Private Vista LLC Has $143,000 Stake in Verizon Communications Inc. (VZ)
Private Vista LLC grew its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 3,339.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 389,552 shares of the cell phone carrier’s stock after acquiring an additional 378,225 shares during the quarter. Private Vista LLC’s holdings in Verizon Communications were worth $143,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Whitnell & Co. increased its holdings in Verizon Communications by 1.2% in the 2nd quarter. Whitnell & Co. now owns 10,316 shares of the cell phone carrier’s stock worth $461,000 after buying an additional 125 shares in the last quarter. Allegis Investment Advisors LLC increased its holdings in Verizon Communications by 9.0% in the 1st quarter. Allegis Investment Advisors LLC now owns 59,067 shares of the cell phone carrier’s stock worth $2,880,000 after buying an additional 4,898 shares in the last quarter. Segantii Capital Management Ltd bought a new stake in Verizon Communications in the 1st quarter worth about $6,094,000. Cascade Investment Advisors Inc. increased its holdings in Verizon Communications by 0.4% in the 1st quarter. Cascade Investment Advisors Inc. now owns 33,945 shares of the cell phone carrier’s stock worth $1,655,000 after buying an additional 125 shares in the last quarter. Finally, Carret Asset Management LLC increased its holdings in Verizon Communications by 1.5% in the 1st quarter. Carret Asset Management LLC now owns 177,172 shares of the cell phone carrier’s stock worth $8,637,000 after buying an additional 2,606 shares in the last quarter. Institutional investors own 63.19% of the company’s stock.
In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of Verizon Communications stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $49.23, for a total value of $30,030.30. Following the sale, the executive vice president now owns 6,599 shares of the company’s stock, valued at approximately $324,868.77. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders sold 1,830 shares of company stock worth $89,365. Corporate insiders own 0.13% of the company’s stock.
Several equities research analysts recently commented on VZ shares. TheStreet upgraded Verizon Communications from a “c+” rating to a “b-” rating in a report on Tuesday, August 8th. Moffett Nathanson reissued a “buy” rating on shares of Verizon Communications in a research report on Thursday, October 12th. Bank of America Corporation set a $52.00 target price on Verizon Communications and gave the stock a “buy” rating in a research report on Friday, October 20th. ValuEngine raised Verizon Communications from a “hold” rating to a “buy” rating in a research report on Monday, October 23rd. Finally, Macquarie reissued a “hold” rating and issued a $52.00 target price on shares of Verizon Communications in a research report on Sunday, October 22nd. Two analysts have rated the stock with a sell rating, twenty have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $52.75.
Shares of Verizon Communications Inc. (VZ) opened at $45.42 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 4.05. Verizon Communications Inc. has a 12 month low of $42.80 and a 12 month high of $54.83. The stock has a market capitalization of $185,288.20, a P/E ratio of 12.11, a price-to-earnings-growth ratio of 4.27 and a beta of 0.55.
Verizon Communications (NYSE:VZ) last released its quarterly earnings data 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 business had revenue of $31.70 billion for the quarter, compared to the consensus estimate of $31.45 billion. During the same quarter in the previous year, the company posted $1.01 EPS. The company’s revenue was up 2.5% compared to the same quarter last year. sell-side analysts expect that Verizon Communications Inc. will post 3.77 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th were paid a $0.59 dividend. This is an increase from Verizon Communications’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Friday, October 6th. This represents a $2.36 dividend on an annualized basis and a yield of 5.20%. Verizon Communications’s payout ratio is presently 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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