Cobblestone Capital Advisors LLC NY Acquires 50 Shares of Verizon Communications Inc. (VZ)
Cobblestone Capital Advisors LLC NY raised its position in shares of Verizon Communications Inc. (NYSE:VZ) by 0.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,401 shares of the cell phone carrier’s stock after buying an additional 50 shares during the period. Cobblestone Capital Advisors LLC NY’s holdings in Verizon Communications were worth $946,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Portfolio Solutions LLC purchased a new stake in Verizon Communications during the first quarter valued at $179,000. Feltz Wealth PLAN Inc. purchased a new stake in Verizon Communications during the first quarter valued at $184,000. Mascoma Wealth Management LLC boosted its stake in Verizon Communications by 10.5% in the first quarter. Mascoma Wealth Management LLC now owns 4,227 shares of the cell phone carrier’s stock valued at $206,000 after buying an additional 403 shares in the last quarter. Strategic Financial Group LLC boosted its stake in Verizon Communications by 2.3% in the first quarter. Strategic Financial Group LLC now owns 4,356 shares of the cell phone carrier’s stock valued at $212,000 after buying an additional 100 shares in the last quarter. Finally, Conestoga Capital Advisors LLC boosted its stake in Verizon Communications by 9.8% in the first quarter. Conestoga Capital Advisors LLC now owns 4,462 shares of the cell phone carrier’s stock valued at $218,000 after buying an additional 400 shares in the last quarter. 62.32% of the stock is owned by institutional investors.
Verizon Communications Inc. (NYSE VZ) traded down 0.567% during mid-day trading on Wednesday, reaching $48.235. 2,097,244 shares of the company’s stock were exchanged. The stock has a market cap of $196.77 billion, a price-to-earnings ratio of 12.400 and a beta of 0.56. The stock has a 50-day moving average of $46.51 and a 200-day moving average of $47.29. Verizon Communications Inc. has a one year low of $42.80 and a one year high of $54.83.
Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Thursday, July 27th. The cell phone carrier reported $0.96 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.96. Verizon Communications had a return on equity of 63.06% and a net margin of 12.88%. The firm had revenue of $30.55 billion during the quarter, compared to analyst estimates of $29.84 billion. During the same period last year, the company earned $0.94 EPS. Verizon Communications’s quarterly revenue was up .1% compared to the same quarter last year. On average, equities research analysts anticipate that Verizon Communications Inc. will post $3.78 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Monday, July 10th were paid a dividend of $0.5775 per share. This represents a $2.31 dividend on an annualized basis and a dividend yield of 4.76%. The ex-dividend date of this dividend was Thursday, July 6th. Verizon Communications’s dividend payout ratio is currently 59.23%.
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Several research firms recently weighed in on VZ. Bank of America Corporation reaffirmed a “buy” rating on shares of Verizon Communications in a research report on Saturday, June 17th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $48.00 price objective on shares of Verizon Communications in a research report on Sunday, July 9th. Zacks Investment Research cut shares of Verizon Communications from a “hold” rating to a “sell” rating in a research report on Thursday, July 13th. TheStreet raised shares of Verizon Communications from a “c+” rating to a “b-” rating in a research report on Tuesday, August 8th. Finally, Vetr raised shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $47.62 price objective for the company in a research report on Tuesday, May 23rd. Two equities research analysts have rated the stock with a sell rating, twenty-two have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $52.73.
In related news, EVP Craig L. Silliman sold 610 shares of the firm’s stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $47.74, for a total transaction of $29,121.40. Following the completion of the sale, the executive vice president now directly owns 7,819 shares of the company’s stock, valued at approximately $373,279.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 1,830 shares of company stock valued at $86,248 over the last three months. 0.13% of the stock is owned by corporate insiders.
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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