Graybill Bartz & Assoc Ltd. Increases Position in Verizon Communications Inc. (VZ)
Graybill Bartz & Assoc Ltd. boosted its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 0.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 72,651 shares of the cell phone carrier’s stock after acquiring an additional 309 shares during the quarter. Verizon Communications accounts for about 2.6% of Graybill Bartz & Assoc Ltd.’s portfolio, making the stock its 16th largest position. Graybill Bartz & Assoc Ltd.’s holdings in Verizon Communications were worth $3,245,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Whitnell & Co. grew its holdings in Verizon Communications by 1.2% during the 2nd quarter. Whitnell & Co. now owns 10,316 shares of the cell phone carrier’s stock worth $461,000 after acquiring an additional 125 shares during the last quarter. Allegis Investment Advisors LLC grew its holdings in Verizon Communications by 9.0% during the 1st quarter. Allegis Investment Advisors LLC now owns 59,067 shares of the cell phone carrier’s stock worth $2,880,000 after acquiring an additional 4,898 shares during the last quarter. Segantii Capital Management Ltd bought a new stake in Verizon Communications during the 1st quarter worth approximately $6,094,000. Cascade Investment Advisors Inc. grew its holdings in Verizon Communications by 0.4% during the 1st quarter. Cascade Investment Advisors Inc. now owns 33,945 shares of the cell phone carrier’s stock worth $1,655,000 after acquiring an additional 125 shares during the last quarter. Finally, Carret Asset Management LLC grew its holdings in Verizon Communications by 1.5% during the 1st quarter. Carret Asset Management LLC now owns 177,172 shares of the cell phone carrier’s stock worth $8,637,000 after acquiring an additional 2,606 shares during the last quarter. 63.19% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have recently issued reports on VZ shares. Macquarie restated a “hold” rating and issued a $52.00 price target on shares of Verizon Communications in a research report on Sunday, October 22nd. SunTrust Banks, Inc. restated a “hold” rating and issued a $50.00 price target on shares of Verizon Communications in a research report on Friday, October 20th. Moffett Nathanson restated a “buy” rating on shares of Verizon Communications in a research report on Thursday, October 12th. Wells Fargo & Company upgraded shares of Verizon Communications from a “market perform” rating to an “outperform” rating and set a $50.00 price target on the stock in a research report on Monday. Finally, Cowen and Company restated a “hold” rating and issued a $52.00 price target on shares of Verizon Communications in a research report on Friday, July 28th. Two analysts have rated the stock with a sell rating, nineteen have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Verizon Communications has an average 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 on Wednesday, September 27th. The shares were 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 in the company, valued at approximately $324,868.77. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders have sold 1,830 shares of company stock worth $89,365. Corporate insiders own 0.13% of the company’s stock.
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Verizon Communications Inc. (NYSE VZ) opened at $46.20 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 1-year low of $42.80 and a 1-year high of $54.83. The firm has a market cap of $188,330.00, a price-to-earnings ratio of 12.11, a price-to-earnings-growth ratio of 4.27 and a beta of 0.55.
Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Thursday, October 19th. The cell phone carrier reported $0.98 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.98. Verizon Communications had a net margin of 12.80% and a return on equity of 58.66%. The firm had revenue of $31.70 billion for the quarter, compared to the consensus estimate of $31.45 billion. During the same quarter in the prior year, the company posted $1.01 earnings per share. The business’s revenue was up 2.5% on a year-over-year basis. equities analysts forecast that Verizon Communications Inc. will post 3.77 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th were issued a dividend of $0.59 per share. This is an increase from Verizon Communications’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Friday, October 6th. This represents a $2.36 annualized dividend and a yield of 5.11%. Verizon Communications’s dividend payout ratio is presently 60.51%.
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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