Dixon Hubard Feinour & Brown Inc. VA reduced its position in Verizon Communications Inc. (NYSE:VZ) by 6.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 46,217 shares of the cell phone carrier’s stock after selling 3,298 shares during the quarter. Dixon Hubard Feinour & Brown Inc. VA’s holdings in Verizon Communications were worth $2,287,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the stock. Regal Wealth Group Inc. raised 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 in the last quarter. Glassman Wealth Services raised 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 in the last quarter. Nottingham Advisors Inc. raised 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 in the last quarter. Camden National Bank raised its stake in Verizon Communications by 0.7% during the second quarter. Camden National Bank now owns 4,972 shares of the cell phone carrier’s stock worth $222,000 after acquiring an additional 37 shares in the last quarter. Finally, DF Dent & Co. Inc. raised its stake in Verizon Communications by 0.6% during the second quarter. DF Dent & Co. Inc. now owns 8,506 shares of the cell phone carrier’s stock worth $380,000 after acquiring an additional 50 shares in the last quarter. 63.31% of the stock is owned by hedge funds and other institutional investors.
In other 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 transaction, the executive vice president now owns 3,269 shares in the company, valued at approximately $154,983.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.13% of the company’s stock.
Verizon Communications Inc. (NYSE VZ) opened at $50.08 on Wednesday. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.54. Verizon Communications Inc. has a 1-year low of $42.80 and a 1-year high of $54.77. The stock has a market capitalization of $204,300.00, a PE ratio of 15.36, a price-to-earnings-growth ratio of 2.04 and a beta of 0.58.
Verizon Communications (NYSE:VZ) last issued its 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). Verizon Communications had a return on equity of 48.97% and a net margin of 23.88%. The company had revenue of $33.96 billion for the quarter, compared to the consensus estimate of $33.20 billion. During the same quarter last year, the business posted $0.86 EPS. Verizon Communications’s quarterly revenue was up 2.2% on a year-over-year basis. sell-side analysts expect that Verizon Communications Inc. will post 4.54 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th were issued a dividend of $0.59 per share. 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 (DPR) is presently 72.39%.
VZ has been the subject of several recent analyst reports. Macquarie reiterated a “hold” rating and set a $52.00 price objective on shares of Verizon Communications in a research note on Sunday, October 22nd. Scotiabank upgraded Verizon Communications from a “sector perform” rating to a “buy” rating and set a $60.00 target price for the company in a research note on Monday, January 22nd. Scotia Howard Weill upgraded Verizon Communications from a “sector perform” rating to a “sector outperform” rating in a research note on Monday, January 22nd. Zacks Investment Research upgraded Verizon Communications from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a research note on Tuesday. Finally, SunTrust Banks restated a “hold” rating and issued a $50.00 target price on shares of Verizon Communications in a research note on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and ten have given a buy rating to the company. Verizon Communications has an average rating of “Hold” and a consensus price target of $53.51.
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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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