First Allied Advisory Services Inc. lessened its holdings in Verizon Communications Inc. (NYSE:VZ) by 11.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 265,478 shares of the cell phone carrier’s stock after selling 34,411 shares during the quarter. First Allied Advisory Services Inc.’s holdings in Verizon Communications were worth $11,883,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in VZ. Franklin Parlapiano Turner & Welch LLC bought a new stake in Verizon Communications during the first quarter worth about $136,000. American Beacon Advisors Inc. bought a new stake in Verizon Communications during the first quarter worth about $140,000. Proficio Capital Partners LLC lifted 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 purchasing an additional 1,841 shares during the period. Private Vista LLC lifted its position in Verizon Communications by 3,339.1% during the second quarter. Private Vista LLC now owns 389,552 shares of the cell phone carrier’s stock worth $143,000 after purchasing an additional 378,225 shares during the period. Finally, Regal Wealth Group Inc. lifted its position in Verizon Communications by 0.7% during the second quarter. Regal Wealth Group Inc. now owns 3,682 shares of the cell phone carrier’s stock worth $164,000 after purchasing an additional 24 shares during the period. 63.37% of the stock is owned by institutional investors.
In other news, EVP Craig L. Silliman sold 610 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $48.62, for a total value of $29,658.20. Following the completion of the transaction, the executive vice president now owns 5,989 shares of the company’s stock, valued at $291,185.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 1,830 shares of company stock valued at $88,609 in the last ninety days. 0.13% of the stock is currently owned by insiders.
Verizon Communications Inc. (NYSE:VZ) traded up $0.67 during mid-day trading on Monday, hitting $51.09. 13,639,800 shares of the stock were exchanged, compared to its average volume of 15,623,382. The company has a market capitalization of $208,418.64, a PE ratio of 13.62, a P/E/G ratio of 4.80 and a beta of 0.57. 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 52-week low of $42.80 and a 52-week high of $54.83.
Verizon Communications (NYSE:VZ) last posted its earnings results on Thursday, October 19th. The cell phone carrier reported $0.98 EPS for the quarter, hitting analysts’ consensus estimates of $0.98. The firm had revenue of $31.70 billion during the quarter, compared to analysts’ expectations of $31.45 billion. Verizon Communications had a net margin of 12.80% and a return on equity of 58.66%. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.01 earnings per share. sell-side analysts forecast that Verizon Communications Inc. will post 3.77 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.62%. Verizon Communications’s dividend payout ratio (DPR) is currently 60.51%.
Several equities research analysts recently weighed in on the stock. ValuEngine raised shares of Verizon Communications from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Moffett Nathanson reaffirmed a “buy” rating on shares of Verizon Communications in a research report on Thursday, October 12th. Cowen reaffirmed a “hold” rating and set a $52.00 price objective on shares of Verizon Communications in a research report on Tuesday, September 19th. KeyCorp reaffirmed a “hold” rating on shares of Verizon Communications in a research report on Wednesday, October 11th. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $49.00 price objective on shares of Verizon Communications in a research report on Wednesday, October 4th. Two investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Verizon Communications currently has a consensus rating of “Hold” and a consensus target price of $51.25.
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Verizon Communications 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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