Smith Chas P & Associates PA Cpas raised its position in shares of Verizon Communications Inc. (NYSE:VZ) by 9.6% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 405,633 shares of the cell phone carrier’s stock after purchasing an additional 35,403 shares during the quarter. Verizon Communications comprises 2.6% of Smith Chas P & Associates PA Cpas’ portfolio, making the stock its 22nd largest holding. Smith Chas P & Associates PA Cpas’ holdings in Verizon Communications were worth $18,116,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in VZ. Whitnell & Co. boosted its position in shares of Verizon Communications by 1.2% in the second quarter. Whitnell & Co. now owns 10,316 shares of the cell phone carrier’s stock worth $461,000 after buying an additional 125 shares during the period. Allegis Investment Advisors LLC raised its holdings in shares of Verizon Communications by 9.0% during the first quarter. Allegis Investment Advisors LLC now owns 59,067 shares of the cell phone carrier’s stock worth $2,880,000 after acquiring an additional 4,898 shares in the last quarter. DekaBank Deutsche Girozentrale raised its holdings in shares of Verizon Communications by 4.6% during the second quarter. DekaBank Deutsche Girozentrale now owns 1,673,761 shares of the cell phone carrier’s stock worth $74,961,000 after acquiring an additional 72,980 shares in the last quarter. Segantii Capital Management Ltd purchased a new stake in shares of Verizon Communications during the first quarter worth $6,094,000. Finally, Canada Pension Plan Investment Board raised its holdings in shares of Verizon Communications by 1.3% during the second quarter. Canada Pension Plan Investment Board now owns 10,704,239 shares of the cell phone carrier’s stock worth $478,051,000 after acquiring an additional 136,700 shares in the last quarter. 63.37% of the stock is owned by institutional investors and hedge funds.
Verizon Communications Inc. (VZ) traded down $0.24 during trading on Wednesday, reaching $50.68. 17,295,547 shares of the company’s stock traded hands, compared to its average volume of 15,646,248. The company has a market cap of $206,580.00, a PE ratio of 13.79, a P/E/G ratio of 4.86 and a beta of 0.57. The company has a debt-to-equity ratio of 4.05, a quick ratio of 1.02 and a current ratio of 1.07. Verizon Communications Inc. has a 52-week low of $42.80 and a 52-week high of $54.83.
Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Thursday, October 19th. The cell phone carrier reported $0.98 earnings per share for the quarter, meeting 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 firm had revenue of $31.70 billion for the quarter, compared to analysts’ expectations of $31.45 billion. During the same period in the prior year, the firm earned $1.01 EPS. The business’s revenue was up 2.5% on a year-over-year basis. equities analysts forecast that Verizon Communications Inc. will post 3.77 EPS for the current year.
Several equities analysts have weighed in on VZ shares. Macquarie restated a “hold” rating and set a $52.00 target price on shares of Verizon Communications in a report on Sunday, October 22nd. SunTrust Banks reiterated a “hold” rating and issued a $50.00 price objective on shares of Verizon Communications in a research note on Friday, October 20th. Moffett Nathanson reiterated a “buy” rating on shares of Verizon Communications in a research note on Thursday, October 12th. Wells Fargo & Company raised Verizon Communications from a “market perform” rating to an “outperform” rating and set a $50.00 target price on the stock in a research report on Monday, November 20th. Finally, Cowen reaffirmed a “hold” rating and set a $52.00 price objective on shares of Verizon Communications in a report on Tuesday, September 19th. Two investment analysts have rated the stock with a sell rating, nineteen have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Verizon Communications presently has an average rating of “Hold” and an average price target of $51.25.
In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of the stock in a transaction that occurred on Monday, November 27th. The shares were 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last 90 days, insiders have sold 1,830 shares of company stock worth $88,609. Company insiders own 0.13% of the company’s stock.
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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