Verizon Communications Inc. (VZ) Shares Bought by Noesis Capital Mangement Corp
Noesis Capital Mangement Corp raised its position in shares of Verizon Communications Inc. (NYSE:VZ) by 2.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,523 shares of the cell phone carrier’s stock after buying an additional 203 shares during the period. Noesis Capital Mangement Corp’s holdings in Verizon Communications were worth $420,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Taylor Wealth Management Partners raised its position in Verizon Communications by 15.2% in the second quarter. Taylor Wealth Management Partners now owns 2,275 shares of the cell phone carrier’s stock worth $127,000 after buying an additional 300 shares during the period. Lowe fs LLC raised its position 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 last quarter. First National Bank Sioux Falls raised its position 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 last quarter. Fenimore Asset Management Inc. purchased a new position in Verizon Communications during the second quarter valued at approximately $202,000. Finally, Independence Advisors LLC purchased a new position in Verizon Communications during the second quarter valued at approximately $203,000. 63.47% of the stock is owned by hedge funds and other institutional investors.
Shares of Verizon Communications Inc. (NYSE:VZ) traded down 0.68% on Friday, reaching $49.92. The company’s stock had a trading volume of 13,816,797 shares. Verizon Communications Inc. has a 1-year low of $43.79 and a 1-year high of $56.95. The stock has a 50-day moving average price of $52.09 and a 200-day moving average price of $52.74. The company has a market capitalization of $203.49 billion, a price-to-earnings ratio of 14.10 and a beta of 0.30.
Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Tuesday, July 26th. The cell phone carrier reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.02. The company had revenue of $30.53 billion for the quarter, compared to analyst estimates of $30.95 billion. Verizon Communications had a return on equity of 87.41% and a net margin of 11.10%. Verizon Communications’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.04 EPS. On average, equities research analysts forecast that Verizon Communications Inc. will post $3.89 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, October 7th will be given a $0.0125 dividend. This represents a $0.05 dividend on an annualized basis and a yield of 0.10%. The ex-dividend date is Wednesday, October 5th. Verizon Communications’s dividend payout ratio is currently 65.25%.
Several research firms have commented on VZ. Argus reaffirmed a “buy” rating on shares of Verizon Communications in a research note on Sunday, June 12th. Jefferies Group reaffirmed a “hold” rating on shares of Verizon Communications in a research note on Saturday, August 6th. Deutsche Bank AG reaffirmed a “hold” rating and set a $52.00 price objective on shares of Verizon Communications in a research note on Friday, July 15th. Zacks Investment Research lowered shares of Verizon Communications from a “hold” rating to a “sell” rating in a research note on Monday, June 27th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Verizon Communications from $50.00 to $56.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 27th. Twenty-four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $54.44.
In other Verizon Communications news, EVP Craig L. Silliman sold 672 shares of the stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $52.76, for a total value of $35,454.72. Following the sale, the executive vice president now owns 10,526 shares of the company’s stock, valued at approximately $555,351.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.10% of the stock is owned by company insiders.
Verizon Communications Company Profile
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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