Park National Corp OH raised its position in Verizon Communications Inc. (NYSE:VZ) by 52.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 328,649 shares of the cell phone carrier’s stock after buying an additional 112,561 shares during the period. Park National Corp OH’s holdings in Verizon Communications were worth $14,677,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of VZ. Cobblestone Capital Advisors LLC NY boosted 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 worth $946,000 after buying an additional 50 shares during the last quarter. Truepoint Inc. boosted 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 worth $404,000 after buying an additional 55 shares during the last quarter. One Capital Management LLC boosted its position in Verizon Communications by 0.6% in the first quarter. One Capital Management LLC now owns 8,702 shares of the cell phone carrier’s stock worth $424,000 after buying an additional 56 shares during the last quarter. Miles Capital Inc. boosted its position in Verizon Communications by 1.7% in the fourth quarter. Miles Capital Inc. now owns 4,871 shares of the cell phone carrier’s stock worth $260,000 after buying an additional 81 shares during the last quarter. Finally, Horrell Capital Management Inc. boosted its position in Verizon Communications by 0.4% in the first quarter. Horrell Capital Management Inc. now owns 27,260 shares of the cell phone carrier’s stock worth $1,329,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 62.33% of the company’s stock.
Shares of Verizon Communications Inc. (VZ) traded up 0.239% on Tuesday, hitting $48.255. 3,676,859 shares of the stock traded hands. The stock has a 50-day moving average price of $46.11 and a 200 day moving average price of $47.27. Verizon Communications Inc. has a 52 week low of $42.80 and a 52 week high of $54.83. The firm has a market cap of $196.85 billion, a P/E ratio of 12.405 and a beta of 0.56.
Verizon Communications (NYSE:VZ) last announced its quarterly earnings results on Thursday, July 27th. The cell phone carrier reported $0.96 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.96. Verizon Communications had a net margin of 12.88% and a return on equity of 63.06%. The firm had revenue of $30.55 billion during the quarter, compared to the consensus estimate of $29.84 billion. During the same period last year, the firm earned $0.94 EPS. The business’s quarterly revenue was up .1% compared to the same quarter last year. Equities research analysts predict that Verizon Communications Inc. will post $3.79 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th were given a dividend of $0.5775 per share. This represents a $2.31 annualized dividend and a dividend yield of 4.80%. The ex-dividend date was Thursday, July 6th. Verizon Communications’s dividend payout ratio (DPR) is currently 59.23%.
A number of research firms recently commented on VZ. Bank of America Corporation reiterated a “buy” rating on shares of Verizon Communications in a report on Saturday, June 17th. TheStreet upgraded Verizon Communications from a “c+” rating to a “b-” rating in a report on Tuesday, August 8th. Zacks Investment Research cut Verizon Communications from a “hold” rating to a “sell” rating in a report on Tuesday, April 25th. Moffett Nathanson upgraded Verizon Communications from a “sell” rating to a “neutral” rating in a report on Tuesday, May 30th. Finally, ValuEngine cut Verizon Communications from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Verizon Communications has a consensus rating of “Hold” and a consensus target price of $52.73.
In other news, EVP Craig L. Silliman sold 610 shares of the firm’s stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $45.00, for a total transaction of $27,450.00. Following the sale, the executive vice president now owns 8,429 shares in the company, valued at approximately $379,305. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last 90 days, insiders have sold 1,830 shares of company stock worth $84,229. Corporate insiders own 0.13% of the company’s stock.
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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