Thompson Davis & CO. Inc. decreased its stake in Verizon Communications Inc. (NYSE:VZ) by 49.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,731 shares of the cell phone carrier’s stock after selling 6,593 shares during the quarter. Thompson Davis & CO. Inc.’s holdings in Verizon Communications were worth $333,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Private Vista LLC boosted its stake in shares of Verizon Communications by 3,339.1% in the second 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 period. Mountain Capital Investment Advisors Inc bought a new position in shares of Verizon Communications in the second quarter worth about $156,000. Regal Wealth Group Inc. boosted its stake in shares of Verizon Communications by 0.7% in the second quarter. Regal Wealth Group Inc. now owns 3,682 shares of the cell phone carrier’s stock worth $164,000 after acquiring an additional 24 shares during the period. Camarda Financial Advisors LLC boosted its stake in shares of 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 worth $167,000 after acquiring an additional 382 shares during the period. Finally, Atlantic Trust LLC boosted its stake in shares of Verizon Communications by 9.9% in the second quarter. Atlantic Trust LLC now owns 11,164 shares of the cell phone carrier’s stock worth $170,000 after acquiring an additional 1,005 shares during the period. Institutional investors and hedge funds own 63.21% of the company’s stock.
Shares of Verizon Communications Inc. (NYSE:VZ) opened at $51.61 on Wednesday. Verizon Communications Inc. has a 52-week low of $42.80 and a 52-week high of $53.69. The company has a debt-to-equity ratio of 4.05, a quick ratio of 1.02 and a current ratio of 1.07. The stock has a market capitalization of $210,540.00, a P/E ratio of 13.23, a price-to-earnings-growth ratio of 4.80 and a beta of 0.57.
Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Thursday, October 19th. The cell phone carrier reported $0.98 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.98. Verizon Communications had a return on equity of 58.66% and a net margin of 12.80%. The business had revenue of $31.70 billion for the quarter, compared to the consensus estimate of $31.45 billion. During the same period in the prior year, the business posted $1.01 earnings per share. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. equities research analysts predict that Verizon Communications Inc. will post 3.77 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $2.36 dividend on an annualized basis and a yield of 4.57%. Verizon Communications’s dividend payout ratio (DPR) is presently 60.51%.
In other news, EVP Craig L. Silliman sold 610 shares of the stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $47.41, for a total value of $28,920.10. Following the sale, the executive vice president now directly owns 3,269 shares in the company, valued at $154,983.29. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.13% of the company’s stock.
A number of equities analysts recently commented on the company. HSBC lowered Verizon Communications from a “buy” rating to a “hold” rating and dropped their price target for the company from $54.83 to $42.80 in a research note on Thursday, December 14th. They noted that the move was a valuation call. Bank of America set a $52.00 price target on Verizon Communications and gave the company a “buy” rating in a research note on Friday, October 20th. Robert W. Baird reissued a “hold” rating and set a $49.00 price target on shares of Verizon Communications in a research note on Wednesday, October 4th. ValuEngine raised Verizon Communications from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Finally, KeyCorp reissued a “hold” rating on shares of Verizon Communications in a research note on Saturday, October 21st. Two investment analysts have rated the stock with a sell rating, eighteen have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $51.98.
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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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