Bernzott Capital Advisors grew its position in Verizon Communications Inc. (NYSE:VZ) by 2.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 109,846 shares of the cell phone carrier’s stock after acquiring an additional 2,424 shares during the period. Bernzott Capital Advisors’ holdings in Verizon Communications were worth $4,906,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of the company. Franklin Parlapiano Turner & Welch LLC bought a new position in Verizon Communications in the 1st quarter worth approximately $136,000. American Beacon Advisors Inc. acquired a new stake in Verizon Communications during the 1st quarter worth $140,000. Proficio Capital Partners LLC grew 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 worth $142,000 after acquiring an additional 1,841 shares during the period. Camarda Financial Advisors LLC grew its holdings in 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 worth $167,000 after acquiring an additional 382 shares during the period. Finally, Asset Advisors Corp grew its holdings in Verizon Communications by 2.5% during the 2nd quarter. Asset Advisors Corp now owns 4,085 shares of the cell phone carrier’s stock worth $182,000 after acquiring an additional 100 shares during the period. Institutional investors own 62.09% of the company’s stock.
In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of the firm’s 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 directly owns 6,599 shares in the company, valued at $324,868.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 1,830 shares of company stock valued at $89,365 over the last 90 days. Corporate insiders own 0.13% of the company’s stock.
Verizon Communications Inc. (NYSE:VZ) opened at $44.22 on Wednesday. The stock has a market cap of $183,085.31, a price-to-earnings ratio of 11.97, a PEG ratio of 4.22 and a beta of 0.55. 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 quick ratio of 1.02 and a current ratio of 1.07.
Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Thursday, October 19th. The cell phone carrier reported $0.98 EPS for the quarter, hitting analysts’ consensus estimates of $0.98. The business had revenue of $31.70 billion during the quarter, compared to analysts’ expectations of $31.45 billion. Verizon Communications had a net margin of 12.80% and a return on equity of 58.66%. The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period last year, the company posted $1.01 earnings per share. sell-side analysts forecast that Verizon Communications Inc. will post 3.77 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 5.34%. This is a boost 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 (DPR) is presently 60.51%.
Several equities analysts have recently issued reports on VZ shares. TheStreet raised shares of Verizon Communications from a “c+” rating to a “b-” rating in a report on Tuesday, August 8th. Bank of America Corporation set a $52.00 price target on shares of Verizon Communications and gave the company a “buy” rating in a report on Friday, October 20th. Moffett Nathanson reissued a “buy” rating on shares of Verizon Communications in a report on Thursday, October 12th. ValuEngine raised shares of Verizon Communications from a “hold” rating to a “buy” rating in a report on Monday, October 23rd. Finally, KeyCorp reissued a “hold” rating on shares of Verizon Communications in a report on Wednesday, October 11th. Two analysts have rated the stock with a sell rating, twenty have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Verizon Communications has an average rating of “Hold” and an average target price 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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