Pioneer Trust Bank N A OR increased its position in shares of Verizon Communications Inc. (NYSE:VZ) by 5.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 36,701 shares of the cell phone carrier’s stock after purchasing an additional 1,981 shares during the period. Pioneer Trust Bank N A OR’s holdings in Verizon Communications were worth $2,097,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently added to or reduced their stakes in VZ. APG Asset Management N.V. increased its stake in Verizon Communications by 64.8% during the 4th quarter. APG Asset Management N.V. now owns 15,572,858 shares of the cell phone carrier’s stock worth $765,872,000 after acquiring an additional 6,120,966 shares during the period. Sanders Capital LLC increased its stake in Verizon Communications by 81.8% during the 4th quarter. Sanders Capital LLC now owns 7,478,500 shares of the cell phone carrier’s stock worth $472,377,000 after acquiring an additional 3,366,000 shares during the period. Royal London Asset Management Ltd. bought a new position in Verizon Communications during the 4th quarter worth $126,518,000. Thoroughbred Financial Services LLC increased its stake in Verizon Communications by 5,955.3% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 2,311,230 shares of the cell phone carrier’s stock worth $231,123,000 after acquiring an additional 2,273,061 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Verizon Communications by 4.0% during the 4th quarter. Bank of New York Mellon Corp now owns 57,437,652 shares of the cell phone carrier’s stock worth $3,229,145,000 after acquiring an additional 2,195,292 shares during the period. 65.60% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have recently issued reports on the company. Citigroup lowered Verizon Communications from a “buy” rating to a “neutral” rating and set a $62.00 price target on the stock. in a research note on Monday, July 8th. Goldman Sachs Group reiterated a “buy” rating and issued a $65.00 price target on shares of Verizon Communications in a research note on Tuesday, April 23rd. Bank of America set a $64.00 price target on Verizon Communications and gave the company a “buy” rating in a research note on Tuesday, April 23rd. UBS Group lowered Verizon Communications from a “buy” rating to a “neutral” rating and set a $57.70 price target on the stock. in a research note on Thursday, May 30th. They noted that the move was a valuation call. Finally, Royal Bank of Canada reiterated a “neutral” rating and issued a $57.00 price target on shares of Verizon Communications in a research note on Tuesday, April 23rd. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $59.33.
In other Verizon Communications news, EVP Craig L. Silliman sold 1,349 shares of Verizon Communications stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $56.55, for a total transaction of $76,285.95. Following the transaction, the executive vice president now directly owns 24,030 shares of the company’s stock, valued at approximately $1,358,896.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 4,047 shares of company stock worth $234,591 over the last ninety days. Company insiders own 0.03% of the company’s stock.
VZ stock traded up $0.01 during midday trading on Monday, reaching $55.60. 4,921,577 shares of the stock were exchanged, compared to its average volume of 12,338,430. The company has a market cap of $229.90 billion, a PE ratio of 11.80, a PEG ratio of 2.75 and a beta of 0.53. Verizon Communications Inc. has a 52 week low of $51.76 and a 52 week high of $61.58. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 2.12. The firm has a fifty day moving average of $57.19.
Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Thursday, August 1st. The cell phone carrier reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.03. The business had revenue of $32.07 billion for the quarter, compared to analyst estimates of $32.42 billion. Verizon Communications had a return on equity of 34.91% and a net margin of 12.08%. Verizon Communications’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.20 EPS. As a group, sell-side analysts expect that Verizon Communications Inc. will post 4.76 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were issued a dividend of $0.6025 per share. This represents a $2.41 annualized dividend and a yield of 4.33%. The ex-dividend date was Tuesday, July 9th. Verizon Communications’s payout ratio is presently 51.17%.
Verizon Communications Profile
Verizon Communications Inc, through its subsidiaries, offers communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company's Wireless segment provides wireless voice and data services; Internet access on various notebook computers and tablets; international travel wireless services; and network access services to deliver various Internet of Things products and services, as well as offers digital advertising and digital media services platforms.
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