First Personal Financial Services Acquires 29,367 Shares of Verizon Communications Inc. (VZ)
First Personal Financial Services increased its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 62.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 76,081 shares of the cell phone carrier’s stock after buying an additional 29,367 shares during the period. First Personal Financial Services’ holdings in Verizon Communications were worth $3,398,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the stock. Franklin Parlapiano Turner & Welch LLC acquired a new position in shares of Verizon Communications in the 1st quarter worth approximately $136,000. American Beacon Advisors Inc. acquired a new position in shares of Verizon Communications during the 1st quarter valued at $140,000. Proficio Capital Partners LLC lifted its position in shares of Verizon Communications by 139.8% during the 1st quarter. Proficio Capital Partners LLC now owns 3,158 shares of the cell phone carrier’s stock valued at $142,000 after acquiring an additional 1,841 shares during the period. 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 valued at $167,000 after acquiring an additional 382 shares during the period. Finally, Asset Advisors Corp lifted its position in shares of Verizon Communications by 2.5% during the 2nd quarter. Asset Advisors Corp now owns 4,085 shares of the cell phone carrier’s stock valued at $182,000 after acquiring an additional 100 shares during the period. Institutional investors and hedge funds own 62.09% of the company’s stock.
Verizon Communications Inc. (NYSE VZ) opened at $44.11 on Thursday. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 4.05. Verizon Communications Inc. has a fifty-two week low of $42.80 and a fifty-two week high of $54.83. The stock has a market cap of $179,940.00, a P/E ratio of 11.93, a PEG ratio of 4.21 and a beta of 0.55.
Verizon Communications (NYSE:VZ) last announced 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. Verizon Communications had a return on equity of 58.66% and a net margin of 12.80%. The company had revenue of $31.70 billion during the quarter, compared to analyst estimates of $31.45 billion. During the same quarter last year, the firm posted $1.01 earnings per share. The firm’s revenue was up 2.5% on a year-over-year basis. research analysts forecast that Verizon Communications Inc. will post 3.77 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th were paid a $0.59 dividend. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.58. The ex-dividend date was Friday, October 6th. This represents a $2.36 dividend on an annualized basis and a yield of 5.35%. Verizon Communications’s dividend payout ratio (DPR) is presently 60.51%.
A number of research firms recently issued reports on VZ. ValuEngine upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating in a research report on Monday, October 23rd. Macquarie reiterated a “hold” rating and set a $52.00 target price on shares of Verizon Communications in a research report on Sunday, October 22nd. KeyCorp reiterated a “hold” rating on shares of Verizon Communications in a research report on Saturday, October 21st. Bank of America Corporation set a $52.00 price target on shares of Verizon Communications and gave the company a “buy” rating in a research note on Friday, October 20th. Finally, SunTrust Banks, Inc. restated a “hold” rating and set a $50.00 price target on shares of Verizon Communications in a research note on Friday, October 20th. Two research analysts have rated the stock with a sell rating, twenty have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $52.75.
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In related news, EVP Craig L. Silliman sold 610 shares of the firm’s stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $49.23, for a total value of $30,030.30. Following the completion of the sale, the executive vice president now owns 6,599 shares of the company’s stock, valued at $324,868.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 1,830 shares of company stock valued at $89,365 in the last ninety days. 0.13% of the stock is currently owned by 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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