Capital Management Corp VA boosted its position in shares of Verizon Communications Inc. (NYSE:VZ) by 24.5% during the second quarter, Holdings Channel reports. The firm owned 75,510 shares of the cell phone carrier’s stock after buying an additional 14,842 shares during the period. Verizon Communications accounts for about 1.6% of Capital Management Corp VA’s portfolio, making the stock its 29th largest position. Capital Management Corp VA’s holdings in Verizon Communications were worth $4,216,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. Lowe fs LLC raised its position 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. Fenimore Asset Management Inc. acquired a new position in shares of Verizon Communications during the second quarter worth about $202,000. QUANTRES ASSET MANAGEMENT Ltd acquired a new position in shares of Verizon Communications during the second quarter worth about $207,000. Kimelman & Baird LLC acquired a new position in shares of Verizon Communications during the first quarter worth about $208,000. Finally, ELM Advisors LLC acquired a new position in shares of Verizon Communications during the second quarter worth about $222,000. Institutional investors and hedge funds 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 had a trading volume of 8,853,208 shares. The company has a 50-day moving average price of $51.75 and a 200 day moving average price of $52.63. The company has a market capitalization of $204.96 billion, a price-to-earnings ratio of 14.20 and a beta of 0.30. Verizon Communications Inc. has a one year low of $43.79 and a one year high of $56.95.
Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Tuesday, July 26th. The cell phone carrier reported $0.94 EPS for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.02. The business had revenue of $30.53 billion for 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 firm posted $1.04 earnings per share. Analysts expect that Verizon Communications Inc. will post $3.89 earnings per share for the current 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 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 presently 65.25%.
A number of research analysts have issued reports on VZ shares. Vetr lowered Verizon Communications from a “strong-buy” rating to a “buy” rating and set a $57.60 price target for the company. in a research report on Monday, October 3rd. HSBC reiterated a “hold” rating and set a $54.00 price target on shares of Verizon Communications in a research report on Wednesday, September 28th. Jefferies Group reiterated a “hold” rating on shares of Verizon Communications in a research report on Friday, September 2nd. Nomura reiterated a “hold” rating and set a $47.00 price target on shares of Verizon Communications in a research report on Monday, September 12th. Finally, Barclays PLC reiterated an “equal weight” rating and set a $52.00 price target on shares of Verizon Communications in a research report on Friday, August 26th. Twenty-four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Verizon Communications currently has a consensus rating of “Hold” and an average price target of $54.44.
In other news, EVP Craig L. Silliman sold 672 shares of the stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $52.76, for a total transaction of $35,454.72. Following the transaction, the executive vice president now owns 10,526 shares of the company’s stock, valued at approximately $555,351.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.10% of the company’s stock.
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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