Verizon Communications Inc. (VZ) Shares Bought by Bbva Compass Bancshares Inc.
Bbva Compass Bancshares Inc. lifted its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 18.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 87,519 shares of the cell phone carrier’s stock after acquiring an additional 13,865 shares during the quarter. Bbva Compass Bancshares Inc.’s holdings in Verizon Communications were worth $3,909,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of the stock. Parkside Financial Bank & Trust grew its holdings in Verizon Communications by 2.6% during the second quarter. Parkside Financial Bank & Trust now owns 9,511 shares of the cell phone carrier’s stock valued at $425,000 after purchasing an additional 244 shares during the period. Probity Advisors Inc. grew its holdings in Verizon Communications by 0.6% during the second quarter. Probity Advisors Inc. now owns 34,994 shares of the cell phone carrier’s stock valued at $1,563,000 after purchasing an additional 199 shares during the period. Alpha Cubed Investments LLC grew its holdings in Verizon Communications by 11.4% during the second quarter. Alpha Cubed Investments LLC now owns 270,901 shares of the cell phone carrier’s stock valued at $12,098,000 after purchasing an additional 27,805 shares during the period. DT Investment Partners LLC grew its holdings in Verizon Communications by 21.4% during the second quarter. DT Investment Partners LLC now owns 37,864 shares of the cell phone carrier’s stock valued at $1,691,000 after purchasing an additional 6,687 shares during the period. Finally, Schnieders Capital Management LLC grew its holdings in Verizon Communications by 0.4% during the second quarter. Schnieders Capital Management LLC now owns 87,849 shares of the cell phone carrier’s stock valued at $3,923,000 after purchasing an additional 326 shares during the period. 62.24% of the stock is owned by institutional investors.
In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of the stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $48.65, for a total transaction of $29,676.50. Following the completion of the transaction, the executive vice president now owns 7,209 shares of the company’s stock, valued at approximately $350,717.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 1,830 shares of company stock valued at $88,828 in the last three months. Insiders own 0.13% of the company’s stock.
Several equities analysts have weighed in on the company. TheStreet raised Verizon Communications from a “c+” rating to a “b-” rating in a report on Tuesday, August 8th. Bank of America Corporation reduced their price objective on Verizon Communications from $59.00 to $50.00 and set a “buy” rating for the company in a report on Thursday, July 13th. Cowen and Company reissued a “hold” rating and set a $52.00 price objective on shares of Verizon Communications in a report on Friday, July 28th. Robert W. Baird reissued a “hold” rating and set a $49.00 price objective on shares of Verizon Communications in a report on Wednesday, October 4th. Finally, Barclays PLC reduced their price objective on Verizon Communications from $49.00 to $47.00 and set an “equal weight” rating for the company in a report on Friday, July 14th. Two 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 issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $52.86.
Shares of Verizon Communications Inc. (NYSE:VZ) opened at 47.86 on Monday. The firm’s 50-day moving average price is $48.46 and its 200-day moving average price is $47.01. The stock has a market cap of $195.24 billion, a P/E ratio of 12.30 and a beta of 0.56. Verizon Communications Inc. has a 52-week low of $42.80 and a 52-week high of $54.83.
Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Thursday, July 27th. The cell phone carrier reported $0.96 EPS for the quarter, meeting the consensus estimate of $0.96. Verizon Communications had a net margin of 12.88% and a return on equity of 63.06%. The business had revenue of $30.55 billion during the quarter, compared to the consensus estimate of $29.84 billion. During the same quarter in the prior year, the firm earned $0.94 EPS. The business’s revenue was up .1% on a year-over-year basis. Equities analysts predict that Verizon Communications Inc. will post $3.76 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th will be issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 4.93%. The ex-dividend date of this dividend is Friday, October 6th. This is an increase from Verizon Communications’s previous quarterly dividend of $0.58. Verizon Communications’s dividend payout ratio is 60.51%.
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Verizon Communications Company Profile
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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