Rathbone Brothers plc cut its stake in Verizon Communications Inc. (NYSE:VZ) by 5.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,329,445 shares of the cell phone carrier’s stock after selling 81,388 shares during the period. Verizon Communications comprises about 2.9% of Rathbone Brothers plc’s investment portfolio, making the stock its 5th largest position. Rathbone Brothers plc’s holdings in Verizon Communications were worth $65,794,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of VZ. Private Vista LLC lifted its position in shares of Verizon Communications by 3,339.1% during the second quarter. Private Vista LLC now owns 389,552 shares of the cell phone carrier’s stock valued at $143,000 after buying an additional 378,225 shares during the last quarter. Mountain Capital Investment Advisors Inc purchased a new stake in shares of Verizon Communications during the second quarter valued at about $156,000. Regal Wealth Group Inc. lifted its position in shares of Verizon Communications by 0.7% during the second quarter. Regal Wealth Group Inc. now owns 3,682 shares of the cell phone carrier’s stock valued at $164,000 after buying an additional 24 shares during the last quarter. Camarda Financial Advisors LLC lifted its position in shares of Verizon Communications by 11.3% during the second quarter. Camarda Financial Advisors LLC now owns 3,749 shares of the cell phone carrier’s stock valued at $167,000 after buying an additional 382 shares during the last quarter. Finally, Atlantic Trust LLC lifted its position in shares of Verizon Communications by 9.9% during the second quarter. Atlantic Trust LLC now owns 11,164 shares of the cell phone carrier’s stock valued at $170,000 after buying an additional 1,005 shares during the last quarter. Hedge funds and other institutional investors own 63.21% of the company’s stock.
In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of Verizon Communications stock in a transaction on Friday, October 27th. The shares were sold at an average price of $48.62, for a total transaction of $29,658.20. Following the sale, the executive vice president now owns 5,989 shares of the company’s stock, valued at approximately $291,185.18. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.13% of the company’s stock.
Shares of Verizon Communications Inc. (NYSE:VZ) opened at $51.86 on Friday. Verizon Communications Inc. has a one year low of $42.80 and a one year high of $53.69. The stock has a market cap of $211,560.00, a price-to-earnings ratio of 13.30, 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 (NYSE:VZ) last announced its earnings results on Thursday, October 19th. The cell phone carrier reported $0.98 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.98. Verizon Communications had a net margin of 12.80% and a return on equity of 58.66%. The company had revenue of $31.70 billion for the quarter, compared to analysts’ expectations of $31.45 billion. During the same quarter in the previous year, the company posted $1.01 EPS. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. equities analysts expect that Verizon Communications Inc. will post 3.77 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $2.36 annualized dividend and a yield of 4.55%. Verizon Communications’s dividend payout ratio (DPR) is presently 60.51%.
Several analysts have commented on the stock. HSBC lowered shares of Verizon Communications from a “buy” rating to a “hold” rating and decreased their price target for the company from $54.83 to $42.80 in a research report on Thursday, December 14th. They noted that the move was a valuation call. Bank of America set a $52.00 price objective on shares of Verizon Communications and gave the company a “buy” rating in a research report on Friday, October 20th. Robert W. Baird reaffirmed a “hold” rating and issued a $49.00 price objective on shares of Verizon Communications in a research report on Wednesday, October 4th. ValuEngine raised shares of Verizon Communications from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Finally, KeyCorp reaffirmed a “hold” rating on shares of Verizon Communications in a research report on Saturday, October 21st. 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 assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $51.98.
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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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