Verizon Communications Inc. (VZ) Stake Lifted by Hills Bank & Trust Co.
Hills Bank & Trust Co. lifted its holdings in Verizon Communications Inc. (NYSE:VZ) by 19.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,005 shares of the cell phone carrier’s stock after purchasing an additional 2,561 shares during the quarter. Hills Bank & Trust Co.’s holdings in Verizon Communications were worth $715,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also bought and sold shares of the company. Franklin Parlapiano Turner & Welch LLC purchased a new position in shares of Verizon Communications in the first quarter worth $136,000. American Beacon Advisors Inc. purchased a new position in shares of Verizon Communications in the first quarter worth $140,000. Proficio Capital Partners LLC raised its stake in shares of Verizon Communications by 139.8% in the first 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 last quarter. Feltz Wealth PLAN Inc. purchased a new position in shares of Verizon Communications in the first quarter worth $184,000. Finally, Youngs Advisory Group Inc. raised its stake in shares of Verizon Communications by 4.6% in the second quarter. Youngs Advisory Group Inc. now owns 4,507 shares of the cell phone carrier’s stock worth $201,000 after purchasing an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 62.23% of the company’s stock.
In related news, EVP Craig L. Silliman sold 610 shares of Verizon Communications stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $48.65, for a total value of $29,676.50. Following the sale, the executive vice president now directly owns 7,209 shares in the company, valued at approximately $350,717.85. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Over the last quarter, insiders sold 1,830 shares of company stock worth $88,828. 0.13% of the stock is currently owned by insiders.
Several analysts recently commented on the company. Vetr raised Verizon Communications from a “buy” rating to a “strong-buy” rating and set a $50.65 price objective for the company in a report on Wednesday, July 5th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $48.00 price objective on shares of Verizon Communications in a report on Sunday, July 9th. Zacks Investment Research raised Verizon Communications from a “sell” rating to a “hold” rating in a report on Friday, July 7th. BidaskClub raised Verizon Communications from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating on shares of Verizon Communications in a report on Wednesday, June 28th. Two equities research analysts have rated the stock with a sell rating, twenty-one have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Verizon Communications presently has an average rating of “Hold” and an average price target of $53.00.
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Verizon Communications Inc. (VZ) traded up 0.16% during midday trading on Friday, hitting $49.49. The company had a trading volume of 13,021,697 shares. The firm has a market capitalization of $201.89 billion, a P/E ratio of 12.72 and a beta of 0.57. The company has a 50 day moving average price of $48.00 and a 200 day moving average price of $47.06. Verizon Communications Inc. has a 1-year low of $42.80 and a 1-year high of $54.83.
Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Thursday, July 27th. The cell phone carrier reported $0.96 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.96. Verizon Communications had a return on equity of 63.06% and a net margin of 12.88%. The company had revenue of $30.55 billion for the quarter, compared to analysts’ expectations of $29.84 billion. During the same period in the previous year, the firm posted $0.94 EPS. Verizon Communications’s revenue was up .1% compared to the same quarter last year. Equities research analysts forecast that Verizon Communications Inc. will post $3.77 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 4.77%. This is a boost from Verizon Communications’s previous quarterly dividend of $0.58. The ex-dividend date is Friday, October 6th. Verizon Communications’s payout ratio is presently 59.23%.
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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