Hugh Johnson Advisors LLC Increases Position in Verizon Communications Inc. (VZ)
Hugh Johnson Advisors LLC boosted its position in shares of Verizon Communications Inc. (NYSE:VZ) by 1.2% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 55,485 shares of the cell phone carrier’s stock after buying an additional 642 shares during the period. Hugh Johnson Advisors LLC’s holdings in Verizon Communications were worth $3,098,000 as of its most recent filing with the SEC.
Other large investors have also recently made changes to their positions in the company. Stokes & Hubbell Capital Management LLC boosted its stake in shares of Verizon Communications by 12.4% in the first quarter. Stokes & Hubbell Capital Management LLC now owns 41,928 shares of the cell phone carrier’s stock valued at $2,267,000 after buying an additional 4,625 shares in the last quarter. Raymond James Trust N.A. boosted its stake in shares of Verizon Communications by 4.2% in the first quarter. Raymond James Trust N.A. now owns 275,683 shares of the cell phone carrier’s stock valued at $14,908,000 after buying an additional 11,019 shares in the last quarter. Moreno Evelyn V boosted its stake in shares of Verizon Communications by 3.3% in the first quarter. Moreno Evelyn V now owns 98,761 shares of the cell phone carrier’s stock valued at $5,341,000 after buying an additional 3,175 shares in the last quarter. Rosenbaum Jay D. bought a new stake in shares of Verizon Communications during the first quarter valued at $551,000. Finally, Cohen Lawrence B boosted its stake in shares of Verizon Communications by 13.1% in the first quarter. Cohen Lawrence B now owns 52,575 shares of the cell phone carrier’s stock valued at $2,843,000 after buying an additional 6,110 shares in the last quarter. Institutional investors and hedge funds own 63.47% of the company’s stock.
Shares of Verizon Communications Inc. (NYSE:VZ) traded down 0.40% on Thursday, reaching $50.10. The company’s stock had a trading volume of 4,781,913 shares. The firm has a 50 day moving average price of $51.88 and a 200-day moving average price of $52.67. The stock has a market cap of $204.22 billion, a PE ratio of 14.15 and a beta of 0.30. Verizon Communications Inc. has a 12-month low of $43.79 and a 12-month high of $56.95.
Verizon Communications (NYSE:VZ) last issued its earnings results on Tuesday, July 26th. The cell phone carrier reported $0.94 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.02. The business earned $30.53 billion during 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 was down 5.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.04 EPS. Equities research analysts expect that Verizon Communications Inc. will post $3.89 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, October 7th will be given a dividend of $0.0125 per share. 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 (DPR) is presently 65.25%.
Several research analysts have recently commented on VZ shares. Jefferies Group reissued a “hold” rating on shares of Verizon Communications in a report on Monday, September 19th. Vetr lowered Verizon Communications from a “strong-buy” rating to a “buy” rating and set a $58.40 price objective for the company. in a report on Thursday, September 22nd. Drexel Hamilton reissued an “in-line” rating on shares of Verizon Communications in a report on Wednesday, July 27th. Oppenheimer Holdings Inc. lowered Verizon Communications from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 20th. They noted that the move was a valuation call. Finally, Imperial Capital lowered Verizon Communications from an “outperform” rating to an “in-line” rating and boosted their price objective for the stock from $50.00 to $60.00 in a report on Tuesday, August 2nd. Twenty-four equities research analysts have rated the stock with a hold rating and nine have issued 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 Verizon Communications stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $54.81, for a total transaction of $36,832.32. Following the completion of the sale, the executive vice president now directly owns 11,198 shares of the company’s stock, valued at approximately $613,762.38. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.10% of the company’s stock.
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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