Capital Management Corp VA Sells 1,485 Shares of Verizon Communications Inc. (VZ)
Capital Management Corp VA decreased its stake in Verizon Communications Inc. (NYSE:VZ) by 2.0% during the third quarter, Holdings Channel reports. The institutional investor owned 74,025 shares of the cell phone carrier’s stock after selling 1,485 shares during the period. Capital Management Corp VA’s holdings in Verizon Communications were worth $3,848,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the company. Lowe fs LLC raised its stake in Verizon Communications by 3.0% in the third quarter. Lowe fs LLC now owns 2,426 shares of the cell phone carrier’s stock worth $126,000 after buying an additional 70 shares during the last quarter. Taylor Wealth Management Partners raised its stake 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 valued at $127,000 after buying an additional 300 shares in the last quarter. Daiwa SB Investments Ltd. raised its stake 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 valued at $163,000 after buying an additional 3,104 shares in the last quarter. First National Bank Sioux Falls raised its stake 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 valued at $190,000 after buying an additional 272 shares in the last quarter. Finally, Fenimore Asset Management Inc. purchased a new stake in shares of Verizon Communications during the second quarter valued at about $202,000. 62.41% of the stock is owned by institutional investors and hedge funds.
Verizon Communications Inc. (NYSE:VZ) traded down 2.08% during mid-day trading on Wednesday, reaching $49.90. 20,685,305 shares of the company’s stock were exchanged. The firm has a market cap of $203.42 billion, a price-to-earnings ratio of 14.54 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. The stock has a 50-day moving average of $48.59 and a 200-day moving average of $51.88.
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, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.02. The business had revenue of $30.90 billion for the quarter, compared to analyst estimates of $31.08 billion. Verizon Communications had a net margin of 10.97% and a return on equity of 78.75%. The firm’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same quarter last year, the business posted $1.04 EPS. Analysts anticipate that Verizon Communications Inc. will post $3.90 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, November 1st. Investors of record on Friday, October 7th were given a dividend of $0.0125 per share. The ex-dividend date of this dividend was Wednesday, October 5th. This represents a $0.05 annualized dividend and a dividend yield of 0.10%. Verizon Communications’s dividend payout ratio is 67.15%.
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Several brokerages recently issued reports on VZ. Imperial Capital lowered Verizon Communications from an “outperform” rating to an “in-line” rating and increased their price objective for the stock from $50.00 to $60.00 in a report on Tuesday, August 2nd. Vetr reiterated a “buy” rating on shares of Verizon Communications in a report on Wednesday, August 10th. Jefferies Group reiterated a “hold” rating on shares of Verizon Communications in a report on Saturday, August 6th. Barclays PLC reiterated an “equal weight” rating and set a $52.00 price objective on shares of Verizon Communications in a report on Friday, August 26th. Finally, Nomura reiterated a “hold” rating and set a $47.00 price objective on shares of Verizon Communications in a report on Monday, September 12th. One analyst has rated the stock with a sell rating, twenty-two have given a hold rating and nine have assigned a buy rating to the company. Verizon Communications has an average rating of “Hold” and a consensus price target of $54.61.
In related news, EVP Craig L. Silliman sold 672 shares of the stock in a transaction that occurred on Wednesday, October 26th. The shares were sold at an average price of $47.76, for a total value of $32,094.72. Following the completion of the transaction, the executive vice president now owns 9,182 shares of the company’s stock, valued at approximately $438,532.32. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Craig L. Silliman sold 668 shares of the stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $49.29, for a total transaction of $32,925.72. Following the completion of the transaction, the executive vice president now directly owns 6,047 shares of the company’s stock, valued at approximately $298,056.63. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.
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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