Regentatlantic Capital LLC Sells 3,147 Shares of Verizon Communications Inc. (VZ)
Regentatlantic Capital LLC decreased its stake in Verizon Communications Inc. (NYSE:VZ) by 5.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 59,484 shares of the cell phone carrier’s stock after selling 3,147 shares during the period. Regentatlantic Capital LLC’s holdings in Verizon Communications were worth $2,657,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of VZ. Franklin Parlapiano Turner & Welch LLC acquired a new stake in shares of Verizon Communications in the first quarter valued at about $136,000. American Beacon Advisors Inc. acquired a new stake in shares of Verizon Communications in the first quarter valued at about $140,000. Proficio Capital Partners LLC increased its stake in shares of Verizon Communications by 139.8% in the first quarter. Proficio Capital Partners LLC now owns 3,158 shares of the cell phone carrier’s stock valued at $142,000 after buying an additional 1,841 shares during the period. Camarda Financial Advisors LLC increased its stake in shares of Verizon Communications by 11.3% in the second quarter. Camarda Financial Advisors LLC now owns 3,749 shares of the cell phone carrier’s stock valued at $167,000 after buying an additional 382 shares during the period. Finally, Portfolio Solutions LLC acquired a new stake in shares of Verizon Communications in the first quarter valued at about $179,000. 62.23% of the stock is owned by institutional investors.
Several equities research analysts recently commented on VZ shares. Bank of America Corporation restated a “buy” rating on shares of Verizon Communications in a research report on Saturday, June 17th. 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 Sunday, July 9th. Zacks Investment Research lowered Verizon Communications from a “hold” rating to a “sell” rating in a research report on Thursday, July 13th. TheStreet upgraded Verizon Communications from a “c+” rating to a “b-” rating in a research report on Tuesday, August 8th. Finally, Vetr upgraded Verizon Communications from a “hold” rating to a “buy” rating and set a $47.62 target price on the stock in a research report on Tuesday, May 23rd. Two investment analysts have rated the stock with a sell rating, twenty-one have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Verizon Communications presently has a consensus rating of “Hold” and a consensus price target of $53.00.
In related news, EVP Craig L. Silliman sold 610 shares of the company’s stock in a transaction that occurred 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 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 Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders sold 1,830 shares of company stock worth $86,248. Insiders own 0.13% of the company’s stock.
Shares of Verizon Communications Inc. (NYSE VZ) traded up 2.527% during mid-day trading on Tuesday, hitting $49.305. The company had a trading volume of 19,794,019 shares. The firm has a market capitalization of $201.14 billion, a PE ratio of 12.675 and a beta of 0.57. The firm has a 50-day moving average price of $47.97 and a 200-day moving average price of $47.07. Verizon Communications Inc. has a 52 week low of $42.80 and a 52 week high of $54.83. Verizon Communications also was the recipient of unusually large options trading on Monday. Stock investors bought 27,514 call options on the company. This is an increase of 160% compared to the average volume of 10,571 call options.
Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Thursday, July 27th. The cell phone carrier reported $0.96 EPS for the quarter, hitting analysts’ consensus estimates of $0.96. Verizon Communications had a return on equity of 63.06% and a net margin of 12.88%. The firm had revenue of $30.55 billion for the quarter, compared to analysts’ expectations of $29.84 billion. During the same period in the previous year, the firm posted $0.94 EPS. The business’s revenue for the quarter was up .1% compared to the same quarter last year. Equities analysts forecast that Verizon Communications Inc. will post $3.78 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th will be given a $0.59 dividend. This is a boost from Verizon Communications’s previous quarterly dividend of $0.58. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.91%. The ex-dividend date of this dividend is Friday, October 6th. Verizon Communications’s payout ratio is currently 59.23%.
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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