Financial Advisory Service Inc. Has $1.01 Million Stake in Verizon Communications Inc. (VZ)
Financial Advisory Service Inc. increased its stake in Verizon Communications Inc. (NYSE:VZ) by 81.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,790 shares of the cell phone carrier’s stock after buying an additional 9,328 shares during the period. Financial Advisory Service Inc.’s holdings in Verizon Communications were worth $1,014,000 as of its most recent filing with the SEC.
Other institutional investors also recently bought and sold shares of the company. Portfolio Solutions LLC bought a new position in Verizon Communications during the first quarter valued at approximately $179,000. Feltz Wealth PLAN Inc. bought a new position in Verizon Communications during the first quarter valued at approximately $184,000. Mascoma Wealth Management LLC increased its position 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 during the period. Strategic Financial Group LLC increased its position 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 during the period. Finally, Hays Advisory LLC increased its position in Verizon Communications by 11.8% in the first quarter. Hays Advisory LLC now owns 4,479 shares of the cell phone carrier’s stock valued at $218,000 after buying an additional 474 shares during the period. Institutional investors and hedge funds own 62.32% of the company’s stock.
Verizon Communications Inc. (NYSE VZ) traded down 0.10% on Friday, hitting $47.92. The stock had a trading volume of 11,455,202 shares. Verizon Communications Inc. has a 12-month low of $42.80 and a 12-month high of $54.83. The company has a 50 day moving average of $47.20 and a 200 day moving average of $47.27. The company has a market capitalization of $195.49 billion, a PE ratio of 12.32 and a beta of 0.57. Verizon Communications also was the target of some unusual options trading on Thursday. Traders acquired 16,770 call options on the company. This represents an increase of 115% compared to the typical volume of 7,797 call options.
Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Thursday, July 27th. The cell phone carrier reported $0.96 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.96. The business had revenue of $30.55 billion during the quarter, compared to the consensus estimate of $29.84 billion. Verizon Communications had a return on equity of 63.06% and a net margin of 12.88%. Verizon Communications’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the prior year, the business posted $0.94 earnings per share. On average, equities analysts expect that Verizon Communications Inc. will post $3.78 earnings per share for the current year.
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Several equities analysts recently commented on VZ shares. TheStreet upgraded Verizon Communications from a “c+” rating to a “b-” rating in a research report on Tuesday, August 8th. Bank of America Corporation restated a “buy” rating on shares of Verizon Communications in a research report on Saturday, June 17th. Vetr upgraded Verizon Communications from a “hold” rating to a “buy” rating and set a $47.62 target price for the company in a research report on Tuesday, May 23rd. Barclays PLC cut their target price on Verizon Communications from $49.00 to $47.00 and set an “equal weight” rating for the company in a research report on Friday, July 14th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $48.00 target price on shares of Verizon Communications in a research report on Thursday, May 25th. Two 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 given a strong buy rating to the company. Verizon Communications presently has an average rating of “Hold” and a consensus price target of $52.73.
In related news, EVP Craig L. Silliman sold 610 shares of the stock in a transaction on Friday, July 28th. The stock was sold at an average price of $47.74, for a total value of $29,121.40. Following the completion of the sale, the executive vice president now directly owns 7,819 shares in the company, valued at $373,279.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 1,830 shares of company stock valued at $86,248 over the last 90 days. 0.13% of the stock is currently owned by company insiders.
About Verizon Communications
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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