Verizon Communications Inc. (VZ) Holdings Lifted by Connecticut Wealth Management LLC
Connecticut Wealth Management LLC grew its position in Verizon Communications Inc. (NYSE:VZ) by 2.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,597 shares of the cell phone carrier’s stock after buying an additional 162 shares during the quarter. Connecticut Wealth Management LLC’s holdings in Verizon Communications were worth $285,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in the business. Ronna Sue Cohen boosted its holdings in shares of Verizon Communications by 0.4% in the second quarter. Ronna Sue Cohen now owns 4,832 shares of the cell phone carrier’s stock worth $216,000 after buying an additional 19 shares during the period. Oakmont Partners LLC boosted its holdings in shares of Verizon Communications by 0.3% in the second quarter. Oakmont Partners LLC now owns 6,391 shares of the cell phone carrier’s stock worth $285,000 after buying an additional 22 shares during the period. Conservest Capital Advisors Inc. boosted its holdings in shares of Verizon Communications by 0.5% in the second quarter. Conservest Capital Advisors Inc. now owns 5,024 shares of the cell phone carrier’s stock worth $224,000 after buying an additional 23 shares during the period. Nottingham Advisors Inc. boosted its holdings in shares of Verizon Communications by 0.5% in the second quarter. Nottingham Advisors Inc. now owns 6,425 shares of the cell phone carrier’s stock worth $287,000 after buying an additional 35 shares during the period. Finally, Cobblestone Capital Advisors LLC NY boosted its holdings in shares of Verizon Communications by 0.3% in the first quarter. Cobblestone Capital Advisors LLC NY now owns 19,401 shares of the cell phone carrier’s stock worth $946,000 after buying an additional 50 shares during the period. Institutional investors own 62.08% of the company’s stock.
Shares of Verizon Communications Inc. (NYSE VZ) opened at $47.42 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 4.05. The company has a market capitalization of $193,610.27, a PE ratio of 12.66, a price-to-earnings-growth ratio of 4.46 and a beta of 0.55.
Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Thursday, October 19th. The cell phone carrier reported $0.98 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.98. The business had revenue of $31.70 billion for the quarter, compared to the consensus estimate of $31.45 billion. Verizon Communications had a net margin of 12.80% and a return on equity of 58.66%. Verizon Communications’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the company posted $1.01 earnings per share. equities research analysts forecast that Verizon Communications Inc. will post 3.77 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th were paid a $0.59 dividend. This is an increase from Verizon Communications’s previous quarterly dividend of $0.58. The ex-dividend date was Friday, October 6th. This represents a $2.36 annualized dividend and a dividend yield of 4.98%. Verizon Communications’s dividend payout ratio (DPR) is presently 60.51%.
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In other news, EVP Craig L. Silliman sold 610 shares of the firm’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 sale, the executive vice president now owns 6,599 shares in the company, valued at $324,868.77. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In the last 90 days, insiders sold 1,830 shares of company stock worth $89,365. 0.13% of the stock is currently owned by corporate insiders.
VZ has been the subject of a number of research analyst reports. Royal Bank Of Canada reissued a “hold” rating and issued a $48.00 price target on shares of Verizon Communications in a research report on Sunday, July 9th. Zacks Investment Research raised shares of Verizon Communications from a “sell” rating to a “hold” rating in a research report on Friday, July 7th. BidaskClub raised shares of Verizon Communications from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Bank of America Corporation reduced their price target on shares of Verizon Communications from $59.00 to $50.00 and set a “buy” rating for the company in a research report on Thursday, July 13th. Finally, Barclays PLC reduced their price target on shares of Verizon Communications from $49.00 to $47.00 and set an “equal weight” rating for the company in a research report on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $52.75.
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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