Moloney Securities Asset Management LLC boosted its position in Verizon Communications Inc. (NYSE:VZ) by 2.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 36,381 shares of the cell phone carrier’s stock after buying an additional 918 shares during the period. Verizon Communications makes up about 0.9% of Moloney Securities Asset Management LLC’s portfolio, making the stock its 22nd largest position. Moloney Securities Asset Management LLC’s holdings in Verizon Communications were worth $1,774,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the company. Citizens & Northern Corp increased its stake in shares of Verizon Communications by 15.7% in the fourth quarter. Citizens & Northern Corp now owns 12,649 shares of the cell phone carrier’s stock valued at $675,000 after buying an additional 1,718 shares in the last quarter. Massmutual Trust Co. FSB ADV bought a new stake in shares of Verizon Communications during the fourth quarter valued at about $4,774,000. Sunbelt Securities Inc. bought a new stake in shares of Verizon Communications during the fourth quarter valued at about $115,000. Fiduciary Financial Services of The Southwest Inc. TX increased its stake in shares of Verizon Communications by 0.6% in the fourth quarter. Fiduciary Financial Services of The Southwest Inc. TX now owns 102,396 shares of the cell phone carrier’s stock valued at $5,466,000 after buying an additional 622 shares in the last quarter. Finally, Gyroscope Capital Management Group LLC increased its stake in shares of Verizon Communications by 36.5% in the fourth quarter. Gyroscope Capital Management Group LLC now owns 6,193 shares of the cell phone carrier’s stock valued at $331,000 after buying an additional 1,656 shares in the last quarter. Institutional investors and hedge funds own 62.33% of the company’s stock.
Verizon Communications Inc. (NYSE:VZ) traded down 0.42% during midday trading on Friday, hitting $47.69. The stock had a trading volume of 16,919,130 shares. Verizon Communications Inc. has a 52 week low of $42.80 and a 52 week high of $54.83. The company has a market cap of $194.55 billion, a PE ratio of 12.26 and a beta of 0.56. The stock’s 50 day moving average price is $46.01 and its 200-day moving average price is $47.29.
Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Thursday, July 27th. The cell phone carrier reported $0.96 earnings per share (EPS) for the quarter, hitting 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 company had revenue of $30.55 billion during the quarter, compared to the consensus estimate of $29.84 billion. During the same quarter in the prior year, the firm earned $0.94 earnings per share. The firm’s revenue was up .1% compared to the same quarter last year. Equities research analysts predict that Verizon Communications Inc. will post $3.79 earnings per share for the current 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 4.84%. The ex-dividend date of this dividend was Thursday, July 6th. Verizon Communications’s dividend payout ratio is 59.23%.
Several analysts recently issued reports on the company. Argus downgraded Verizon Communications from a “buy” rating to a “hold” rating in a report on Friday, April 21st. Bank of America Corporation restated a “buy” rating on shares of Verizon Communications in a research note on Saturday, June 17th. Zacks Investment Research downgraded Verizon Communications from a “hold” rating to a “sell” rating in a research note on Tuesday, April 25th. Instinet restated a “neutral” rating and set a $46.00 target price (down from $47.00) on shares of Verizon Communications in a research note on Sunday, April 23rd. Finally, Royal Bank Of Canada restated a “hold” rating and set a $48.00 target price on shares of Verizon Communications in a research note on Sunday, July 9th. Two research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $52.73.
In other news, EVP Craig L. Silliman sold 610 shares of the 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 completion of the sale, the executive vice president now owns 8,429 shares of the company’s stock, valued at $379,305. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 1,830 shares of company stock valued at $84,229 in the last three months. 0.13% of the stock is owned by insiders.
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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