Nwam LLC Sells 2,948 Shares of Verizon Communications Inc. (VZ)
Nwam LLC reduced its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 6.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 40,579 shares of the cell phone carrier’s stock after selling 2,948 shares during the period. Nwam LLC’s holdings in Verizon Communications were worth $1,978,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in the stock. Baltimore Washington Financial Advisors Inc. acquired a new position in shares of Verizon Communications during the fourth quarter valued at $9,742,000. Portfolio Solutions LLC acquired a new position in shares of Verizon Communications during the first quarter valued at $179,000. Feltz Wealth PLAN Inc. acquired a new position in shares of Verizon Communications during the first quarter valued at $184,000. Mascoma Wealth Management LLC boosted its position in shares of 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 last quarter. Finally, Conestoga Capital Advisors LLC boosted its position in shares of 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 during the last quarter. 62.32% of the stock is currently owned by institutional investors and hedge funds.
Shares of Verizon Communications Inc. (NYSE VZ) traded down 0.25% on Tuesday, reaching $48.49. 998,956 shares of the company’s stock traded hands. The stock has a market cap of $197.81 billion, a price-to-earnings ratio of 12.47 and a beta of 0.56. The firm’s 50-day moving average is $46.51 and its 200-day moving average is $47.28. Verizon Communications Inc. has a 52-week low of $42.80 and a 52-week high of $54.83.
Verizon Communications (NYSE:VZ) last posted its earnings results on Thursday, July 27th. The cell phone carrier reported $0.96 earnings per share for the quarter, meeting the consensus estimate of $0.96. The firm had revenue of $30.55 billion during the quarter, compared to analyst estimates of $29.84 billion. Verizon Communications had a net margin of 12.88% and a return on equity of 63.06%. The business’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.94 EPS. Analysts anticipate that Verizon Communications Inc. will post $3.78 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th were issued a dividend of $0.5775 per share. This represents a $2.31 annualized dividend and a dividend yield of 4.75%. The ex-dividend date of this dividend was Thursday, July 6th. Verizon Communications’s dividend payout ratio (DPR) is 59.23%.
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VZ has been the topic of several recent research reports. TheStreet upgraded shares of Verizon Communications from a “c+” rating to a “b-” rating in a research note on Tuesday, August 8th. Bank of America Corporation reiterated a “buy” rating on shares of Verizon Communications in a research note on Saturday, June 17th. Royal Bank Of Canada reiterated a “hold” rating and issued a $48.00 price objective on shares of Verizon Communications in a research note on Thursday, May 25th. ValuEngine lowered shares of Verizon Communications from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, BTIG Research reiterated a “neutral” rating on shares of Verizon Communications in a research note on Tuesday, May 30th. Two analysts have rated the stock with a sell rating, twenty-two have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $52.73.
In other news, EVP Craig L. Silliman sold 610 shares of Verizon Communications stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $47.74, for a total transaction of $29,121.40. Following the completion of the transaction, the executive vice president now directly owns 7,819 shares of the company’s stock, valued at approximately $373,279.06. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.13% of the stock is owned by 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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