Geneva Advisors LLC Has $2.74 Million Position in Verizon Communications Inc. (VZ)
Geneva Advisors LLC cut its stake in Verizon Communications Inc. (NYSE:VZ) by 2.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,353 shares of the cell phone carrier’s stock after selling 1,321 shares during the period. Geneva Advisors LLC’s holdings in Verizon Communications were worth $2,740,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the stock. Franklin Parlapiano Turner & Welch LLC bought a new position in shares of Verizon Communications during the 1st quarter worth approximately $136,000. American Beacon Advisors Inc. bought a new position in shares of Verizon Communications during the 1st quarter worth approximately $140,000. Proficio Capital Partners LLC boosted its holdings 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 worth $142,000 after buying an additional 1,841 shares in the last quarter. Private Vista LLC boosted its holdings in shares of Verizon Communications by 3,339.1% during the 2nd quarter. Private Vista LLC now owns 389,552 shares of the cell phone carrier’s stock worth $143,000 after buying an additional 378,225 shares in the last quarter. Finally, Camarda Financial Advisors LLC boosted its holdings 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 worth $167,000 after buying an additional 382 shares in the last quarter. Institutional investors and hedge funds own 63.19% of the company’s stock.
A number of equities analysts have issued reports on VZ shares. Macquarie restated a “hold” rating and set a $52.00 price target on shares of Verizon Communications in a report on Sunday, October 22nd. SunTrust Banks, Inc. restated a “hold” rating and set a $50.00 price target on shares of Verizon Communications in a report on Friday, October 20th. Moffett Nathanson restated a “buy” rating on shares of Verizon Communications in a report on Thursday, October 12th. Wells Fargo & Company upgraded Verizon Communications from a “market perform” rating to an “outperform” rating and set a $50.00 price target on the stock in a report on Monday, November 20th. Finally, Cowen Inc restated a “hold” rating and set a $52.00 price target on shares of Verizon Communications in a report on Tuesday, September 19th. Two analysts have rated the stock with a sell rating, nineteen have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $51.25.
In other news, EVP Craig L. Silliman sold 610 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 5,989 shares of the company’s stock, valued at $291,185.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 1,830 shares of company stock worth $89,365 over the last ninety days. 0.13% of the stock is owned by insiders.
Shares of Verizon Communications Inc. (NYSE VZ) traded down $0.09 during trading hours on Friday, hitting $47.01. The stock had a trading volume of 5,100,000 shares, compared to its average volume of 16,828,294. The company has a debt-to-equity ratio of 4.05, a current ratio of 1.07 and a quick ratio of 1.02. Verizon Communications Inc. has a one year low of $42.80 and a one year high of $54.83. The firm has a market capitalization of $191,774.52, a price-to-earnings ratio of 12.54, a price-to-earnings-growth ratio of 4.42 and a beta of 0.55.
Verizon Communications (NYSE:VZ) last issued its earnings results on Thursday, October 19th. The cell phone carrier reported $0.98 earnings per share 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 for the quarter, compared to analyst estimates of $31.45 billion. During the same period in the prior year, the firm earned $1.01 earnings per share. Verizon Communications’s revenue for the quarter was up 2.5% on a year-over-year basis. research analysts anticipate that Verizon Communications Inc. will post 3.77 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 5.02%. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.58. The ex-dividend date was Friday, October 6th. Verizon Communications’s dividend payout ratio is presently 60.51%.
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.
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 Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verizon Communications Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.