Sentinel Trust Co. LBA boosted its position in Verizon Communications Inc. (NYSE:VZ) by 94.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,075 shares of the cell phone carrier’s stock after buying an additional 31,166 shares during the period. Sentinel Trust Co. LBA’s holdings in Verizon Communications were worth $2,861,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Shepherd Financial Partners LLC purchased a new stake in Verizon Communications during the fourth quarter worth about $285,000. Biegel & Waller LLC purchased a new stake in Verizon Communications during the fourth quarter worth about $245,000. Cypress Wealth Advisors LLC increased its stake in Verizon Communications by 5.8% in the fourth quarter. Cypress Wealth Advisors LLC now owns 13,040 shares of the cell phone carrier’s stock worth $696,000 after buying an additional 712 shares in the last quarter. CAMG Solamere Management LLC purchased a new stake in Verizon Communications during the fourth quarter worth about $291,000. Finally, Bridgeworth LLC purchased a new stake in Verizon Communications during the fourth quarter worth about $684,000. 62.33% of the stock is owned by institutional investors and hedge funds.
Shares of Verizon Communications Inc. (VZ) traded down 0.282% on Friday, reaching $47.755. The company had a trading volume of 8,808,618 shares. The stock’s 50 day moving average is $45.92 and its 200 day moving average is $47.30. Verizon Communications Inc. has a 52 week low of $42.80 and a 52 week high of $54.83. The firm has a market capitalization of $194.81 billion, a price-to-earnings ratio of 12.276 and a beta of 0.56.
Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Thursday, July 27th. The cell phone carrier reported $0.96 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.96. The business had revenue of $30.55 billion during the quarter, compared to the consensus estimate of $29.84 billion. Verizon Communications had a net margin of 12.88% and a return on equity of 63.06%. The firm’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.94 earnings per share. On average, equities analysts anticipate that Verizon Communications Inc. will post $3.79 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were paid a $0.5775 dividend. This represents a $2.31 annualized dividend and a yield of 4.82%. The ex-dividend date was Thursday, July 6th. Verizon Communications’s payout ratio is currently 59.23%.
Several equities analysts have recently weighed in on VZ shares. Argus cut Verizon Communications from a “buy” rating to a “hold” rating in a research report on Friday, April 21st. Royal Bank Of Canada reiterated a “hold” rating and issued a $48.00 price target on shares of Verizon Communications in a research report on Friday, April 21st. Macquarie reiterated a “neutral” rating and issued a $49.00 price target (down from $50.00) on shares of Verizon Communications in a research report on Sunday, April 23rd. Jefferies Group LLC reiterated a “hold” rating and issued a $50.00 price target (down from $51.00) on shares of Verizon Communications in a research report on Sunday, April 23rd. Finally, Deutsche Bank AG reiterated a “hold” rating and issued a $46.00 price target (down from $47.00) on shares of Verizon Communications in a research report on Sunday, April 23rd. Two investment analysts have rated the stock with a sell rating, twenty-two have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Verizon Communications currently has an average rating of “Hold” and an average target price of $52.73.
In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of the firm’s stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $45.00, for a total value of $27,450.00. Following the completion of the sale, the executive vice president now owns 8,429 shares of the company’s stock, valued at $379,305. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders sold 1,830 shares of company stock valued at $84,229. 0.13% of the stock is owned by insiders.
About Verizon Communications
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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