KLCM Advisors Inc. grew its position in Verizon Communications Inc. (NYSE:VZ) by 6.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 408,657 shares of the cell phone carrier’s stock after purchasing an additional 23,174 shares during the period. Verizon Communications makes up 5.0% of KLCM Advisors Inc.’s holdings, making the stock its 6th largest position. KLCM Advisors Inc.’s holdings in Verizon Communications were worth $18,251,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in VZ. Franklin Parlapiano Turner & Welch LLC acquired a new position in shares of Verizon Communications in the first quarter valued at about $136,000. American Beacon Advisors Inc. purchased a new stake in shares of Verizon Communications in the first quarter worth about $140,000. Proficio Capital Partners LLC boosted its stake in shares of Verizon Communications by 139.8% in the first quarter. Proficio Capital Partners LLC now owns 3,158 shares of the cell phone carrier’s stock worth $142,000 after buying an additional 1,841 shares during the last quarter. Private Vista LLC boosted its stake in shares of Verizon Communications by 3,339.1% in the second quarter. Private Vista LLC now owns 389,552 shares of the cell phone carrier’s stock worth $143,000 after buying an additional 378,225 shares during the last quarter. Finally, Regal Wealth Group Inc. boosted its stake in shares of Verizon Communications by 0.7% in the second quarter. Regal Wealth Group Inc. now owns 3,682 shares of the cell phone carrier’s stock worth $164,000 after buying an additional 24 shares during the last quarter. 63.37% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have recently commented on VZ. Instinet upped their target price on Verizon Communications from $47.00 to $61.00 and gave the stock a “buy” rating in a research note on Tuesday. Nomura upgraded Verizon Communications from a “neutral” rating to a “buy” rating and upped their target price for the stock from $47.00 to $61.00 in a research note on Tuesday. Moffett Nathanson restated a “buy” rating on shares of Verizon Communications in a research note on Thursday, October 12th. ValuEngine upgraded Verizon Communications from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Finally, Cowen restated a “hold” rating and issued a $52.00 target price on shares of Verizon Communications in a research note on Tuesday, September 19th. Two investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $52.43.
In other news, EVP Craig L. Silliman sold 610 shares of the firm’s stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $49.23, for a total value of $30,030.30. Following the transaction, the executive vice president now owns 6,599 shares in the company, valued at $324,868.77. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 1,830 shares of company stock worth $88,609. Company insiders own 0.13% of the company’s stock.
Shares of Verizon Communications Inc. (NYSE VZ) traded up $1.22 during mid-day trading on Tuesday, reaching $53.06. The company’s stock had a trading volume of 14,340,000 shares, compared to its average volume of 18,310,000. The stock has a market capitalization of $216,480.00, a P/E ratio of 13.62, a P/E/G ratio of 4.80 and a beta of 0.57. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 4.05. Verizon Communications Inc. has a 52 week low of $42.80 and a 52 week high of $54.83.
Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Thursday, October 19th. The cell phone carrier reported $0.98 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.98. The company had revenue of $31.70 billion for the quarter, compared to the consensus estimate of $31.45 billion. Verizon Communications had a return on equity of 58.66% and a net margin of 12.80%. Verizon Communications’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.01 earnings per share. equities research analysts anticipate that Verizon Communications Inc. will post 3.77 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th will be given a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $2.36 annualized dividend and a dividend yield of 4.45%. Verizon Communications’s dividend payout ratio (DPR) is presently 60.51%.
Verizon Communications Company Profile
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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