Simmons Bank increased its position in shares of Verizon Communications Inc. (NYSE:VZ) by 1.5% during the second quarter, according to its most recent filing with the SEC. The firm owned 156,858 shares of the cell phone carrier’s stock after buying an additional 2,386 shares during the period. Verizon Communications accounts for about 1.0% of Simmons Bank’s investment portfolio, making the stock its 18th largest position. Simmons Bank’s holdings in Verizon Communications were worth $8,758,000 as of its most recent filing with the SEC.
A number of other large investors also recently bought and sold shares of the stock. Emerald Acquisition Ltd. bought a new stake in shares of Verizon Communications during the second quarter worth $297,331,000. Canada Pension Plan Investment Board boosted its stake in shares of Verizon Communications by 102.0% in the first quarter. Canada Pension Plan Investment Board now owns 5,912,820 shares of the cell phone carrier’s stock worth $319,765,000 after buying an additional 2,985,510 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in shares of Verizon Communications by 45.1% in the first quarter. Adage Capital Partners GP L.L.C. now owns 6,069,655 shares of the cell phone carrier’s stock worth $328,247,000 after buying an additional 1,885,482 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Verizon Communications by 1.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 108,614,434 shares of the cell phone carrier’s stock worth $5,873,869,000 after buying an additional 1,582,173 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its stake in shares of Verizon Communications by 104.6% in the first quarter. Lazard Asset Management LLC now owns 3,054,161 shares of the cell phone carrier’s stock worth $165,168,000 after buying an additional 1,561,110 shares in the last quarter. Institutional investors own 63.47% of the company’s stock.
Verizon Communications Inc. (NYSE:VZ) traded up 0.29% during midday trading on Thursday, hitting $52.21. The stock had a trading volume of 8,416,501 shares. The firm has a market capitalization of $212.82 billion, a price-to-earnings ratio of 14.75 and a beta of 0.26. The firm has a 50-day moving average price of $52.55 and a 200-day moving average price of $52.84. Verizon Communications Inc. has a 1-year low of $42.20 and a 1-year high of $56.95.
Verizon Communications (NYSE:VZ) last released its earnings results on Tuesday, July 26th. The cell phone carrier reported $0.94 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.02. The firm had revenue of $30.53 billion for the quarter, compared to analysts’ expectations of $30.95 billion. Verizon Communications had a return on equity of 87.41% and a net margin of 11.10%. The business’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.04 EPS. On average, equities research analysts anticipate that Verizon Communications Inc. will post $3.89 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, October 7th will be paid a $0.0125 dividend. This represents a $0.05 annualized dividend and a yield of 0.10%. The ex-dividend date of this dividend is Wednesday, October 5th. Verizon Communications’s payout ratio is 63.84%.
A number of equities research analysts recently weighed in on VZ shares. Argus restated a “buy” rating on shares of Verizon Communications in a research note on Sunday, June 12th. Bank of America Corp. restated a “buy” rating on shares of Verizon Communications in a research note on Wednesday, June 8th. Morgan Stanley restated a “buy” rating on shares of Verizon Communications in a research note on Monday, June 6th. RBC Capital Markets restated a “buy” rating on shares of Verizon Communications in a research note on Monday, July 25th. Finally, Vetr restated a “buy” rating on shares of Verizon Communications in a research note on Wednesday, August 10th. Twenty-four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $54.48.
In other Verizon Communications news, EVP Craig L. Silliman sold 672 shares of the business’s stock in a transaction that occurred on Monday, September 26th. The stock was sold at an average price of $52.40, for a total value of $35,212.80. Following the sale, the executive vice president now owns 9,854 shares in the company, valued at approximately $516,349.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.10% of the stock is owned by company insiders.
Verizon Communications Company Profile
Verizon Communications Inc (Verizon) is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. The Company offers voice, data and video services and solutions on its wireless and wireline networks.
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