Verizon Communications Inc. (VZ) Stake Increased by Lincoln National Corp
Lincoln National Corp lifted its position in shares of Verizon Communications Inc. (NYSE:VZ) by 7.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 43,878 shares of the cell phone carrier’s stock after buying an additional 3,050 shares during the period. Lincoln National Corp’s holdings in Verizon Communications were worth $2,171,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently made changes to their positions in VZ. Private Vista LLC increased its holdings in shares of Verizon Communications by 3,339.1% during the 2nd quarter. Private Vista LLC now owns 389,552 shares of the cell phone carrier’s stock worth $143,000 after buying an additional 378,225 shares during the last quarter. Mountain Capital Investment Advisors Inc purchased a new position in shares of Verizon Communications during the 2nd quarter worth approximately $156,000. Regal Wealth Group Inc. boosted its position in shares of Verizon Communications by 0.7% during the 2nd quarter. Regal Wealth Group Inc. now owns 3,682 shares of the cell phone carrier’s stock worth $164,000 after purchasing an additional 24 shares during the period. Camarda Financial Advisors LLC boosted its position in shares of 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 worth $167,000 after purchasing an additional 382 shares during the period. Finally, Atlantic Trust LLC boosted its position in shares of Verizon Communications by 9.9% during the 2nd quarter. Atlantic Trust LLC now owns 11,164 shares of the cell phone carrier’s stock worth $170,000 after purchasing an additional 1,005 shares during the period. Institutional investors and hedge funds own 63.21% of the company’s stock.
In other news, EVP Craig L. Silliman sold 610 shares of the firm’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $48.62, for a total value of $29,658.20. Following the sale, the executive vice president now directly owns 5,989 shares in the company, valued at approximately $291,185.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.13% of the company’s stock.
Verizon Communications Inc. (VZ) opened at $51.86 on Friday. The company has a debt-to-equity ratio of 4.05, a current ratio of 1.07 and a quick ratio of 1.02. Verizon Communications Inc. has a 1 year low of $42.80 and a 1 year high of $53.69. The company has a market cap of $211,560.00, a P/E ratio of 13.30, a price-to-earnings-growth ratio of 4.80 and a beta of 0.57.
Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Thursday, October 19th. The cell phone carrier reported $0.98 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.98. Verizon Communications had a net margin of 12.80% and a return on equity of 58.66%. The company had revenue of $31.70 billion during the quarter, compared to analysts’ expectations of $31.45 billion. During the same quarter last year, the company posted $1.01 EPS. The firm’s revenue was up 2.5% compared to the same quarter last year. equities research analysts forecast that Verizon Communications Inc. will post 3.77 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th will be given a $0.59 dividend. The ex-dividend date is Tuesday, January 9th. This represents a $2.36 annualized dividend and a yield of 4.55%. Verizon Communications’s dividend payout ratio is presently 60.51%.
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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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