Clark Estates Inc. NY Has $34.60 Million Stake in Verizon Communications Inc. (VZ)
Clark Estates Inc. NY grew its position in Verizon Communications Inc. (NYSE:VZ) by 77.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 774,832 shares of the cell phone carrier’s stock after purchasing an additional 337,000 shares during the period. Verizon Communications makes up approximately 5.9% of Clark Estates Inc. NY’s investment portfolio, making the stock its 3rd largest holding. Clark Estates Inc. NY’s holdings in Verizon Communications were worth $34,604,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of the company. Franklin Parlapiano Turner & Welch LLC bought a new stake in Verizon Communications during the first quarter worth about $136,000. American Beacon Advisors Inc. bought a new stake in Verizon Communications during the first quarter worth about $140,000. Proficio Capital Partners LLC raised its holdings in Verizon Communications by 139.8% during the first 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 in the last quarter. Camarda Financial Advisors LLC raised its holdings in Verizon Communications by 11.3% during the second 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 in the last quarter. Finally, Asset Advisors Corp raised its holdings in Verizon Communications by 2.5% during the second 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 in the last quarter. Institutional investors own 62.05% of the company’s stock.
VZ has been the topic of several analyst reports. TheStreet upgraded Verizon Communications from a “c+” rating to a “b-” rating in a report on Tuesday, August 8th. Moffett Nathanson reissued a “buy” rating on shares of Verizon Communications in a research report on Thursday, October 12th. Bank of America Corporation lowered their price target on Verizon Communications from $59.00 to $50.00 and set a “buy” rating on the stock in a research report on Thursday, July 13th. ValuEngine raised Verizon Communications from a “hold” rating to a “buy” rating in a research report on Monday, October 23rd. Finally, Barclays PLC lowered their price target on Verizon Communications from $49.00 to $47.00 and set an “equal weight” rating on the stock in a research report on Friday, July 14th. Two investment analysts have rated the stock with a sell rating, twenty have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $52.75.
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In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of the company’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $48.62, for a total transaction of $29,658.20. Following the completion of the sale, the executive vice president now directly owns 5,989 shares in the company, valued at $291,185.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have 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.
Shares of Verizon Communications Inc. (NYSE:VZ) opened at $45.54 on Tuesday. 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 Inc. has a 12 month low of $42.80 and a 12 month high of $54.83. The firm has a market capitalization of $193,447.08, a price-to-earnings ratio of 12.65, a price-to-earnings-growth ratio of 4.46 and a beta of 0.55.
Verizon Communications (NYSE:VZ) last released its earnings results on Thursday, October 19th. The cell phone carrier reported $0.98 earnings per share for the quarter, hitting the consensus estimate of $0.98. Verizon Communications had a return on equity of 58.66% and a net margin of 12.80%. The firm had revenue of $31.70 billion during the quarter, compared to analysts’ expectations of $31.45 billion. During the same period in the prior year, the company earned $1.01 earnings per share. The company’s quarterly revenue was up 2.5% on a year-over-year basis. equities analysts anticipate that Verizon Communications Inc. will post 3.77 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th were paid a dividend of $0.59 per share. The ex-dividend date was Friday, October 6th. This is a boost from Verizon Communications’s previous quarterly dividend of $0.58. This represents a $2.36 annualized dividend and a yield of 5.18%. Verizon Communications’s dividend payout ratio is presently 60.51%.
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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