Verizon Communications Inc. (VZ) Holdings Reduced by Dorsey & Whitney Trust CO LLC
Dorsey & Whitney Trust CO LLC cut its position in Verizon Communications Inc. (NYSE:VZ) by 16.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 45,978 shares of the cell phone carrier’s stock after selling 8,790 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in Verizon Communications were worth $2,275,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in VZ. Vantage Financial Partners Ltd. Inc. bought a new position in shares of Verizon Communications in the second quarter worth about $623,000. Shine Investment Advisory Services Inc. raised its stake in shares of Verizon Communications by 190.9% in the third quarter. Shine Investment Advisory Services Inc. now owns 2,705 shares of the cell phone carrier’s stock worth $134,000 after acquiring an additional 1,775 shares during the last quarter. Legacy Advisors LLC bought a new position in shares of Verizon Communications in the third quarter worth about $132,000. Mountain Capital Investment Advisors Inc bought a new position in shares of Verizon Communications in the second quarter worth about $156,000. Finally, Regal Wealth Group Inc. raised its stake in shares of Verizon Communications by 0.7% in the second quarter. Regal Wealth Group Inc. now owns 3,682 shares of the cell phone carrier’s stock worth $164,000 after acquiring an additional 24 shares during the last quarter. Hedge funds and other institutional investors own 63.31% of the company’s stock.
VZ has been the subject of a number of recent research reports. Nomura raised shares of Verizon Communications from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $47.00 to $61.00 in a research note on Tuesday, December 12th. Vetr raised shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $54.80 price target for the company in a research note on Monday, February 5th. KeyCorp reissued a “hold” rating on shares of Verizon Communications in a research note on Saturday, October 21st. Macquarie reissued a “hold” rating and set a $52.00 price target on shares of Verizon Communications in a research note on Sunday, October 22nd. Finally, ValuEngine raised shares of Verizon Communications from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and ten have assigned a buy rating to the company. Verizon Communications currently has an average rating of “Hold” and a consensus target price of $53.51.
Shares of Verizon Communications Inc. (VZ) opened at $49.51 on Thursday. Verizon Communications Inc. has a 12 month low of $42.80 and a 12 month high of $54.77. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.54. The company has a market cap of $201,970.00, a P/E ratio of 15.19, a price-to-earnings-growth ratio of 2.04 and a beta of 0.58.
Verizon Communications (NYSE:VZ) last issued its earnings results on Tuesday, January 23rd. The cell phone carrier reported $0.86 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by ($0.02). Verizon Communications had a net margin of 23.88% and a return on equity of 48.97%. The firm had revenue of $33.96 billion during the quarter, compared to the consensus estimate of $33.20 billion. During the same period in the previous year, the company posted $0.86 EPS. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. equities research analysts forecast that Verizon Communications Inc. will post 4.54 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 4.77%. The ex-dividend date was Tuesday, January 9th. Verizon Communications’s dividend payout ratio (DPR) is presently 72.39%.
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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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