Cable Hill Partners LLC Boosts Holdings in Verizon Communications Inc. (VZ)
Cable Hill Partners LLC boosted its stake in Verizon Communications Inc. (NYSE:VZ) by 106.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,898 shares of the cell phone carrier’s stock after purchasing an additional 9,244 shares during the quarter. Verizon Communications comprises about 0.4% of Cable Hill Partners LLC’s holdings, making the stock its 15th biggest position. Cable Hill Partners LLC’s holdings in Verizon Communications were worth $886,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently bought and sold shares of VZ. Linscomb & Williams Inc. lifted its stake in shares of Verizon Communications by 3.8% in the third quarter. Linscomb & Williams Inc. now owns 96,755 shares of the cell phone carrier’s stock valued at $4,788,000 after buying an additional 3,529 shares in the last quarter. Bollard Group LLC lifted its stake in shares of Verizon Communications by 1.9% in the third quarter. Bollard Group LLC now owns 458,218 shares of the cell phone carrier’s stock valued at $22,677,000 after buying an additional 8,536 shares in the last quarter. SOL Capital Management CO lifted its stake in shares of Verizon Communications by 12.6% in the third quarter. SOL Capital Management CO now owns 14,954 shares of the cell phone carrier’s stock valued at $740,000 after buying an additional 1,670 shares in the last quarter. Crossmark Global Holdings Inc. bought a new position in shares of Verizon Communications in the third quarter valued at $25,235,000. Finally, Hudock Capital Group LLC lifted its stake in shares of Verizon Communications by 8.2% in the third quarter. Hudock Capital Group LLC now owns 56,457 shares of the cell phone carrier’s stock valued at $2,794,000 after buying an additional 4,259 shares in the last quarter. Institutional investors and hedge funds own 63.22% of the company’s stock.
A number of research analysts have weighed in on VZ shares. Wells Fargo & Co raised shares of Verizon Communications from a “market perform” rating to an “outperform” rating and set a $50.00 price objective on the stock in a research note on Monday, November 20th. Instinet raised their price objective on shares of Verizon Communications from $47.00 to $61.00 and gave the company a “buy” rating in a research note on Tuesday, December 12th. SunTrust Banks reaffirmed a “hold” rating and issued a $50.00 price objective on shares of Verizon Communications in a research note on Friday, October 20th. Nomura raised shares of Verizon Communications from a “neutral” rating to a “buy” rating and raised their price objective for the company from $47.00 to $61.00 in a research note on Tuesday, December 12th. Finally, Bank of America set a $52.00 price objective on shares of Verizon Communications and gave the company a “buy” rating in a research note on Friday, October 20th. Two equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $51.98.
Verizon Communications Inc. (NYSE:VZ) opened at $52.48 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 4.05. Verizon Communications Inc. has a 12-month low of $42.80 and a 12-month high of $53.78. The firm has a market cap of $214,090.00, a PE ratio of 13.46, a P/E/G ratio of 4.80 and a beta of 0.57.
Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Thursday, October 19th. The cell phone carrier reported $0.98 EPS for the quarter, hitting the consensus estimate of $0.98. The business had revenue of $31.70 billion for 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 for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.01 earnings per share. research analysts predict that Verizon Communications Inc. will post 3.77 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 4.50%. The ex-dividend date is Tuesday, January 9th. Verizon Communications’s dividend payout ratio is 60.51%.
In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of Verizon Communications stock in a transaction dated 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 $154,983.29. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.13% of the company’s stock.
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.
Want to see what other hedge funds are holding VZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Verizon Communications Inc. (NYSE:VZ).
Receive News & Ratings for Verizon Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verizon Communications and related companies with Analyst Ratings Network's FREE daily email newsletter.