Verizon Communications Inc. (VZ) Shares Bought by Denver Investment Advisors LLC
Denver Investment Advisors LLC boosted its position in shares of Verizon Communications Inc. (NYSE:VZ) by 4.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,088 shares of the cell phone carrier’s stock after acquiring an additional 709 shares during the quarter. Denver Investment Advisors LLC’s holdings in Verizon Communications were worth $718,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Mycio Wealth Partners LLC raised its position in Verizon Communications by 10.3% in the 1st quarter. Mycio Wealth Partners LLC now owns 26,057 shares of the cell phone carrier’s stock valued at $1,270,000 after purchasing an additional 2,436 shares in the last quarter. Cubic Asset Management LLC raised its position in Verizon Communications by 1.5% in the 1st quarter. Cubic Asset Management LLC now owns 27,475 shares of the cell phone carrier’s stock valued at $1,339,000 after purchasing an additional 401 shares in the last quarter. First Mercantile Trust Co. raised its position in Verizon Communications by 7.3% in the 1st quarter. First Mercantile Trust Co. now owns 65,951 shares of the cell phone carrier’s stock valued at $3,215,000 after purchasing an additional 4,461 shares in the last quarter. Delta Asset Management LLC TN raised its position in Verizon Communications by 3.1% in the 1st quarter. Delta Asset Management LLC TN now owns 62,986 shares of the cell phone carrier’s stock valued at $3,071,000 after purchasing an additional 1,918 shares in the last quarter. Finally, Duncker Streett & Co. Inc. raised its position in Verizon Communications by 4.3% in the 1st quarter. Duncker Streett & Co. Inc. now owns 54,005 shares of the cell phone carrier’s stock valued at $2,633,000 after purchasing an additional 2,249 shares in the last quarter. Institutional investors own 62.05% of the company’s stock.
Shares of Verizon Communications Inc. (NYSE:VZ) opened at $44.88 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 4.05. Verizon Communications Inc. has a 12 month low of $42.80 and a 12 month high of $54.83. The firm has a market capitalization of $183,860.41, a P/E ratio of 12.02, a P/E/G ratio of 4.24 and a beta of 0.55.
Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Thursday, October 19th. The cell phone carrier reported $0.98 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.98. Verizon Communications had a return on equity of 58.66% and a net margin of 12.80%. The firm had revenue of $31.70 billion for the quarter, compared to the consensus estimate of $31.45 billion. During the same period in the previous year, the business earned $1.01 earnings per share. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. research analysts anticipate that Verizon Communications Inc. will post 3.77 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th were paid a $0.59 dividend. The ex-dividend date of this dividend was Friday, October 6th. This is an increase 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 5.26%. Verizon Communications’s payout ratio is 60.51%.
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Several equities research analysts have recently weighed in on the company. Moffett Nathanson reissued a “buy” rating on shares of Verizon Communications in a research report on Thursday, October 12th. TheStreet raised Verizon Communications from a “c+” rating to a “b-” rating in a research report on Tuesday, August 8th. Cowen and Company reissued a “hold” rating and set a $52.00 target price on shares of Verizon Communications in a research report on Friday, July 28th. Robert W. Baird reissued a “hold” rating and set a $49.00 target price on shares of Verizon Communications in a research report on Wednesday, October 4th. Finally, ValuEngine raised Verizon Communications from a “hold” rating to a “buy” rating in a research report on Monday, October 23rd. Two equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Verizon Communications presently has a consensus rating of “Hold” and a consensus target price of $52.75.
In related news, EVP Craig L. Silliman sold 610 shares of Verizon Communications stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $49.23, for a total transaction of $30,030.30. Following the completion of the transaction, the executive vice president now directly owns 6,599 shares of the company’s stock, valued at $324,868.77. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders sold 1,830 shares of company stock worth $89,365. Company insiders own 0.13% of the company’s stock.
About Verizon Communications
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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