Verizon Communications Inc. (VZ) Holdings Reduced by Hall Capital Management Co. Inc.
Hall Capital Management Co. Inc. decreased its position in Verizon Communications Inc. (NYSE:VZ) by 3.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 49,398 shares of the cell phone carrier’s stock after selling 1,986 shares during the period. Verizon Communications makes up approximately 2.1% of Hall Capital Management Co. Inc.’s holdings, making the stock its 15th biggest position. Hall Capital Management Co. Inc.’s holdings in Verizon Communications were worth $2,206,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Verizon Communications by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 282,894,542 shares of the cell phone carrier’s stock worth $12,634,070,000 after acquiring an additional 5,837,702 shares during the period. FMR LLC lifted its stake in shares of Verizon Communications by 15.0% in the 2nd quarter. FMR LLC now owns 61,833,096 shares of the cell phone carrier’s stock worth $2,761,466,000 after acquiring an additional 8,077,275 shares during the period. Legal & General Group Plc lifted its stake in shares of Verizon Communications by 3.7% in the 2nd quarter. Legal & General Group Plc now owns 23,859,220 shares of the cell phone carrier’s stock worth $1,065,488,000 after acquiring an additional 848,043 shares during the period. Franklin Resources Inc. lifted its stake in shares of Verizon Communications by 19.9% in the 2nd quarter. Franklin Resources Inc. now owns 21,820,729 shares of the cell phone carrier’s stock worth $974,515,000 after acquiring an additional 3,623,182 shares during the period. Finally, Federated Investors Inc. PA lifted its stake in shares of Verizon Communications by 4.8% in the 2nd quarter. Federated Investors Inc. PA now owns 20,896,007 shares of the cell phone carrier’s stock worth $933,215,000 after acquiring an additional 956,578 shares during the period. Hedge funds and other institutional investors own 63.37% of the company’s stock.
A number of analysts have recently weighed in on the stock. ValuEngine raised shares of Verizon Communications from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Moffett Nathanson reaffirmed a “buy” rating on shares of Verizon Communications in a research note on Thursday, October 12th. Cowen reissued a “hold” rating and set a $52.00 target price on shares of Verizon Communications in a research note on Tuesday, September 19th. KeyCorp reissued a “hold” rating on shares of Verizon Communications in a research note on Wednesday, October 11th. Finally, Robert W. Baird reissued a “hold” rating and set a $49.00 target price on shares of Verizon Communications in a research note on Wednesday, October 4th. Two investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $51.25.
Verizon Communications Inc. (VZ) traded up $0.67 during mid-day trading on Monday, hitting $51.09. 13,639,800 shares of the stock were exchanged, compared to its average volume of 15,623,382. Verizon Communications Inc. has a twelve month low of $42.80 and a twelve month high of $54.83. The company has a debt-to-equity ratio of 4.05, a current ratio of 1.07 and a quick ratio of 1.02. The firm has a market capitalization of $208,418.64, a price-to-earnings ratio of 13.62, a P/E/G ratio of 4.80 and a beta of 0.57.
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, meeting 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 business had revenue of $31.70 billion for the quarter, compared to analyst estimates of $31.45 billion. During the same quarter in the previous year, the business earned $1.01 earnings per share. The firm’s revenue was up 2.5% compared to the same quarter last year. equities research analysts predict that Verizon Communications Inc. will post 3.77 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th will be issued a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.62%. Verizon Communications’s dividend payout ratio is currently 60.51%.
In other news, EVP Craig L. Silliman sold 610 shares of the business’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $48.62, for a total transaction of $29,658.20. Following the sale, the executive vice president now owns 5,989 shares in the company, valued at $291,185.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 1,830 shares of company stock worth $88,609 in the last 90 days. 0.13% of the stock is owned by company insiders.
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About Verizon Communications
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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