Alps Advisors Inc. increased its position in shares of Verizon Communications Inc. (NYSE:VZ) by 5.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,018,021 shares of the cell phone carrier’s stock after acquiring an additional 50,602 shares during the period. Alps Advisors Inc.’s holdings in Verizon Communications were worth $45,465,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently bought and sold shares of the company. Franklin Parlapiano Turner & Welch LLC bought a new stake in Verizon Communications during the 1st quarter worth approximately $136,000. American Beacon Advisors Inc. bought a new stake in Verizon Communications during the 1st quarter worth approximately $140,000. Proficio Capital Partners LLC increased its holdings in Verizon Communications by 139.8% during the 1st quarter. Proficio Capital Partners LLC now owns 3,158 shares of the cell phone carrier’s stock worth $142,000 after acquiring an additional 1,841 shares during the period. Camarda Financial Advisors LLC increased its holdings in Verizon Communications by 11.3% during the 2nd quarter. Camarda Financial Advisors LLC now owns 3,749 shares of the cell phone carrier’s stock worth $167,000 after acquiring an additional 382 shares during the period. Finally, Asset Advisors Corp increased its holdings in Verizon Communications by 2.5% during the 2nd quarter. Asset Advisors Corp now owns 4,085 shares of the cell phone carrier’s stock worth $182,000 after acquiring an additional 100 shares during the period. 62.05% of the stock is currently owned by institutional investors and hedge funds.
In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of the company’s stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $49.23, for a total value of $30,030.30. Following the completion of the transaction, the executive vice president now directly owns 6,599 shares in the company, valued at approximately $324,868.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 1,830 shares of company stock valued at $89,365 over the last 90 days. Company insiders own 0.13% of the company’s stock.
VZ has been the topic of a number of research analyst reports. Cowen and Company reissued a “hold” rating and issued a $49.00 price target on shares of Verizon Communications in a report on Wednesday, July 19th. Royal Bank Of Canada increased their price target on shares of Verizon Communications from $48.00 to $50.00 and gave the stock a “sector perform” rating in a report on Monday, July 31st. BidaskClub raised shares of Verizon Communications from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. TheStreet raised shares of Verizon Communications from a “c+” rating to a “b-” rating in a report on Tuesday, August 8th. Finally, Robert W. Baird reissued a “hold” rating and issued a $49.00 price target on shares of Verizon Communications in a report on Wednesday, October 4th. Two research analysts have rated the stock with a sell rating, twenty have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Verizon Communications presently has a consensus rating of “Hold” and an average price target of $52.75.
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Verizon Communications Inc. (NYSE:VZ) opened at $44.88 on Monday. The company has a debt-to-equity ratio of 4.05, a current ratio of 1.07 and a quick ratio of 1.02. Verizon Communications Inc. has a 1-year low of $42.80 and a 1-year high of $54.83. The company has a market cap of $183,085.31, a price-to-earnings ratio of 11.97, a price-to-earnings-growth ratio of 4.22 and a beta of 0.55.
Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Thursday, October 19th. The cell phone carrier reported $0.98 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.98. Verizon Communications had a net margin of 12.80% and a return on equity of 58.66%. The business had revenue of $31.70 billion during the quarter, compared to analyst estimates of $31.45 billion. During the same period in the prior year, the business earned $1.01 EPS. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. sell-side analysts predict that Verizon Communications Inc. will post 3.77 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th were issued a $0.59 dividend. The ex-dividend date was Friday, October 6th. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.58. This represents a $2.36 annualized dividend and a yield of 5.26%. Verizon Communications’s dividend payout ratio is 60.51%.
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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