Verizon Communications Inc. (VZ) Shares Bought by Girard Partners LTD.
Girard Partners LTD. grew its position in Verizon Communications Inc. (NYSE:VZ) by 8.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 124,924 shares of the cell phone carrier’s stock after buying an additional 9,546 shares during the period. Verizon Communications makes up 1.2% of Girard Partners LTD.’s portfolio, making the stock its 21st largest position. Girard Partners LTD.’s holdings in Verizon Communications were worth $5,579,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the company. Franklin Parlapiano Turner & Welch LLC acquired a new position in Verizon Communications in the 1st quarter worth $136,000. American Beacon Advisors Inc. acquired a new position in Verizon Communications in the 1st quarter worth $140,000. Proficio Capital Partners LLC boosted its stake in Verizon Communications by 139.8% in the 1st quarter. Proficio Capital Partners LLC now owns 3,158 shares of the cell phone carrier’s stock worth $142,000 after purchasing an additional 1,841 shares during the period. Private Vista LLC lifted its position 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 in the last quarter. Finally, Camarda Financial Advisors LLC lifted its position in Verizon Communications by 11.3% during the 2nd quarter. Camarda Financial Advisors LLC now owns 3,749 shares of the cell phone carrier’s stock worth $167,000 after buying an additional 382 shares in the last quarter. 63.37% of the stock is owned by institutional investors.
In other news, EVP Craig L. Silliman sold 610 shares of the company’s stock in a transaction dated 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 directly owns 6,599 shares of the company’s stock, valued at approximately $324,868.77. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders sold 1,830 shares of company stock worth $88,609. 0.13% of the stock is owned by insiders.
Several equities research analysts have commented on the stock. Bank of America set a $52.00 price target on shares of Verizon Communications and gave the stock a “buy” rating in a research report on Friday, October 20th. TheStreet raised shares of Verizon Communications from a “c+” rating to a “b-” rating in a research report on Tuesday, August 8th. Robert W. Baird reissued a “hold” rating and set a $49.00 price target on shares of Verizon Communications in a research report on Wednesday, October 4th. ValuEngine raised shares of Verizon Communications from a “hold” rating to a “buy” rating in a research report on Friday. Finally, KeyCorp reissued a “hold” rating on shares of Verizon Communications in a research report on Saturday, October 21st. Two equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $51.25.
Shares of Verizon Communications Inc. (NYSE:VZ) traded down $0.88 during mid-day trading on Tuesday, hitting $50.84. 14,066,732 shares of the stock were exchanged, compared to its average volume of 15,631,953. The company has a debt-to-equity ratio of 4.05, a quick ratio of 1.02 and a current ratio of 1.07. The company has a market cap of $209,071.34, a PE ratio of 13.67, a price-to-earnings-growth ratio of 4.81 and a beta of 0.57. Verizon Communications Inc. has a 12 month low of $42.80 and a 12 month high of $54.83.
Verizon Communications (NYSE:VZ) last issued its earnings results on Thursday, October 19th. The cell phone carrier reported $0.98 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.98. The company had revenue of $31.70 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.01 EPS. research analysts anticipate that Verizon Communications Inc. will post 3.77 EPS for the current fiscal year.
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Verizon Communications 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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