National Planning Corp trimmed its position in Verizon Communications Inc. (NYSE:VZ) by 6.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 88,278 shares of the cell phone carrier’s stock after selling 6,488 shares during the quarter. National Planning Corp’s holdings in Verizon Communications were worth $3,973,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Franklin Parlapiano Turner & Welch LLC acquired a new stake in Verizon Communications during the first quarter worth about $136,000. American Beacon Advisors Inc. acquired a new stake in Verizon Communications during the first quarter worth about $140,000. Proficio Capital Partners LLC boosted its position in Verizon Communications by 139.8% during the first quarter. Proficio Capital Partners LLC now owns 3,158 shares of the cell phone carrier’s stock worth $142,000 after purchasing an additional 1,841 shares in the last quarter. Camarda Financial Advisors LLC boosted its position in Verizon Communications by 11.3% during the second quarter. Camarda Financial Advisors LLC now owns 3,749 shares of the cell phone carrier’s stock worth $167,000 after purchasing an additional 382 shares in the last quarter. Finally, Asset Advisors Corp boosted its position in Verizon Communications by 2.5% during the second quarter. Asset Advisors Corp now owns 4,085 shares of the cell phone carrier’s stock worth $182,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 62.09% of the company’s stock.
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VZ has been the topic of a number of recent analyst reports. Cowen and Company reiterated a “hold” rating and set a $49.00 price target on shares of Verizon Communications in a research report on Wednesday, July 19th. Royal Bank Of Canada raised their target price on Verizon Communications from $48.00 to $50.00 and gave the company a “sector perform” rating in a research report on Monday, July 31st. BidaskClub upgraded Verizon Communications from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. TheStreet upgraded Verizon Communications from a “c+” rating to a “b-” rating in a research report on Tuesday, August 8th. Finally, Robert W. Baird reissued a “hold” rating and set a $49.00 target price on shares of Verizon Communications in a research note on Wednesday, October 4th. Two analysts have rated the stock with a sell rating, twenty have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Verizon Communications currently has a consensus rating of “Hold” and a consensus target price of $52.75.
In related news, EVP Craig L. Silliman sold 610 shares of Verizon Communications stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $49.23, for a total value of $30,030.30. Following the completion of the sale, the executive vice president now owns 6,599 shares of the company’s stock, valued at approximately $324,868.77. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders sold 1,830 shares of company stock valued at $89,365. 0.13% of the stock is owned by company insiders.
Verizon Communications Inc. (NYSE:VZ) opened at $44.75 on Tuesday. Verizon Communications Inc. has a 52 week low of $42.80 and a 52 week high of $54.83. The company has a debt-to-equity ratio of 4.05, a current ratio of 1.07 and a quick ratio of 1.02. The company has a market cap of $183,085.31, a P/E ratio of 11.97, a P/E/G ratio of 4.22 and a beta of 0.55.
Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Thursday, October 19th. The cell phone carrier reported $0.98 EPS for the quarter, hitting analysts’ consensus estimates of $0.98. The firm 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 revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the business posted $1.01 EPS. analysts forecast that Verizon Communications Inc. will post 3.77 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 5.27%. The ex-dividend date was Friday, October 6th. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.58. Verizon Communications’s payout ratio is presently 60.51%.
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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