MEMBERS Trust Co lifted its position in Verizon Communications Inc. (NYSE:VZ) by 22.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,896 shares of the cell phone carrier’s stock after buying an additional 6,141 shares during the quarter. Verizon Communications makes up approximately 0.1% of MEMBERS Trust Co’s portfolio, making the stock its 23rd biggest holding. MEMBERS Trust Co’s holdings in Verizon Communications were worth $2,017,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Laidlaw Wealth Management LLC boosted its stake in Verizon Communications by 6,131.5% during the second quarter. Laidlaw Wealth Management LLC now owns 1,967,354 shares of the cell phone carrier’s stock valued at $36,000 after buying an additional 1,935,783 shares during the period. Avion Wealth grew its stake in shares of Verizon Communications by 191.4% during the third quarter. Avion Wealth now owns 609 shares of the cell phone carrier’s stock valued at $36,000 after buying an additional 400 shares during the last quarter. HighMark Wealth Management LLC increased its holdings in shares of Verizon Communications by 52.1% in the second quarter. HighMark Wealth Management LLC now owns 788 shares of the cell phone carrier’s stock worth $43,000 after buying an additional 270 shares during the period. Evolution Wealth Advisors LLC increased its holdings in shares of Verizon Communications by 166.7% in the second quarter. Evolution Wealth Advisors LLC now owns 800 shares of the cell phone carrier’s stock worth $44,000 after buying an additional 500 shares during the period. Finally, Jaffetilchin Investment Partners LLC lifted its stake in shares of Verizon Communications by 381.5% in the 2nd quarter. Jaffetilchin Investment Partners LLC now owns 47,476 shares of the cell phone carrier’s stock valued at $55,000 after acquiring an additional 37,616 shares during the last quarter. Institutional investors own 64.85% of the company’s stock.
In other news, EVP Craig L. Silliman sold 10,411 shares of Verizon Communications stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $57.73, for a total transaction of $601,027.03. Following the completion of the transaction, the executive vice president now directly owns 23,771 shares in the company, valued at $1,372,299.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.07% of the stock is currently owned by corporate insiders.
Shares of NYSE VZ traded down $0.28 during mid-day trading on Tuesday, hitting $60.61. 193,439 shares of the stock traded hands, compared to its average volume of 16,910,373. The company has a market cap of $251.97 billion, a price-to-earnings ratio of 13.15, a PEG ratio of 3.54 and a beta of 0.44. The stock has a fifty day moving average price of $58.69 and a 200-day moving average price of $57.55. Verizon Communications Inc. has a 52 week low of $48.84 and a 52 week high of $62.22. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.93 and a current ratio of 0.96.
Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Wednesday, October 21st. The cell phone carrier reported $1.25 EPS for the quarter, beating the consensus estimate of $1.22 by $0.03. The business had revenue of $31.50 billion during the quarter, compared to analyst estimates of $31.60 billion. Verizon Communications had a return on equity of 32.15% and a net margin of 14.76%. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.25 earnings per share. As a group, sell-side analysts predict that Verizon Communications Inc. will post 4.77 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 2nd. Investors of record on Friday, October 9th were paid a dividend of $0.6275 per share. The ex-dividend date of this dividend was Thursday, October 8th. This represents a $2.51 annualized dividend and a yield of 4.14%. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.62. Verizon Communications’s payout ratio is presently 52.18%.
VZ has been the topic of a number of analyst reports. Raymond James lifted their price target on Verizon Communications from $61.00 to $64.00 and gave the stock an “outperform” rating in a research note on Monday, July 27th. JPMorgan Chase & Co. raised shares of Verizon Communications from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $61.00 to $65.00 in a research note on Thursday, November 5th. Wells Fargo & Company began coverage on shares of Verizon Communications in a research report on Monday. They set an “equal weight” rating and a $60.00 price target for the company. Oppenheimer assumed coverage on shares of Verizon Communications in a research report on Tuesday, September 15th. They issued a “buy” rating and a $70.00 price objective on the stock. Finally, Wolfe Research assumed coverage on shares of Verizon Communications in a research note on Monday, October 19th. They set a “peer perform” rating and a $62.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and an average price target of $61.81.
About Verizon Communications
Verizon Communications Inc offers communications, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. Its Consumer segment provides postpaid and prepaid service plans; Internet access on notebook computers and tablets; wireless equipment, including smartphones and other handsets; and wireless-enabled Internet devices, such as tablets, laptop computers and netbooks, and other wireless-enabled connected devices, such as smart watches and other wearables.
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