Cobblestone Capital Advisors LLC NY Lowers Position in Verizon Communications Inc. (VZ)
Cobblestone Capital Advisors LLC NY lowered its position in Verizon Communications Inc. (NYSE:VZ) by 1.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,046 shares of the cell phone carrier’s stock after selling 355 shares during the period. Cobblestone Capital Advisors LLC NY’s holdings in Verizon Communications were worth $851,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in VZ. Oakmont Partners LLC lifted its stake in Verizon Communications by 0.3% in the 2nd 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. lifted its stake in shares of Verizon Communications by 0.5% during the 2nd quarter. Conservest Capital Advisors Inc. now owns 5,024 shares of the cell phone carrier’s stock worth $224,000 after purchasing an additional 23 shares during the period. Nottingham Advisors Inc. lifted its stake in shares of Verizon Communications by 0.5% during the 2nd quarter. Nottingham Advisors Inc. now owns 6,425 shares of the cell phone carrier’s stock worth $287,000 after purchasing an additional 35 shares during the period. Camden National Bank lifted its stake in shares of Verizon Communications by 0.7% during the 2nd quarter. Camden National Bank now owns 4,972 shares of the cell phone carrier’s stock worth $222,000 after purchasing an additional 37 shares during the period. Finally, One Capital Management LLC lifted its stake in shares of Verizon Communications by 0.6% during the 1st quarter. One Capital Management LLC now owns 8,702 shares of the cell phone carrier’s stock worth $424,000 after purchasing an additional 56 shares during the period. Institutional investors and hedge funds own 63.19% of the company’s stock.
Verizon Communications Inc. (NYSE:VZ) opened at $47.10 on Thursday. 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 twelve month low of $42.80 and a twelve month high of $54.83. The stock has a market cap of $192,140.00, a PE ratio of 12.32, a price-to-earnings-growth ratio of 4.34 and a beta of 0.55.
Verizon Communications (NYSE:VZ) last issued its 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 net margin of 12.80% and a return on equity of 58.66%. The firm had revenue of $31.70 billion for the quarter, compared to analysts’ expectations of $31.45 billion. During the same quarter last year, the company posted $1.01 earnings per share. Verizon Communications’s revenue was up 2.5% on a year-over-year basis. equities analysts expect that Verizon Communications Inc. will post 3.77 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th were issued a $0.59 dividend. The ex-dividend date was Friday, October 6th. This represents a $2.36 dividend on an annualized basis and a yield of 5.01%. This is a boost 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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In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of the firm’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $48.62, for a total value of $29,658.20. Following the transaction, the executive vice president now owns 5,989 shares of the company’s stock, valued at $291,185.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 1,830 shares of company stock worth $89,365 in the last three months. 0.13% of the stock is currently owned by corporate insiders.
VZ has been the topic of a number of recent analyst reports. TheStreet raised Verizon Communications from a “c+” rating to a “b-” rating in a research note on Tuesday, August 8th. Moffett Nathanson reissued a “buy” rating on shares of Verizon Communications in a research note on Thursday, October 12th. Bank of America Corporation set a $52.00 price target on Verizon Communications and gave the stock a “buy” rating in a research note on Friday, October 20th. ValuEngine raised Verizon Communications from a “hold” rating to a “buy” rating in a research note on Monday, October 23rd. Finally, Macquarie reissued a “hold” rating and set a $52.00 price target on shares of Verizon Communications in a research note on Sunday, October 22nd. Two investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $51.25.
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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