Peoples Financial Services CORP. boosted its position in shares of Verizon Communications Inc. (NYSE:VZ) by 0.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,069 shares of the cell phone carrier’s stock after buying an additional 260 shares during the period. Verizon Communications comprises 1.6% of Peoples Financial Services CORP.’s holdings, making the stock its 16th largest position. Peoples Financial Services CORP.’s holdings in Verizon Communications were worth $2,727,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the stock. Oakmont Partners LLC raised its position in Verizon Communications by 0.3% in the second quarter. Oakmont Partners LLC now owns 6,391 shares of the cell phone carrier’s stock valued at $285,000 after buying an additional 22 shares during the last quarter. Conservest Capital Advisors Inc. raised its position in Verizon Communications by 0.5% in the second quarter. Conservest Capital Advisors Inc. now owns 5,024 shares of the cell phone carrier’s stock valued at $224,000 after buying an additional 23 shares during the last quarter. Nottingham Advisors Inc. raised its position in Verizon Communications by 0.5% in the second quarter. Nottingham Advisors Inc. now owns 6,425 shares of the cell phone carrier’s stock valued at $287,000 after buying an additional 35 shares during the last quarter. Cobblestone Capital Advisors LLC NY raised its position in Verizon Communications by 0.3% in the first quarter. Cobblestone Capital Advisors LLC NY now owns 19,401 shares of the cell phone carrier’s stock valued at $946,000 after buying an additional 50 shares during the last quarter. Finally, Truepoint Inc. raised its position in Verizon Communications by 0.7% in the first quarter. Truepoint Inc. now owns 8,284 shares of the cell phone carrier’s stock valued at $404,000 after buying an additional 55 shares during the last quarter. 62.55% of the stock is owned by institutional investors and hedge funds.
Verizon Communications Inc. (VZ) opened at 43.36 on Wednesday. The stock has a market capitalization of $176.88 billion, a price-to-earnings ratio of 14.50 and a beta of 0.54. The company has a 50-day moving average price of $45.28 and a 200 day moving average price of $47.98. Verizon Communications Inc. has a 12 month low of $42.80 and a 12 month high of $56.25.
Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Thursday, April 20th. The cell phone carrier reported $0.95 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.98 by $0.03. Verizon Communications had a net margin of 9.92% and a return on equity of 66.99%. The company had revenue of $29.81 billion for the quarter, compared to analysts’ expectations of $30.41 billion. During the same period in the prior year, the firm earned $1.06 earnings per share. The firm’s quarterly revenue was down 7.3% on a year-over-year basis. Equities analysts predict that Verizon Communications Inc. will post $3.75 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th will be paid a dividend of $0.5775 per share. The ex-dividend date is Thursday, July 6th. This represents a $2.31 annualized dividend and a dividend yield of 5.33%. Verizon Communications’s dividend payout ratio is presently 77.00%.
Several research firms have recently commented on VZ. Barclays PLC reduced their price target on Verizon Communications from $49.00 to $47.00 and set an “equal weight” rating for the company in a research report on Friday, July 14th. Zacks Investment Research lowered Verizon Communications from a “hold” rating to a “sell” rating in a research report on Thursday, July 13th. Bank of America Corporation dropped their target price on Verizon Communications from $59.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, July 13th. Royal Bank Of Canada restated a “hold” rating and set a $48.00 target price on shares of Verizon Communications in a research note on Sunday, July 9th. Finally, Vetr upgraded Verizon Communications from a “buy” rating to a “strong-buy” rating and set a $50.65 target price on the stock in a research note on Wednesday, July 5th. One equities research analyst has rated the stock with a sell rating, twenty-six have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Verizon Communications presently has an average rating of “Hold” and an average target price of $53.23.
In related news, EVP Marni M. Walden sold 16,362 shares of the company’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $46.08, for a total transaction of $753,960.96. Following the completion of the sale, the executive vice president now directly owns 11,797 shares of the company’s stock, valued at approximately $543,605.76. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Craig L. Silliman sold 610 shares of the company’s stock in a transaction on Thursday, April 27th. The stock was sold at an average price of $47.36, for a total transaction of $28,889.60. Following the sale, the executive vice president now directly owns 9,649 shares of the company’s stock, valued at $456,976.64. The disclosure for this sale can be found here. Insiders have sold a total of 18,192 shares of company stock valued at $837,958 over the last three months. Corporate insiders own 0.13% of the company’s stock.
Verizon Communications Company Profile
Verizon Communications Inc is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. Its segments include Wireless and Wireline. The Wireless segment offers communications products and services, including wireless voice and data services and equipment sales, to consumer, business and government customers across the United States.
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