Texas Yale Capital Corp. lowered its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 0.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,847 shares of the cell phone carrier’s stock after selling 292 shares during the period. Texas Yale Capital Corp.’s holdings in Verizon Communications were worth $1,824,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of the company. Franklin Parlapiano Turner & Welch LLC purchased a new stake in Verizon Communications in the first quarter valued at approximately $136,000. American Beacon Advisors Inc. purchased a new stake in Verizon Communications in the first quarter valued at approximately $140,000. Proficio Capital Partners LLC grew its holdings in Verizon Communications by 139.8% in the first quarter. Proficio Capital Partners LLC now owns 3,158 shares of the cell phone carrier’s stock valued at $142,000 after purchasing an additional 1,841 shares during the period. Camarda Financial Advisors LLC grew its holdings in Verizon Communications by 11.3% in the second quarter. Camarda Financial Advisors LLC now owns 3,749 shares of the cell phone carrier’s stock valued at $167,000 after purchasing an additional 382 shares during the period. Finally, Asset Advisors Corp grew its holdings in Verizon Communications by 2.5% in the second quarter. Asset Advisors Corp now owns 4,085 shares of the cell phone carrier’s stock valued at $182,000 after purchasing an additional 100 shares during the period. 62.09% of the stock is owned by institutional investors and hedge funds.
Verizon Communications Inc. (VZ) opened at $44.77 on Friday. The company has a market cap of $182,640.00, a PE ratio of 11.79, a PEG ratio of 4.16 and a beta of 0.55. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 4.05. Verizon Communications Inc. has a 12-month low of $42.80 and a 12-month high of $54.83.
Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Thursday, October 19th. The cell phone carrier reported $0.98 EPS for the quarter, hitting the consensus estimate of $0.98. The business had revenue of $31.70 billion during the quarter, compared to analyst estimates of $31.45 billion. Verizon Communications had a net margin of 12.80% and a return on equity of 58.66%. The company’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.01 earnings per share. research analysts expect that Verizon Communications Inc. will post 3.77 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th were given a dividend of $0.59 per share. The ex-dividend date was Friday, October 6th. This represents a $2.36 annualized dividend and a dividend yield of 5.27%. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.58. Verizon Communications’s dividend payout ratio is currently 60.51%.
In related news, EVP Craig L. Silliman sold 610 shares of the stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $48.62, for a total value of $29,658.20. Following the completion of the transaction, the executive vice president now owns 5,989 shares in the company, valued at approximately $291,185.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 1,830 shares of company stock valued at $89,365 in the last 90 days. Insiders own 0.13% of the company’s stock.
Several equities research analysts have issued reports on the stock. TheStreet upgraded shares of Verizon Communications from a “c+” rating to a “b-” rating in a research note on Tuesday, August 8th. Bank of America Corporation set a $52.00 price objective on shares of Verizon Communications and gave the stock a “buy” rating in a research note on Friday, October 20th. Robert W. Baird reiterated a “hold” rating and set a $49.00 price objective on shares of Verizon Communications in a research note on Wednesday, October 4th. BidaskClub upgraded shares of Verizon Communications from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. Finally, Royal Bank Of Canada boosted their price objective on shares of Verizon Communications from $48.00 to $50.00 and gave the stock a “sector perform” rating in a research note on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $52.75.
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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