Buffington Mohr McNeal Trims Stake in Verizon Communications Inc. (VZ)
Buffington Mohr McNeal cut its position in Verizon Communications Inc. (NYSE:VZ) by 6.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 42,979 shares of the cell phone carrier’s stock after selling 3,138 shares during the quarter. Buffington Mohr McNeal’s holdings in Verizon Communications were worth $2,100,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of VZ. Vantage Financial Partners Ltd. Inc. bought a new position in Verizon Communications in the 2nd quarter valued at about $623,000. Mountain Capital Investment Advisors Inc bought a new position in Verizon Communications in the 2nd quarter valued at about $156,000. Regal Wealth Group Inc. lifted its position in Verizon Communications by 0.7% in the 2nd quarter. Regal Wealth Group Inc. now owns 3,682 shares of the cell phone carrier’s stock valued at $164,000 after acquiring an additional 24 shares in the last quarter. Camarda Financial Advisors LLC lifted its position in shares of 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 buying an additional 382 shares in the last quarter. Finally, Karp Capital Management Corp bought a new position in shares of Verizon Communications during the 3rd quarter worth approximately $195,000. Institutional investors own 63.21% of the company’s stock.
Shares of Verizon Communications Inc. (VZ) opened at $52.39 on Tuesday. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 4.05. The company has a market cap of $213,720.00, a P/E ratio of 13.43, a P/E/G ratio of 4.80 and a beta of 0.57. Verizon Communications Inc. has a 1-year low of $42.80 and a 1-year high of $53.69.
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 company had revenue of $31.70 billion for 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%. Verizon Communications’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.01 EPS. analysts expect that Verizon Communications Inc. will post 3.77 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Wednesday, January 10th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.50%. Verizon Communications’s dividend payout ratio (DPR) is presently 60.51%.
Several research firms have commented on VZ. Moffett Nathanson reissued a “buy” rating on shares of Verizon Communications in a research report on Thursday, October 12th. Cowen reissued a “hold” rating and set a $52.00 target price on shares of Verizon Communications in a research report on Tuesday, September 19th. KeyCorp reissued a “hold” rating on shares of Verizon Communications in a research report on Wednesday, October 11th. Robert W. Baird reissued a “hold” rating and set a $49.00 target price on shares of Verizon Communications in a research report on Wednesday, October 4th. Finally, ValuEngine raised shares of Verizon Communications from a “hold” rating to a “buy” rating in a research report on Monday, October 23rd. Two investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Verizon Communications has an average rating of “Hold” and a consensus target price of $51.98.
In related news, EVP Craig L. Silliman sold 610 shares of Verizon Communications stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $47.41, for a total value of $28,920.10. Following the sale, the executive vice president now owns 3,269 shares of the company’s stock, valued at approximately $154,983.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.13% of the company’s stock.
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Verizon Communications 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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