First National Bank of Omaha Sells 10,455 Shares of Verizon Communications Inc. (VZ)
First National Bank of Omaha reduced its stake in Verizon Communications Inc. (NYSE:VZ) by 2.8% during the second quarter, Holdings Channel reports. The fund owned 363,974 shares of the cell phone carrier’s stock after selling 10,455 shares during the period. Verizon Communications makes up about 1.0% of First National Bank of Omaha’s holdings, making the stock its 17th largest position. First National Bank of Omaha’s holdings in Verizon Communications were worth $16,255,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ronna Sue Cohen raised its position in Verizon Communications by 0.4% in the second quarter. Ronna Sue Cohen now owns 4,832 shares of the cell phone carrier’s stock valued at $216,000 after buying an additional 19 shares during the last quarter. Oakmont Partners LLC raised its position in shares of Verizon Communications by 0.3% in the second quarter. Oakmont Partners LLC now owns 6,391 shares of the cell phone carrier’s stock valued at $285,000 after buying an additional 22 shares in the last quarter. Conservest Capital Advisors Inc. raised its position in shares of Verizon Communications by 0.5% in the second quarter. Conservest Capital Advisors Inc. now owns 5,024 shares of the cell phone carrier’s stock valued at $224,000 after buying an additional 23 shares in the last quarter. Nottingham Advisors Inc. raised its position in shares of Verizon Communications by 0.5% in the second quarter. Nottingham Advisors Inc. now owns 6,425 shares of the cell phone carrier’s stock valued at $287,000 after buying an additional 35 shares in the last quarter. Finally, Cobblestone Capital Advisors LLC NY raised its position in shares of Verizon Communications by 0.3% in the first quarter. Cobblestone Capital Advisors LLC NY now owns 19,401 shares of the cell phone carrier’s stock valued at $946,000 after buying an additional 50 shares in the last quarter. 62.35% of the stock is owned by hedge funds and other institutional investors.
Shares of Verizon Communications Inc. (VZ) traded down 0.2368% during trading on Friday, reaching $47.9063. The company’s stock had a trading volume of 5,229,140 shares. Verizon Communications Inc. has a 52 week low of $42.80 and a 52 week high of $54.83. The company has a 50 day moving average price of $45.48 and a 200 day moving average price of $47.37. The firm has a market capitalization of $195.43 billion, a P/E ratio of 12.3152 and a beta of 0.56.
Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Thursday, July 27th. The cell phone carrier reported $0.96 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.96. Verizon Communications had a return on equity of 63.06% and a net margin of 12.88%. The company had revenue of $30.55 billion for the quarter, compared to analyst estimates of $29.84 billion. During the same quarter in the previous year, the company earned $0.94 EPS. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. On average, equities research analysts expect that Verizon Communications Inc. will post $3.79 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were issued a $0.5775 dividend. This represents a $2.31 dividend on an annualized basis and a yield of 4.81%. The ex-dividend date was Thursday, July 6th. Verizon Communications’s dividend payout ratio is presently 59.23%.
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VZ has been the topic of several recent analyst reports. TheStreet raised Verizon Communications from a “c+” rating to a “b-” rating in a research report on Tuesday. Vetr lowered Verizon Communications from a “strong-buy” rating to a “buy” rating and set a $50.23 target price on the stock. in a research report on Wednesday, May 3rd. Bank of America Corporation reaffirmed a “buy” rating and set a $59.00 target price on shares of Verizon Communications in a research report on Friday, April 28th. Barclays PLC reduced their target price on Verizon Communications from $52.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 13th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $48.00 target price on shares of Verizon Communications in a research report on Friday, April 21st. Two equities research analysts have rated the stock with a sell rating, twenty-two have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $52.73.
In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of Verizon Communications stock in a transaction that occurred on Tuesday, June 27th. The stock was sold at an average price of $45.00, for a total value of $27,450.00. Following the sale, the executive vice president now owns 8,429 shares of the company’s stock, valued at approximately $379,305. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 1,830 shares of company stock worth $84,229 in the last ninety days. 0.13% of the stock is owned by corporate insiders.
About Verizon Communications
Verizon Communications Inc is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. Its segments include Wireless and Wireline. The Wireless segment offers communications products and services, including wireless voice and data services and equipment sales, to consumer, business and government customers across the United States.
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