Verizon Communications Inc. (VZ) Stake Maintained by Amica Retiree Medical Trust
Amica Retiree Medical Trust maintained its position in Verizon Communications Inc. (NYSE:VZ) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,332 shares of the cell phone carrier’s stock at the end of the second quarter. Verizon Communications comprises about 1.0% of Amica Retiree Medical Trust’s portfolio, making the stock its 12th largest position. Amica Retiree Medical Trust’s holdings in Verizon Communications were worth $1,191,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in VZ. Lowe fs LLC boosted its stake in Verizon Communications by 0.8% in the second quarter. Lowe fs LLC now owns 2,356 shares of the cell phone carrier’s stock valued at $132,000 after buying an additional 19 shares during the period. First National Bank Sioux Falls boosted its stake in Verizon Communications by 8.7% in the second quarter. First National Bank Sioux Falls now owns 3,408 shares of the cell phone carrier’s stock valued at $190,000 after buying an additional 272 shares during the period. Fenimore Asset Management Inc. bought a new stake in Verizon Communications during the second quarter valued at about $202,000. Independence Advisors LLC bought a new stake in Verizon Communications during the second quarter valued at about $203,000. Finally, Portfolio Solutions LLC bought a new stake in Verizon Communications during the second quarter valued at about $205,000. 63.47% of the stock is owned by hedge funds and other institutional investors.
Verizon Communications Inc. (NYSE:VZ) traded up 1.17% during trading on Wednesday, reaching $51.87. 14,434,003 shares of the company’s stock traded hands. Verizon Communications Inc. has a one year low of $42.20 and a one year high of $56.95. The stock has a market cap of $211.44 billion, a P/E ratio of 14.65 and a beta of 0.26. The firm’s 50 day moving average price is $52.81 and its 200-day moving average price is $52.85.
Verizon Communications (NYSE:VZ) last announced its earnings results on Tuesday, July 26th. The cell phone carrier reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.02. The business had revenue of $30.53 billion for the quarter, compared to analysts’ expectations of $30.95 billion. Verizon Communications had a net margin of 11.10% and a return on equity of 87.41%. The company’s quarterly revenue was down 5.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.04 EPS. On average, equities analysts anticipate that Verizon Communications Inc. will post $3.89 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Friday, October 7th will be issued a $0.0125 dividend. The ex-dividend date is Wednesday, October 5th. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.10%. Verizon Communications’s payout ratio is 63.84%.
VZ has been the subject of several research reports. Drexel Hamilton reissued a “hold” rating on shares of Verizon Communications in a research report on Tuesday, May 24th. Vetr cut shares of Verizon Communications from a “strong-buy” rating to a “buy” rating and set a $56.36 price objective for the company. in a research report on Monday, May 30th. Jefferies Group reissued a “hold” rating and issued a $53.00 price objective on shares of Verizon Communications in a research report on Saturday, June 4th. Morgan Stanley restated a “buy” rating on shares of Verizon Communications in a report on Monday, June 6th. Finally, Bank of America Corp. restated a “buy” rating on shares of Verizon Communications in a report on Wednesday, June 8th. Twenty-three analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $54.50.
In other news, EVP Craig L. Silliman sold 672 shares of Verizon Communications stock in a transaction on Friday, August 26th. The shares were sold at an average price of $52.76, for a total value of $35,454.72. Following the transaction, the executive vice president now directly owns 10,526 shares of the company’s stock, valued at approximately $555,351.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.10% of the stock is currently owned by insiders.
About Verizon Communications
Verizon Communications Inc (Verizon) is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. The Company offers voice, data and video services and solutions on its wireless and wireline networks.
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