Auxier Asset Management lowered its position in shares of Verizon Communications Inc. (NYSE:VZ) by 0.1% during the second quarter, Holdings Channel reports. The firm owned 42,602 shares of the cell phone carrier’s stock after selling 50 shares during the period. Auxier Asset Management’s holdings in Verizon Communications were worth $2,379,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of the stock. Fox Run Management L.L.C. acquired a new position in Verizon Communications during the first quarter worth $589,000. Laurel Grove Capital LLC raised its position in Verizon Communications by 4.6% in the first quarter. Laurel Grove Capital LLC now owns 85,505 shares of the cell phone carrier’s stock worth $4,624,000 after buying an additional 3,764 shares during the period. Davis R M Inc. raised its position in Verizon Communications by 0.3% in the first quarter. Davis R M Inc. now owns 36,199 shares of the cell phone carrier’s stock worth $1,958,000 after buying an additional 99 shares during the period. First Financial Corp IN raised its position in Verizon Communications by 1.5% in the first quarter. First Financial Corp IN now owns 43,837 shares of the cell phone carrier’s stock worth $2,371,000 after buying an additional 650 shares during the period. Finally, Woodley Farra Manion Portfolio Management Inc. raised its position in Verizon Communications by 3.1% in the first quarter. Woodley Farra Manion Portfolio Management Inc. now owns 488,100 shares of the cell phone carrier’s stock worth $26,396,000 after buying an additional 14,675 shares during the period. Institutional investors own 63.47% of the company’s stock.
Verizon Communications Inc. (NYSE:VZ) traded down 0.3649% during mid-day trading on Friday, hitting $50.0766. The stock had a trading volume of 5,402,247 shares. The stock has a market cap of $204.13 billion, a P/E ratio of 14.1459 and a beta of 0.30. The firm has a 50-day moving average of $52.17 and a 200-day moving average of $52.76. Verizon Communications Inc. has a 52-week low of $43.79 and a 52-week high of $56.95.
Verizon Communications (NYSE:VZ) last announced its earnings results on Tuesday, July 26th. The cell phone carrier reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.02. The company had revenue of $30.53 billion for the quarter, compared to analyst estimates of $30.95 billion. Verizon Communications had a return on equity of 87.41% and a net margin of 11.10%. The firm’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.04 earnings per share. On average, analysts forecast that Verizon Communications Inc. will post $3.89 EPS for the current fiscal 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 given a $0.0125 dividend. This represents a $0.05 dividend on an annualized basis and a yield of 0.10%. The ex-dividend date of this dividend is Wednesday, October 5th. Verizon Communications’s payout ratio is 65.25%.
A number of equities analysts have recently weighed in on VZ shares. Argus reaffirmed a “buy” rating on shares of Verizon Communications in a research note on Sunday, June 12th. RBC Capital Markets reaffirmed a “buy” rating on shares of Verizon Communications in a research note on Monday, July 25th. Vetr reaffirmed a “buy” rating on shares of Verizon Communications in a research note on Wednesday, August 10th. Morgan Stanley lowered Verizon Communications from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, July 26th. Finally, Barclays PLC reaffirmed an “equal weight” rating and issued a $52.00 price objective on shares of Verizon Communications in a research note on Friday, August 26th. Twenty-four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Verizon Communications currently has a consensus rating of “Hold” and a consensus target price of $54.44.
In other Verizon Communications news, EVP Craig L. Silliman sold 672 shares of the business’s stock in a transaction that occurred on Wednesday, July 27th. The stock was sold at an average price of $54.81, for a total value of $36,832.32. Following the sale, the executive vice president now owns 11,198 shares of the company’s stock, valued at $613,762.38. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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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