Train Babcock Advisors LLC lessened its stake in Verizon Communications Inc. (NYSE:VZ) by 5.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 104,251 shares of the cell phone carrier’s stock after selling 6,035 shares during the period. Verizon Communications makes up approximately 2.0% of Train Babcock Advisors LLC’s holdings, making the stock its 12th largest position. Train Babcock Advisors LLC’s holdings in Verizon Communications were worth $4,656,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of the business. Franklin Parlapiano Turner & Welch LLC bought a new stake in shares of Verizon Communications during the 1st quarter valued at $136,000. American Beacon Advisors Inc. bought a new stake in shares of Verizon Communications during the 1st quarter valued at $140,000. Proficio Capital Partners LLC grew its position in shares of Verizon Communications by 139.8% during the 1st quarter. Proficio Capital Partners LLC now owns 3,158 shares of the cell phone carrier’s stock valued at $142,000 after acquiring an additional 1,841 shares during the period. Camarda Financial Advisors LLC grew its position in shares of Verizon Communications by 11.3% during the 2nd quarter. Camarda Financial Advisors LLC now owns 3,749 shares of the cell phone carrier’s stock valued at $167,000 after acquiring an additional 382 shares during the period. Finally, Asset Advisors Corp grew its position in shares of Verizon Communications by 2.5% during the 2nd quarter. Asset Advisors Corp now owns 4,085 shares of the cell phone carrier’s stock valued at $182,000 after acquiring an additional 100 shares during the period. 62.09% of the stock is owned by institutional investors and hedge funds.
In related news, EVP Craig L. Silliman sold 610 shares of the company’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $48.65, for a total transaction of $29,676.50. Following the transaction, the executive vice president now directly owns 7,209 shares in the company, valued at approximately $350,717.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 1,830 shares of company stock worth $89,365 over the last quarter. 0.13% of the stock is currently owned by insiders.
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Verizon Communications Inc. (VZ) opened at $45.42 on Friday. The company has a market cap of $182,640.00, a PE ratio of 11.79, a P/E/G ratio of 4.16 and a beta of 0.55. Verizon Communications Inc. has a fifty-two week low of $42.80 and a fifty-two week high of $54.83. 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 (NYSE:VZ) last issued its quarterly earnings results on Thursday, October 19th. The cell phone carrier reported $0.98 EPS for the quarter, meeting the consensus estimate of $0.98. The company had revenue of $31.70 billion for the quarter, compared to the consensus estimate of $31.45 billion. Verizon Communications had a net margin of 12.80% and a return on equity of 58.66%. The firm’s revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.01 EPS. equities analysts predict that Verizon Communications Inc. will post 3.77 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 5.20%. This is an increase from Verizon Communications’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Friday, October 6th. Verizon Communications’s dividend payout ratio is presently 60.51%.
A number of research analysts recently weighed in on VZ shares. 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 target price on shares of Verizon Communications and gave the company a “buy” rating in a research note on Friday, October 20th. Robert W. Baird restated a “hold” rating and set a $49.00 target price 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 lifted their target price on shares of Verizon Communications from $48.00 to $50.00 and gave the company a “sector perform” rating in a research note on Monday, July 31st. Two investment analysts have rated the stock with a sell rating, twenty have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and an average 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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