Verizon Communications Inc. (VZ) Shares Bought by Whitnell & Co.
Whitnell & Co. raised its position in shares of Verizon Communications Inc. (NYSE:VZ) by 1.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,316 shares of the cell phone carrier’s stock after purchasing an additional 125 shares during the period. Whitnell & Co.’s holdings in Verizon Communications were worth $461,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of VZ. Franklin Parlapiano Turner & Welch LLC bought a new stake in Verizon Communications during the 1st quarter valued at $136,000. American Beacon Advisors Inc. bought a new stake in Verizon Communications during the 1st quarter valued at $140,000. Proficio Capital Partners LLC raised its position in Verizon Communications by 139.8% during the 1st quarter. Proficio Capital Partners LLC now owns 3,158 shares of the cell phone carrier’s stock valued at $142,000 after purchasing an additional 1,841 shares in the last quarter. Camarda Financial Advisors LLC raised its position in Verizon Communications by 11.3% during the 2nd quarter. Camarda Financial Advisors LLC now owns 3,749 shares of the cell phone carrier’s stock valued at $167,000 after purchasing an additional 382 shares in the last quarter. Finally, Asset Advisors Corp raised its position in Verizon Communications by 2.5% during the 2nd quarter. Asset Advisors Corp now owns 4,085 shares of the cell phone carrier’s stock valued at $182,000 after purchasing an additional 100 shares in the last quarter. 62.22% of the stock is owned by institutional investors and hedge funds.
In related news, EVP Craig L. Silliman sold 610 shares of the firm’s stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $49.23, for a total transaction of $30,030.30. Following the transaction, the executive vice president now owns 6,599 shares of the company’s stock, valued at $324,868.77. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last three months, insiders have sold 1,830 shares of company stock worth $88,828. Corporate insiders own 0.13% of the company’s stock.
VZ has been the subject of a number of research analyst reports. Vetr raised Verizon Communications from a “buy” rating to a “strong-buy” rating and set a $50.65 target price for the company in a research report on Wednesday, July 5th. Royal Bank Of Canada reissued a “hold” rating and issued a $48.00 price target on shares of Verizon Communications in a research report on Sunday, July 9th. Zacks Investment Research raised Verizon Communications from a “sell” rating to a “hold” rating in a research report on Friday, July 7th. BidaskClub raised Verizon Communications from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Finally, Goldman Sachs Group, Inc. (The) reissued a “neutral” rating on shares of Verizon Communications in a research report on Wednesday, June 28th. Two equities research analysts have rated the stock with a sell rating, twenty-one have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $53.10.
Shares of Verizon Communications Inc. (VZ) opened at 49.53 on Monday. The firm’s 50-day moving average price is $48.52 and its 200 day moving average price is $47.03. The stock has a market cap of $202.05 billion, a P/E ratio of 12.73 and a beta of 0.56. Verizon Communications Inc. has a 1-year low of $42.80 and a 1-year high of $54.83.
Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Thursday, October 19th. The cell phone carrier reported $0.98 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.98. Verizon Communications had a return on equity of 58.66% and a net margin of 12.80%. The firm had revenue of $31.70 billion for the quarter, compared to analyst estimates of $31.45 billion. During the same quarter last year, the company posted $1.01 earnings per share. The business’s revenue was up 2.5% on a year-over-year basis. On average, equities analysts expect that Verizon Communications Inc. will post $3.76 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th will be issued a dividend of $0.59 per share. The ex-dividend date is Friday, October 6th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.76%. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.58. Verizon Communications’s dividend payout ratio (DPR) is currently 60.51%.
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Verizon Communications 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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