MEMBERS Trust Co acquired a new position in shares of Verizon Communications Inc. (NYSE:VZ) during the second quarter, Holdings Channel reports. The fund acquired 31,838 shares of the cell phone carrier’s stock, valued at approximately $1,778,000. Verizon Communications comprises approximately 0.1% of MEMBERS Trust Co’s holdings, making the stock its 20th largest position.
A number of other institutional investors have also recently bought and sold shares of VZ. Taylor Wealth Management Partners boosted its position in shares of Verizon Communications by 15.2% in the second quarter. Taylor Wealth Management Partners now owns 2,275 shares of the cell phone carrier’s stock valued at $127,000 after buying an additional 300 shares during the last quarter. Lowe fs LLC raised its stake in Verizon Communications by 0.8% in the second quarter. Lowe fs LLC now owns 2,356 shares of the cell phone carrier’s stock valued at $132,000 after buying an additional 19 shares during the period. First National Bank Sioux Falls raised its stake in Verizon Communications by 8.7% in the second quarter. First National Bank Sioux Falls now owns 3,408 shares of the cell phone carrier’s stock valued at $190,000 after buying an additional 272 shares during the period. Fenimore Asset Management Inc. acquired a new stake in Verizon Communications during the second quarter valued at $202,000. Finally, Independence Advisors LLC acquired a new stake in Verizon Communications during the second quarter valued at $203,000. 63.47% of the stock is owned by institutional investors.
Verizon Communications Inc. (NYSE:VZ) opened at 50.27 on Thursday. The company has a market cap of $204.92 billion, a P/E ratio of 14.20 and a beta of 0.30. The company has a 50-day moving average of $52.26 and a 200 day moving average of $52.78. Verizon Communications Inc. has a one year low of $43.55 and a one year high of $56.95.
Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Tuesday, July 26th. The cell phone carrier reported $0.94 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.02. The company earned $30.53 billion during the quarter, compared to analysts’ expectations of $30.95 billion. Verizon Communications had a net margin of 11.10% and a return on equity of 87.41%. The business’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.04 earnings per share. Equities research analysts predict that Verizon Communications Inc. will post $3.89 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Friday, October 7th will be issued a $0.0125 dividend. This represents a $0.05 annualized dividend and a dividend yield of 0.10%. The ex-dividend date is Wednesday, October 5th. Verizon Communications’s dividend payout ratio (DPR) is presently 63.84%.
Several equities research analysts recently weighed in on VZ shares. Vetr lowered shares of Verizon Communications from a “strong-buy” rating to a “buy” rating and set a $57.60 price objective on the stock. in a research note on Monday. HSBC restated a “hold” rating and issued a $54.00 price target on shares of Verizon Communications in a research note on Wednesday, September 28th. Jefferies Group restated a “hold” rating on shares of Verizon Communications in a research note on Friday, September 2nd. Nomura restated a “hold” rating and issued a $47.00 price target on shares of Verizon Communications in a research note on Monday, September 12th. Finally, Barclays PLC restated an “equal weight” rating and issued a $52.00 price target on shares of Verizon Communications in a research note on Friday, August 26th. Twenty-four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Verizon Communications has an average rating of “Hold” and a consensus target price of $54.44.
In other news, EVP Craig L. Silliman sold 672 shares of the company’s stock in a transaction that occurred on Monday, September 26th. The shares were sold at an average price of $52.40, for a total value of $35,212.80. Following the completion of the transaction, the executive vice president now owns 9,854 shares in the company, valued at $516,349.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.10% of the stock is currently owned by insiders.
About Verizon Communications
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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