Columbia Trust Co 01012016 raised its position in shares of Verizon Communications Inc. (NYSE:VZ) by 3.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,618 shares of the cell phone carrier’s stock after purchasing an additional 420 shares during the period. Columbia Trust Co 01012016’s holdings in Verizon Communications were worth $789,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in VZ. Hoylecohen LLC grew its holdings in Verizon Communications by 0.3% during the first quarter. Hoylecohen LLC now owns 160,821 shares of the cell phone carrier’s stock valued at $9,352,000 after purchasing an additional 492 shares during the period. Stonnington Group LLC purchased a new stake in shares of Verizon Communications in the first quarter worth $786,000. Garde Capital Inc. raised its position in shares of Verizon Communications by 10.3% in the first quarter. Garde Capital Inc. now owns 3,722 shares of the cell phone carrier’s stock worth $216,000 after buying an additional 347 shares in the last quarter. MBL Wealth LLC raised its position in shares of Verizon Communications by 15.8% in the first quarter. MBL Wealth LLC now owns 10,217 shares of the cell phone carrier’s stock worth $594,000 after buying an additional 1,395 shares in the last quarter. Finally, Fragasso Group Inc. raised its position in shares of Verizon Communications by 9.6% in the first quarter. Fragasso Group Inc. now owns 97,102 shares of the cell phone carrier’s stock worth $5,646,000 after buying an additional 8,475 shares in the last quarter. 63.61% of the stock is owned by institutional investors and hedge funds.
Several research analysts have recently commented on VZ shares. Wells Fargo & Company decreased their price objective on Verizon Communications from $58.00 to $56.00 and set an “equal weight” rating on the stock in a report on Thursday, October 21st. Raymond James reissued a “buy” rating and issued a $64.00 target price on shares of Verizon Communications in a research note on Tuesday, September 28th. Barclays cut their price objective on Verizon Communications from $56.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Monday, October 11th. Cowen boosted their price target on Verizon Communications from $68.00 to $71.00 and gave the stock an “outperform” rating in a research report on Thursday, October 21st. Finally, Loop Capital started coverage on Verizon Communications in a research report on Monday, September 20th. They issued a “hold” rating and a $57.00 price target on the stock. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $60.00.
Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Tuesday, October 19th. The cell phone carrier reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.05. Verizon Communications had a net margin of 16.42% and a return on equity of 29.72%. The company had revenue of $32.90 billion during the quarter, compared to analyst estimates of $33.24 billion. During the same period in the previous year, the business earned $1.25 EPS. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. As a group, equities analysts expect that Verizon Communications Inc. will post 5.37 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, November 1st. Investors of record on Friday, October 8th were issued a $0.64 dividend. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.63. This represents a $2.56 dividend on an annualized basis and a yield of 4.96%. The ex-dividend date of this dividend was Thursday, October 7th. Verizon Communications’s payout ratio is presently 48.03%.
In other Verizon Communications news, EVP Craig L. Silliman sold 1,554 shares of the business’s stock in a transaction on Monday, October 4th. The shares were sold at an average price of $54.45, for a total transaction of $84,615.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders sold 4,662 shares of company stock valued at $252,898. 0.10% of the stock is owned by company insiders.
Verizon Communications Profile
Verizon Communications, Inc is a holding company, which engages in the provision of communications, information, and entertainment products and services to consumers, businesses, and governmental agencies. It operates through the Verizon Consumer Group (Consumer) and Verizon Business Group (Business) segments.
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