Rockefeller Financial Services Inc. decreased its position in Verizon Communications Inc. (NYSE:VZ) by 15.4% during the second quarter, Holdings Channel reports. The institutional investor owned 9,065 shares of the cell phone carrier’s stock after selling 1,644 shares during the period. Rockefeller Financial Services Inc.’s holdings in Verizon Communications were worth $506,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of VZ. Lynch & Associates IN increased its stake in Verizon Communications by 6.6% in the second quarter. Lynch & Associates IN now owns 22,989 shares of the cell phone carrier’s stock worth $1,284,000 after buying an additional 1,424 shares in the last quarter. QUANTRES ASSET MANAGEMENT Ltd acquired a new stake in Verizon Communications during the second quarter worth $207,000. Howard Capital Management increased its stake in Verizon Communications by 2.7% in the second quarter. Howard Capital Management now owns 7,760 shares of the cell phone carrier’s stock worth $433,000 after buying an additional 204 shares in the last quarter. TNB Financial increased its stake in Verizon Communications by 8.8% in the second quarter. TNB Financial now owns 86,256 shares of the cell phone carrier’s stock worth $4,817,000 after buying an additional 7,010 shares in the last quarter. Finally, Lowe fs LLC increased 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 worth $132,000 after buying an additional 19 shares in the last quarter. Hedge funds and other institutional investors own 63.47% of the company’s stock.
Verizon Communications Inc. (NYSE:VZ) traded down 0.02% during trading on Friday, reaching $50.28. The company’s stock had a trading volume of 8,853,208 shares. Verizon Communications Inc. has a 12 month low of $43.79 and a 12 month high of $56.95. The stock has a market cap of $204.96 billion, a PE ratio of 14.20 and a beta of 0.30. The company’s 50-day moving average is $51.75 and its 200-day moving average is $52.63.
Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Tuesday, July 26th. The cell phone carrier reported $0.94 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.02. Verizon Communications had a return on equity of 87.41% and a net margin of 11.10%. The company earned $30.53 billion during the quarter, compared to the consensus estimate of $30.95 billion. During the same period last year, the company earned $1.04 earnings per share. The firm’s revenue was down 5.3% compared to the same quarter last year. Equities analysts expect that Verizon Communications Inc. will post $3.89 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Friday, October 7th will be given a dividend of $0.0125 per share. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.10%. Verizon Communications’s dividend payout ratio (DPR) is 65.25%.
Several equities research analysts have recently commented on the stock. Vetr downgraded shares of Verizon Communications from a “strong-buy” rating to a “buy” rating and set a $57.60 target price on the stock. in a research note on Monday, October 3rd. HSBC restated a “hold” rating and issued a $54.00 target price 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 Monday, September 19th. Nomura restated a “hold” rating and issued a $47.00 target price 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 target price on shares of Verizon Communications in a research note on Friday, August 26th. Twenty-four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company currently 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 firm’s stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $52.76, for a total transaction of $35,454.72. Following the completion of the transaction, the executive vice president now directly owns 10,526 shares in the company, valued at $555,351.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.10% of the company’s stock.
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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