CENTRAL TRUST Co Buys 19,737 Shares of Verizon Communications Inc. (VZ)
CENTRAL TRUST Co boosted its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 6.9% during the third quarter, Holdings Channel reports. The firm owned 305,134 shares of the cell phone carrier’s stock after buying an additional 19,737 shares during the period. Verizon Communications accounts for about 1.2% of CENTRAL TRUST Co’s investment portfolio, making the stock its 16th largest position. CENTRAL TRUST Co’s holdings in Verizon Communications were worth $15,861,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the stock. Taylor Wealth Management Partners raised its position in shares of 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 last quarter. Lowe fs LLC raised its position in shares of Verizon Communications by 0.8% in the second quarter. Lowe fs LLC now owns 2,356 shares of the cell phone carrier’s stock worth $132,000 after buying an additional 19 shares during the last quarter. Daiwa SB Investments Ltd. raised its position in shares of Verizon Communications by 11,938.5% in the third quarter. Daiwa SB Investments Ltd. now owns 3,130 shares of the cell phone carrier’s stock worth $163,000 after buying an additional 3,104 shares during the last quarter. First National Bank Sioux Falls raised its position in shares of 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 worth $190,000 after buying an additional 272 shares during the last quarter. Finally, Fenimore Asset Management Inc. bought a new position in shares of Verizon Communications during the second quarter worth $202,000. 62.41% of the stock is owned by institutional investors.
Verizon Communications Inc. (NYSE:VZ) traded down 0.245% during trading on Tuesday, hitting $50.995. 4,347,903 shares of the stock traded hands. The company has a 50-day moving average price of $48.57 and a 200-day moving average price of $51.88. The stock has a market cap of $207.89 billion, a PE ratio of 14.863 and a beta of 0.38. Verizon Communications Inc. has a 12 month low of $43.79 and a 12 month high of $56.95.
Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Thursday, October 20th. The cell phone carrier reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.02. Verizon Communications had a net margin of 10.97% and a return on equity of 78.75%. The company had revenue of $30.90 billion for the quarter, compared to analyst estimates of $31.08 billion. During the same quarter in the previous year, the firm posted $1.04 earnings per share. The company’s quarterly revenue was down 6.7% compared to the same quarter last year. Equities research analysts expect that Verizon Communications Inc. will post $3.90 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 1st. Stockholders of record on Friday, October 7th were given a $0.0125 dividend. This represents a $0.05 annualized dividend and a dividend yield of 0.10%. The ex-dividend date of this dividend was Wednesday, October 5th. Verizon Communications’s dividend payout ratio (DPR) is currently 67.15%.
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A number of brokerages recently weighed in on VZ. Imperial Capital lowered shares of Verizon Communications from an “outperform” rating to an “in-line” rating and upped their target price for the stock from $50.00 to $60.00 in a research note on Tuesday, August 2nd. Vetr restated a “buy” rating on shares of Verizon Communications in a research note on Wednesday, August 10th. Jefferies Group restated a “hold” rating on shares of Verizon Communications in a research note on Saturday, August 6th. Barclays PLC restated an “equal weight” rating and set a $52.00 price objective on shares of Verizon Communications in a research note on Friday, August 26th. Finally, Nomura restated a “hold” rating and set a $47.00 price objective on shares of Verizon Communications in a research note on Monday, September 12th. One analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $54.61.
In related news, EVP Craig L. Silliman sold 672 shares of the company’s stock in a transaction that occurred on Wednesday, October 26th. The shares were sold at an average price of $47.76, for a total transaction of $32,094.72. Following the sale, the executive vice president now owns 9,182 shares of the company’s stock, valued at approximately $438,532.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Craig L. Silliman sold 668 shares of the company’s stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $49.29, for a total transaction of $32,925.72. Following the sale, the executive vice president now directly owns 6,047 shares in the company, valued at approximately $298,056.63. The disclosure for this sale can be found here. 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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