Wayne Hummer Investments L.L.C. lowered its stake in Verizon Communications Inc. (NYSE:VZ) by 27.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm 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 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Franklin Parlapiano Turner & Welch LLC bought a new stake in Verizon Communications during the 1st quarter valued at approximately $136,000. American Beacon Advisors Inc. bought a new stake in shares of Verizon Communications in the 1st quarter worth approximately $140,000. Proficio Capital Partners LLC raised its holdings in Verizon Communications by 139.8% in 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 last quarter. Private Vista LLC raised its holdings in Verizon Communications by 3,339.1% in the 2nd quarter. Private Vista LLC now owns 389,552 shares of the cell phone carrier’s stock worth $143,000 after acquiring an additional 378,225 shares during the last quarter. Finally, Camarda Financial Advisors LLC raised its holdings in Verizon Communications by 11.3% in 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 last quarter. Hedge funds and other institutional investors own 63.37% of the company’s stock.
Verizon Communications Inc. (VZ) traded down $0.80 during midday trading on Tuesday, hitting $50.92. 17,573,456 shares of the stock were exchanged, compared to its average volume of 15,640,250. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 4.05. Verizon Communications Inc. has a 1 year low of $42.80 and a 1 year high of $54.83. The company has a market capitalization of $209,071.34, a P/E ratio of 13.67, a PEG ratio of 4.81 and a beta of 0.57.
Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Thursday, October 19th. The cell phone carrier reported $0.98 earnings per share (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 the consensus estimate of $31.45 billion. Verizon Communications had a net margin of 12.80% and a return on equity of 58.66%. The company’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period last year, the firm earned $1.01 earnings per share. equities research analysts expect that Verizon Communications Inc. will post 3.77 earnings per share for the current year.
In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of the firm’s stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 6,599 shares in the company, valued at $324,868.77. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last 90 days, insiders sold 1,830 shares of company stock valued at $88,609. 0.13% of the stock is owned by insiders.
A number of equities analysts recently weighed in on the stock. 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 research note on Thursday, October 12th. Robert W. Baird restated a “hold” rating and issued a $49.00 price objective on shares of Verizon Communications in a research note on Wednesday, October 4th. Wells Fargo & Company upgraded Verizon Communications from a “market perform” rating to an “outperform” rating and set a $50.00 price objective for the company in a research note on Monday, November 20th. Finally, ValuEngine upgraded Verizon Communications from a “hold” rating to a “buy” rating in a research note on Monday, October 23rd. Two research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Verizon Communications currently has a consensus rating of “Hold” and a consensus price target of $51.25.
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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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