Verizon Communications Inc. (VZ) Shares Sold by Capital City Trust Co. FL
Capital City Trust Co. FL decreased its holdings in Verizon Communications Inc. (NYSE:VZ) by 1.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 59,883 shares of the cell phone carrier’s stock after selling 1,178 shares during the quarter. Verizon Communications makes up about 1.0% of Capital City Trust Co. FL’s investment portfolio, making the stock its 26th largest position. Capital City Trust Co. FL’s holdings in Verizon Communications were worth $2,674,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of VZ. Farmers & Merchants Investments Inc. raised its position in Verizon Communications by 2.0% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 248,505 shares of the cell phone carrier’s stock valued at $12,115,000 after purchasing an additional 4,911 shares during the last quarter. Lodestar Investment Counsel LLC IL raised its position in Verizon Communications by 2.0% in the 1st quarter. Lodestar Investment Counsel LLC IL now owns 210,495 shares of the cell phone carrier’s stock valued at $10,262,000 after purchasing an additional 4,169 shares during the last quarter. Capital Investment Advisors LLC raised its position in Verizon Communications by 12.8% in the 1st quarter. Capital Investment Advisors LLC now owns 178,962 shares of the cell phone carrier’s stock valued at $8,724,000 after purchasing an additional 20,251 shares during the last quarter. Mascoma Wealth Management LLC raised its position in Verizon Communications by 10.5% in the 1st quarter. Mascoma Wealth Management LLC now owns 4,227 shares of the cell phone carrier’s stock valued at $206,000 after purchasing an additional 403 shares during the last quarter. Finally, First Financial Corp IN raised its position in Verizon Communications by 21.2% in the 1st quarter. First Financial Corp IN now owns 30,687 shares of the cell phone carrier’s stock valued at $1,496,000 after purchasing an additional 5,373 shares during the last quarter. Hedge funds and other institutional investors own 62.24% of the company’s stock.
Verizon Communications Inc. (VZ) opened at 48.35 on Friday. Verizon Communications Inc. has a 1-year low of $42.80 and a 1-year high of $54.83. The firm has a market capitalization of $197.24 billion, a PE ratio of 12.43 and a beta of 0.56. The firm has a 50-day moving average price of $48.48 and a 200-day moving average price of $47.05.
Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Thursday, July 27th. The cell phone carrier reported $0.96 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.96. Verizon Communications had a return on equity of 63.06% and a net margin of 12.88%. The firm had revenue of $30.55 billion during the quarter, compared to analyst estimates of $29.84 billion. During the same period last year, the company posted $0.94 EPS. The business’s quarterly revenue was up .1% on a year-over-year basis. Equities analysts expect that Verizon Communications Inc. will post $3.76 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th will be given a $0.59 dividend. The ex-dividend date of this dividend is Friday, October 6th. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.58. This represents a $2.36 annualized dividend and a dividend yield of 4.88%. Verizon Communications’s dividend payout ratio (DPR) is 60.51%.
Several equities analysts have issued reports on VZ shares. TheStreet upgraded Verizon Communications from a “c+” rating to a “b-” rating in a research report on Tuesday, August 8th. Vetr upgraded Verizon Communications from a “hold” rating to a “buy” rating and set a $47.44 price objective for the company in a research report on Wednesday, June 21st. Bank of America Corporation reiterated a “buy” rating on shares of Verizon Communications in a research report on Saturday, June 17th. Barclays PLC cut their price objective on Verizon Communications from $49.00 to $47.00 and set an “equal weight” rating for the company in a research report on Friday, July 14th. Finally, Cowen and Company reiterated a “hold” rating and issued a $49.00 price objective on shares of Verizon Communications in a research report on Wednesday, July 19th. Two investment analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Verizon Communications has an average rating of “Hold” and an average price target of $52.86.
In other news, EVP Craig L. Silliman sold 610 shares of Verizon Communications stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $48.65, for a total value of $29,676.50. Following the completion of the transaction, the executive vice president now directly owns 7,209 shares of the company’s stock, valued at approximately $350,717.85. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last three months, insiders sold 1,830 shares of company stock valued at $88,828. Corporate insiders own 0.13% of the company’s stock.
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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