Tiemann Investment Advisors LLC reduced its stake in Verizon Communications Inc. (NYSE:VZ) by 4.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,067 shares of the cell phone carrier’s stock after selling 600 shares during the period. Tiemann Investment Advisors LLC’s holdings in Verizon Communications were worth $686,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Alley Co LLC increased its stake in Verizon Communications by 8.8% in the first quarter. Alley Co LLC now owns 82,877 shares of the cell phone carrier’s stock valued at $4,040,000 after buying an additional 6,689 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Verizon Communications during the first quarter worth $726,000. Aberdeen Asset Management PLC UK boosted its stake in shares of Verizon Communications by 2.5% in the first quarter. Aberdeen Asset Management PLC UK now owns 4,160,118 shares of the cell phone carrier’s stock worth $202,805,000 after buying an additional 102,629 shares during the last quarter. Peapack Gladstone Financial Corp boosted its stake in shares of Verizon Communications by 4.6% in the first quarter. Peapack Gladstone Financial Corp now owns 278,003 shares of the cell phone carrier’s stock worth $13,553,000 after buying an additional 12,114 shares during the last quarter. Finally, Arthur M. Cohen & Associates LLC boosted its stake in shares of Verizon Communications by 7.2% in the first quarter. Arthur M. Cohen & Associates LLC now owns 88,564 shares of the cell phone carrier’s stock worth $4,317,000 after buying an additional 5,968 shares during the last quarter. 62.33% of the stock is owned by institutional investors.
Shares of Verizon Communications Inc. (VZ) opened at 47.69 on Friday. Verizon Communications Inc. has a 12 month low of $42.80 and a 12 month high of $54.83. The firm has a market capitalization of $194.55 billion, a P/E ratio of 12.26 and a beta of 0.56. The company has a 50 day moving average of $46.01 and a 200-day moving average of $47.29.
Verizon Communications (NYSE:VZ) last announced its earnings results on Thursday, July 27th. The cell phone carrier reported $0.96 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.96. Verizon Communications had a return on equity of 63.06% and a net margin of 12.88%. The business had revenue of $30.55 billion for the quarter, compared to analysts’ expectations of $29.84 billion. During the same period in the prior year, the business posted $0.94 earnings per share. The firm’s revenue was up .1% on a year-over-year basis. Analysts predict that Verizon Communications Inc. will post $3.79 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Monday, July 10th were issued a $0.5775 dividend. This represents a $2.31 annualized dividend and a yield of 4.84%. The ex-dividend date was Thursday, July 6th. Verizon Communications’s payout ratio is presently 59.23%.
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VZ has been the subject of a number of analyst reports. Argus cut shares of Verizon Communications from a “buy” rating to a “hold” rating in a research note on Friday, April 21st. Royal Bank Of Canada reiterated a “hold” rating and set a $48.00 target price on shares of Verizon Communications in a research note on Friday, April 21st. Macquarie reiterated a “neutral” rating and set a $49.00 target price (down from $50.00) on shares of Verizon Communications in a research note on Sunday, April 23rd. Jefferies Group LLC reiterated a “hold” rating and set a $50.00 target price (down from $51.00) on shares of Verizon Communications in a research note on Sunday, April 23rd. Finally, Deutsche Bank AG reiterated a “hold” 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. Two 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 given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $52.73.
In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $45.34, for a total value of $27,657.40. Following the transaction, the executive vice president now directly owns 9,039 shares of the company’s stock, valued at $409,828.26. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders sold 1,830 shares of company stock worth $84,229. Insiders own 0.13% of the company’s stock.
About Verizon Communications
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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