communications by 2.5% in the second quarter. Asset Advisors Corp now owns 4,085 shares of the cell phone carrier’s stock valued at $182,000 after acquiring an additional 100 shares during the period. Institutional investors and hedge funds own 63.37% of the company’s stock.
Shares of Verizon Communications Inc. (VZ) traded up $0.47 during trading on Tuesday, reaching $51.72. 19,371,000 shares of the company’s stock traded hands, compared to its average volume of 15,631,953. The company has a debt-to-equity ratio of 4.05, a current ratio of 1.07 and a quick ratio of 1.02. The company has a market capitalization of $209,071.34, a PE ratio of 13.67, a price-to-earnings-growth ratio of 4.81 and a beta of 0.57. Verizon Communications Inc. has a 1 year low of $42.80 and a 1 year high of $54.83.
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 Thomson Reuters’ consensus estimate of $0.98. Verizon Communications had a net margin of 12.80% and a return on equity of 58.66%. The business had revenue of $31.70 billion for the quarter, compared to analysts’ expectations of $31.45 billion. During the same period in the prior year, the firm earned $1.01 earnings per share. Verizon Communications’s revenue was up 2.5% compared to the same quarter last year. equities analysts expect that Verizon Communications Inc. will post 3.77 EPS for the current fiscal year.
Several brokerages recently commented on VZ. Bank of America set a $52.00 target price on Verizon Communications and gave the stock a “buy” rating in a report on Friday, October 20th. TheStreet raised Verizon Communications from a “c+” rating to a “b-” rating in a report on Tuesday, August 8th. Robert W. Baird reaffirmed a “hold” rating and issued a $49.00 price target on shares of Verizon Communications in a report on Wednesday, October 4th. ValuEngine raised Verizon Communications from a “hold” rating to a “buy” rating in a report on Friday. Finally, KeyCorp reiterated a “hold” rating on shares of Verizon Communications in a research report on Saturday, October 21st. Two analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $51.25.
In other 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 completion of the transaction, the executive vice president now owns 6,599 shares of the company’s stock, valued at approximately $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 valued at $88,609. 0.13% of the stock is owned by insiders.
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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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