Lowe fs LLC raised its position in shares of Verizon Communications Inc. (NYSE:VZ) by 0.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,356 shares of the cell phone carrier’s stock after buying an additional 19 shares during the period. Lowe fs LLC’s holdings in Verizon Communications were worth $132,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. Cohen Lawrence B raised its stake in Verizon Communications by 13.1% in the first quarter. Cohen Lawrence B now owns 52,575 shares of the cell phone carrier’s stock worth $2,843,000 after buying an additional 6,110 shares in the last quarter. Carroll Financial Associates Inc. raised its stake in Verizon Communications by 9.1% in the first quarter. Carroll Financial Associates Inc. now owns 27,518 shares of the cell phone carrier’s stock worth $1,488,000 after buying an additional 2,297 shares in the last quarter. Narwhal Capital Management raised its stake in Verizon Communications by 0.6% in the first quarter. Narwhal Capital Management now owns 93,045 shares of the cell phone carrier’s stock worth $5,032,000 after buying an additional 600 shares in the last quarter. GW&K Investment Management LLC raised its stake in Verizon Communications by 9.2% in the first quarter. GW&K Investment Management LLC now owns 352,357 shares of the cell phone carrier’s stock worth $19,055,000 after buying an additional 29,585 shares in the last quarter. Finally, Delta Capital Management LLC raised its stake in Verizon Communications by 376.3% in the first quarter. Delta Capital Management LLC now owns 49,485 shares of the cell phone carrier’s stock worth $2,676,000 after buying an additional 39,095 shares in the last quarter. 63.47% of the stock is owned by institutional investors.
Shares of Verizon Communications Inc. (NYSE:VZ) traded up 0.80% during mid-day trading on Wednesday, hitting $50.30. The stock had a trading volume of 8,880,104 shares. Verizon Communications Inc. has a 1-year low of $43.79 and a 1-year high of $56.95. The stock’s 50-day moving average price is $51.95 and its 200 day moving average price is $52.69. The company has a market capitalization of $205.04 billion, a P/E ratio of 14.21 and a beta of 0.30.
Verizon Communications (NYSE:VZ) last posted its earnings results on Tuesday, July 26th. The cell phone carrier reported $0.94 EPS for the quarter, beating the consensus estimate of $0.92 by $0.02. The firm earned $30.53 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the company earned $1.04 earnings per share. On average, analysts predict 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. The ex-dividend date is Wednesday, October 5th. This represents a $0.05 annualized dividend and a yield of 0.10%. Verizon Communications’s dividend payout ratio is presently 65.25%.
A number of research firms have recently issued reports on VZ. Citigroup Inc. lowered shares of Verizon Communications to a “market perform” rating in a research report on Wednesday, July 20th. Morgan Stanley lowered shares of Verizon Communications from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, July 26th. RBC Capital Markets reissued a “buy” rating on shares of Verizon Communications in a research report on Monday, July 25th. JPMorgan Chase & Co. increased their price target on shares of Verizon Communications from $50.00 to $56.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 27th. Finally, Vetr lowered shares of Verizon Communications from a “strong-buy” rating to a “buy” rating and set a $58.40 price target for the company. in a research report on Thursday, September 1st. Twenty-four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $54.44.
In other news, EVP Craig L. Silliman sold 672 shares of the stock in a transaction dated Wednesday, July 27th. The stock was sold at an average price of $54.81, for a total value of $36,832.32. Following the completion of 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 legal filing with the SEC, which is available at this link. 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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