Kopp Investment Advisors LLC boosted its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 3.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,685 shares of the cell phone carrier’s stock after purchasing an additional 447 shares during the period. Kopp Investment Advisors LLC’s holdings in Verizon Communications were worth $611,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in VZ. Franklin Parlapiano Turner & Welch LLC purchased a new position in Verizon Communications during the 1st quarter valued at about $136,000. American Beacon Advisors Inc. purchased a new position in Verizon Communications during the 1st quarter valued at about $140,000. Proficio Capital Partners LLC increased its holdings in 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 purchasing an additional 1,841 shares during the period. Private Vista LLC increased its holdings in Verizon Communications by 3,339.1% during the 2nd quarter. Private Vista LLC now owns 389,552 shares of the cell phone carrier’s stock valued at $143,000 after purchasing an additional 378,225 shares during the period. Finally, Regal Wealth Group Inc. increased its holdings in Verizon Communications by 0.7% during the 2nd quarter. Regal Wealth Group Inc. now owns 3,682 shares of the cell phone carrier’s stock valued at $164,000 after purchasing an additional 24 shares during the period. Institutional investors own 63.37% of the company’s stock.
Shares of Verizon Communications Inc. (NYSE VZ) traded up $0.67 on Friday, hitting $51.09. The stock had a trading volume of 13,556,061 shares, compared to its average volume of 17,438,778. The company has a debt-to-equity ratio of 4.05, a quick ratio of 1.02 and a current ratio of 1.07. Verizon Communications Inc. has a 12-month low of $42.80 and a 12-month high of $54.83. The company has a market cap of $205,685.41, a PE ratio of 13.44, a P/E/G ratio of 4.74 and a beta of 0.57.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th will be given a $0.59 dividend. The ex-dividend date is Tuesday, January 9th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.62%. Verizon Communications’s dividend payout ratio is currently 60.51%.
In other news, EVP Craig L. Silliman sold 610 shares of the business’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $48.62, for a total value of $29,658.20. Following the sale, the executive vice president now directly owns 5,989 shares of the company’s stock, valued at approximately $291,185.18. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last three months, insiders sold 1,830 shares of company stock worth $88,609. Insiders own 0.13% of the company’s stock.
A number of research analysts recently issued reports on the company. ValuEngine upgraded Verizon Communications from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Robert W. Baird reiterated a “hold” rating and set a $49.00 target price on shares of Verizon Communications in a report on Wednesday, October 4th. Macquarie reiterated a “hold” rating and set a $52.00 target price on shares of Verizon Communications in a report on Sunday, October 22nd. KeyCorp reiterated a “hold” rating on shares of Verizon Communications in a report on Saturday, October 21st. Finally, Bank of America set a $52.00 target price on Verizon Communications and gave the stock a “buy” rating in a report on Friday, October 20th. Two research analysts have rated the stock with a sell rating, nineteen have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $51.25.
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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