Bradley Foster & Sargent Inc. CT lessened its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 26.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 140,020 shares of the cell phone carrier’s stock after selling 49,282 shares during the period. Bradley Foster & Sargent Inc. CT owned approximately 3,432.33% of Verizon Communications worth $6,930,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also modified their holdings of the company. Roffman Miller Associates Inc. PA grew its position in Verizon Communications by 5.9% during the third quarter. Roffman Miller Associates Inc. PA now owns 329,786 shares of the cell phone carrier’s stock valued at $16,321,000 after buying an additional 18,252 shares during the period. ZWJ Investment Counsel Inc. grew its position in Verizon Communications by 1.0% during the third quarter. ZWJ Investment Counsel Inc. now owns 499,309 shares of the cell phone carrier’s stock valued at $24,711,000 after buying an additional 4,738 shares during the period. John G Ullman & Associates Inc. acquired a new stake in Verizon Communications during the third quarter valued at $218,000. Swiss National Bank grew its position in Verizon Communications by 0.9% during the third quarter. Swiss National Bank now owns 16,893,830 shares of the cell phone carrier’s stock valued at $836,076,000 after buying an additional 154,300 shares during the period. Finally, Jaffetilchin Investment Partners LLC acquired a new stake in Verizon Communications during the third quarter valued at $397,000. 63.31% of the stock is owned by hedge funds and other institutional investors.
Verizon Communications Inc. (VZ) traded up $0.23 during trading hours on Monday, hitting $50.11. 16,891,587 shares of the stock traded hands, compared to its average volume of 18,430,000. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.54. The stock has a market capitalization of $204,420.00, a P/E ratio of 6.81, a P/E/G ratio of 2.03 and a beta of 0.58. Verizon Communications Inc. has a 12-month low of $42.80 and a 12-month high of $54.77.
Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Tuesday, January 23rd. The cell phone carrier reported $0.86 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by ($0.02). The business had revenue of $33.96 billion during 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 business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.86 earnings per share. analysts expect that Verizon Communications Inc. will post 4.54 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 4.71%. The ex-dividend date of this dividend was Tuesday, January 9th. Verizon Communications’s dividend payout ratio is currently 32.07%.
In other news, EVP Craig L. Silliman sold 610 shares of the firm’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $47.41, for a total value of $28,920.10. Following the transaction, the executive vice president now directly owns 3,269 shares of the company’s stock, valued at $154,983.29. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.13% of the company’s stock.
VZ has been the topic of several analyst reports. Instinet raised their price target on shares of Verizon Communications from $47.00 to $61.00 and gave the company a “buy” rating in a research report on Tuesday, December 12th. Nomura upgraded shares of Verizon Communications from a “neutral” rating to a “buy” rating and lifted their target price for the company from $47.00 to $61.00 in a research report on Tuesday, December 12th. ValuEngine upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Bank of America set a $52.00 target price on shares of Verizon Communications and gave the company a “buy” rating in a research report on Friday, October 20th. Finally, Scotiabank upgraded shares of Verizon Communications from a “sector perform” rating to a “buy” rating and set a $60.00 target price on the stock in a research report on Monday, January 22nd. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have issued a buy rating to the stock. Verizon Communications presently has an average rating of “Hold” and a consensus target price of $53.37.
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Verizon Communications Company 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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