Bremer Trust National Association reduced its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 7.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,785 shares of the cell phone carrier’s stock after selling 3,172 shares during the quarter. Bremer Trust National Association’s holdings in Verizon Communications were worth $1,776,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in VZ. Cobblestone Capital Advisors LLC NY lifted its stake in Verizon Communications by 0.3% during the first quarter. Cobblestone Capital Advisors LLC NY now owns 19,401 shares of the cell phone carrier’s stock worth $946,000 after purchasing an additional 50 shares during the last quarter. Truepoint Inc. lifted its stake in Verizon Communications by 0.7% during the first quarter. Truepoint Inc. now owns 8,284 shares of the cell phone carrier’s stock worth $404,000 after purchasing an additional 55 shares during the last quarter. One Capital Management LLC lifted its stake in Verizon Communications by 0.6% during the first 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 last quarter. Horrell Capital Management Inc. lifted its stake in Verizon Communications by 0.4% during the first quarter. Horrell Capital Management Inc. now owns 27,260 shares of the cell phone carrier’s stock worth $1,329,000 after purchasing an additional 100 shares during the last quarter. Finally, Mount Vernon Associates Inc. MD lifted its stake in Verizon Communications by 0.4% during the first quarter. Mount Vernon Associates Inc. MD now owns 22,958 shares of the cell phone carrier’s stock worth $1,119,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 62.33% of the company’s stock.
Verizon Communications Inc. (NYSE VZ) traded up 1.44% on Friday, reaching $47.86. The company had a trading volume of 24,626,478 shares. Verizon Communications Inc. has a 12 month low of $42.80 and a 12 month high of $54.83. The company’s 50 day moving average price is $47.97 and its 200-day moving average price is $47.12. The company has a market capitalization of $195.24 billion, a price-to-earnings ratio of 12.30 and a beta of 0.57.
Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Thursday, July 27th. The cell phone carrier reported $0.96 EPS for the quarter, meeting analysts’ consensus estimates of $0.96. The business had revenue of $30.55 billion during the quarter, compared to the consensus estimate of $29.84 billion. Verizon Communications had a return on equity of 63.06% and a net margin of 12.88%. The firm’s revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.94 earnings per share. On average, equities analysts predict that Verizon Communications Inc. will post $3.78 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 4.93%. The ex-dividend date is Friday, October 6th. This is an increase from Verizon Communications’s previous quarterly dividend of $0.58. Verizon Communications’s dividend payout ratio is currently 59.23%.
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In related news, EVP Craig L. Silliman sold 610 shares of the company’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $47.74, for a total value of $29,121.40. Following the completion of the sale, the executive vice president now owns 7,819 shares in the company, valued at $373,279.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 1,830 shares of company stock valued at $86,248 in the last quarter. 0.13% of the stock is currently owned by corporate insiders.
Several equities analysts recently issued reports on VZ shares. Goldman Sachs Group, Inc. (The) restated a “neutral” rating on shares of Verizon Communications in a research note on Wednesday, June 28th. Vetr upgraded Verizon Communications from a “buy” rating to a “strong-buy” rating and set a $50.65 price objective on the stock in a research note on Wednesday, July 5th. Zacks Investment Research cut Verizon Communications from a “hold” rating to a “sell” rating in a research note on Tuesday, June 20th. BidaskClub upgraded Verizon Communications from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. Finally, Cowen and Company restated a “hold” rating and set a $49.00 price objective on shares of Verizon Communications in a research note on Wednesday, July 19th. Two analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $53.00.
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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