Verizon Communications Inc. (VZ) Holdings Increased by Moors & Cabot Inc.
Moors & Cabot Inc. grew its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 0.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 166,222 shares of the cell phone carrier’s stock after buying an additional 49 shares during the period. Verizon Communications accounts for about 1.2% of Moors & Cabot Inc.’s holdings, making the stock its 11th largest holding. Moors & Cabot Inc.’s holdings in Verizon Communications were worth $7,414,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in VZ. Franklin Parlapiano Turner & Welch LLC purchased a new stake in Verizon Communications during the 1st quarter worth about $136,000. American Beacon Advisors Inc. purchased a new stake in Verizon Communications during the 1st quarter worth about $140,000. Proficio Capital Partners LLC lifted its holdings in 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 during the last quarter. Private Vista LLC lifted its holdings in 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 during the last quarter. Finally, Regal Wealth Group Inc. lifted its holdings in Verizon Communications by 0.7% during the 2nd quarter. Regal Wealth Group Inc. now owns 3,682 shares of the cell phone carrier’s stock worth $164,000 after buying an additional 24 shares during the last quarter. 63.37% of the stock is owned by institutional investors.
A number of brokerages have issued reports on VZ. Bank of America set a $52.00 price target on Verizon Communications and gave the stock a “buy” rating in a report on Friday, October 20th. Robert W. Baird reaffirmed a “hold” rating and set a $49.00 price target on shares of Verizon Communications in a report on Wednesday, October 4th. ValuEngine upgraded Verizon Communications from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. KeyCorp reiterated a “hold” rating on shares of Verizon Communications in a research report on Saturday, October 21st. Finally, Cowen reiterated a “hold” rating and set a $52.00 target price on shares of Verizon Communications in a research report on Tuesday, September 19th. Two research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, nine 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 $52.43.
In related news, EVP Craig L. Silliman sold 610 shares of the business’s stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $49.23, for a total value of $30,030.30. Following the transaction, the executive vice president now owns 6,599 shares in the company, valued at approximately $324,868.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 1,830 shares of company stock worth $88,609 in the last 90 days. 0.13% of the stock is currently owned by insiders.
Shares of Verizon Communications Inc. (NYSE VZ) traded up $1.22 during mid-day trading on Tuesday, reaching $53.06. The company had a trading volume of 14,340,000 shares, compared to its average volume of 18,310,000. The firm has a market cap of $216,480.00, a PE ratio of 13.62, a PEG ratio of 4.80 and a beta of 0.57. Verizon Communications Inc. has a 1 year low of $42.80 and a 1 year high of $54.83. 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 (NYSE:VZ) last issued its quarterly earnings results on Thursday, October 19th. The cell phone carrier reported $0.98 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.98. The firm had revenue of $31.70 billion for the quarter, compared to analysts’ expectations of $31.45 billion. Verizon Communications had a return on equity of 58.66% and a net margin of 12.80%. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.01 EPS. equities research analysts predict that Verizon Communications Inc. will post 3.77 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Wednesday, January 10th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 4.45%. The ex-dividend date of this dividend is Tuesday, January 9th. Verizon Communications’s dividend payout ratio (DPR) 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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