Ironsides Asset Advisors LLC Has $541,000 Holdings in Verizon Communications Inc. (VZ)
Ironsides Asset Advisors LLC reduced its position in Verizon Communications Inc. (NYSE:VZ) by 17.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,113 shares of the cell phone carrier’s stock after selling 2,600 shares during the period. Ironsides Asset Advisors LLC’s holdings in Verizon Communications were worth $541,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Whitnell & Co. boosted its position in Verizon Communications by 1.2% in the 2nd quarter. Whitnell & Co. now owns 10,316 shares of the cell phone carrier’s stock valued at $461,000 after buying an additional 125 shares during the last quarter. Allegis Investment Advisors LLC boosted its position 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 valued at $2,880,000 after buying an additional 4,898 shares during the last quarter. Segantii Capital Management Ltd purchased a new position in Verizon Communications in the 1st quarter valued at about $6,094,000. DekaBank Deutsche Girozentrale boosted its position in Verizon Communications by 4.6% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,673,761 shares of the cell phone carrier’s stock valued at $74,961,000 after buying an additional 72,980 shares during the last quarter. Finally, Cascade Investment Advisors Inc. boosted its position 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 valued at $1,655,000 after buying an additional 125 shares during the last quarter. 63.19% of the stock is owned by institutional investors.
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Several equities analysts have recently commented on the stock. Wells Fargo & Company raised shares of Verizon Communications from a “market perform” rating to an “outperform” rating and set a $50.00 price target on the stock in a research report on Monday. ValuEngine raised shares of Verizon Communications from a “hold” rating to a “buy” rating in a research report on Monday, October 23rd. Macquarie reaffirmed a “hold” rating and set a $52.00 price target on shares of Verizon Communications in a research report on Sunday, October 22nd. KeyCorp reaffirmed a “hold” rating on shares of Verizon Communications in a research report on Saturday, October 21st. Finally, Bank of America Corporation set a $52.00 price target on shares of Verizon Communications and gave the stock a “buy” rating in a research report on Friday, October 20th. Two equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Verizon Communications currently has a consensus rating of “Hold” and a consensus price target of $51.25.
Shares of Verizon Communications Inc. (NYSE VZ) opened at $47.10 on Friday. The firm has a market cap of $192,141.66, a PE ratio of 12.56, a P/E/G ratio of 4.43 and a beta of 0.55. Verizon Communications Inc. has a 12 month low of $42.80 and a 12 month high of $54.83. The company has a debt-to-equity ratio of 4.05, a quick ratio of 1.02 and a current ratio of 1.07.
Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Thursday, October 19th. The cell phone carrier reported $0.98 earnings per share for the quarter, hitting the consensus estimate of $0.98. The firm had revenue of $31.70 billion for the quarter, compared to analyst estimates of $31.45 billion. Verizon Communications had a net margin of 12.80% and a return on equity of 58.66%. Verizon Communications’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.01 earnings per share. analysts expect that Verizon Communications Inc. will post 3.77 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th were paid a dividend of $0.59 per share. This is a positive change 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 annualized dividend and a yield of 5.01%. Verizon Communications’s dividend payout ratio is 60.51%.
In related news, EVP Craig L. Silliman sold 610 shares of the stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $49.23, for a total transaction of $30,030.30. Following the sale, the executive vice president now owns 6,599 shares in the company, valued at $324,868.77. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last quarter, insiders have sold 1,830 shares of company stock worth $89,365. 0.13% of the stock is owned by company insiders.
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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