Thompson Davis & CO. Inc. lowered its position in shares of Verizon Communications Inc. (NYSE:VZ) by 49.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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.
Several other institutional investors have also recently made changes to their positions in the business. Oakmont Partners LLC increased its stake in Verizon Communications by 0.3% during the second 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 last quarter. Conservest Capital Advisors Inc. increased its stake in Verizon Communications by 0.5% during the second 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 last quarter. Regal Wealth Group Inc. increased its stake 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 acquiring an additional 24 shares during the last quarter. Glassman Wealth Services increased its stake in Verizon Communications by 0.4% during the second quarter. Glassman Wealth Services now owns 7,719 shares of the cell phone carrier’s stock worth $345,000 after acquiring an additional 31 shares during the last quarter. Finally, Nottingham Advisors Inc. increased its stake in Verizon Communications by 0.5% during the second 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 last quarter. 63.22% of the stock is owned by institutional investors and hedge funds.
Verizon Communications Inc. (NYSE VZ) traded up $0.23 during trading hours on Thursday, reaching $54.30. The company had a trading volume of 18,646,097 shares, compared to its average volume of 15,930,000. The stock has a market capitalization of $221,510.00, a price-to-earnings ratio of 7.38, a PEG ratio of 2.19 and a beta of 0.57. The company has a debt-to-equity ratio of 2.54, a quick ratio of 0.87 and a current ratio of 0.91. Verizon Communications Inc. has a 52-week low of $42.80 and a 52-week high of $54.77.
Verizon Communications (NYSE:VZ) last announced its quarterly earnings results on Tuesday, January 23rd. The cell phone carrier reported $0.86 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.88 by ($0.02). The business had revenue of $33.96 billion for the quarter, compared to analysts’ expectations of $33.20 billion. Verizon Communications had a return on equity of 48.97% and a net margin of 23.88%. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period last year, the firm earned $0.86 earnings per share. equities analysts anticipate that Verizon Communications Inc. will post 4.54 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 4.35%. The ex-dividend date of this dividend is Tuesday, January 9th. Verizon Communications’s dividend payout ratio (DPR) is 32.07%.
In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of Verizon Communications stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $47.41, for a total transaction of $28,920.10. Following the completion of the sale, the executive vice president now directly owns 3,269 shares of the company’s stock, valued at approximately $154,983.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.13% of the stock is owned by insiders.
VZ has been the subject of several recent analyst reports. Robert W. Baird reissued a “hold” rating and set a $49.00 target price on shares of Verizon Communications in a research note on Wednesday, October 4th. KeyCorp restated a “hold” rating on shares of Verizon Communications in a research report on Wednesday, October 11th. Moffett Nathanson restated a “buy” rating on shares of Verizon Communications in a research report on Thursday, October 12th. SunTrust Banks restated a “hold” rating and set a $50.00 price target on shares of Verizon Communications in a research report on Friday, October 20th. Finally, Bank of America set a $52.00 price target on Verizon Communications and gave the stock a “buy” rating in a research report on Friday, October 20th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Verizon Communications presently has a consensus rating of “Hold” and an average price target of $53.14.
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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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