Albion Financial Group UT boosted its position in shares of Verizon Communications Inc. (NYSE:VZ) by 6.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 64,142 shares of the cell phone carrier’s stock after purchasing an additional 4,105 shares during the quarter. Albion Financial Group UT’s holdings in Verizon Communications were worth $3,174,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in VZ. Legacy Advisors LLC acquired a new stake in shares of Verizon Communications in the 3rd quarter worth $132,000. Shine Investment Advisory Services Inc. boosted its position in shares of Verizon Communications by 190.9% in the 3rd quarter. Shine Investment Advisory Services Inc. now owns 2,705 shares of the cell phone carrier’s stock worth $134,000 after purchasing an additional 1,775 shares in the last quarter. Private Vista LLC boosted its position in shares of 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 purchasing an additional 378,225 shares in the last quarter. Mountain Capital Investment Advisors Inc acquired a new stake in shares of Verizon Communications in the 2nd quarter worth $156,000. Finally, Regal Wealth Group Inc. boosted its position in shares of Verizon Communications by 0.7% in the 2nd 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 in the last quarter. Institutional investors own 63.31% of the company’s stock.
Verizon Communications Inc. (VZ) traded down $0.37 during midday trading on Wednesday, hitting $49.71. The company’s stock had a trading volume of 5,261,396 shares, compared to its average volume of 18,261,105. The stock has a market cap of $204,300.00, a price-to-earnings ratio of 15.24, a P/E/G ratio of 2.04 and a beta of 0.58. Verizon Communications Inc. has a twelve month low of $42.80 and a twelve month high of $54.77. The company has a debt-to-equity ratio of 2.54, a current ratio of 0.91 and a quick ratio of 0.87.
Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Tuesday, January 23rd. The cell phone carrier reported $0.86 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.88 by ($0.02). The company had revenue of $33.96 billion for the quarter, compared to analysts’ expectations of $33.20 billion. Verizon Communications had a net margin of 23.88% and a return on equity of 48.97%. The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.86 EPS. sell-side analysts expect that Verizon Communications Inc. will post 4.54 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th were paid a dividend of $0.59 per share. The ex-dividend date was Tuesday, January 9th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.75%. Verizon Communications’s payout ratio is currently 72.39%.
In related 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 value of $28,920.10. Following the completion of the transaction, the executive vice president now owns 3,269 shares in the company, valued at approximately $154,983.29. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.13% of the company’s stock.
A number of analysts have recently weighed in on VZ shares. Wells Fargo & Co raised Verizon Communications from a “market perform” rating to an “outperform” rating and set a $50.00 price objective for the company in a research report on Monday, November 20th. Instinet raised their price objective on Verizon Communications from $47.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, December 12th. Nomura raised Verizon Communications from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $47.00 to $61.00 in a research report on Tuesday, December 12th. SunTrust Banks reaffirmed a “hold” rating and set a $50.00 price target on shares of Verizon Communications in a research report on Friday, October 20th. Finally, Moffett Nathanson cut Verizon Communications from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 16th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and ten have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $53.51.
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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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