Verizon Communications Inc. (VZ) Stake Raised by Partnervest Advisory Services LLC
Partnervest Advisory Services LLC grew its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 1.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,520 shares of the cell phone carrier’s stock after buying an additional 200 shares during the period. Partnervest Advisory Services LLC’s holdings in Verizon Communications were worth $559,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently added to or reduced their stakes in the company. Franklin Parlapiano Turner & Welch LLC purchased a new position in shares of Verizon Communications in the first quarter valued at $136,000. American Beacon Advisors Inc. purchased a new position in Verizon Communications during the first quarter worth $140,000. Proficio Capital Partners LLC boosted its stake in Verizon Communications by 139.8% during the first quarter. Proficio Capital Partners LLC now owns 3,158 shares of the cell phone carrier’s stock worth $142,000 after buying an additional 1,841 shares during the period. Camarda Financial Advisors LLC boosted its stake in Verizon Communications by 11.3% during the second 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 during the period. Finally, Asset Advisors Corp boosted its stake in Verizon Communications by 2.5% during the second quarter. Asset Advisors Corp now owns 4,085 shares of the cell phone carrier’s stock worth $182,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 62.08% of the company’s stock.
In other news, EVP Craig L. Silliman sold 610 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $48.62, for a total transaction of $29,658.20. Following the completion of the transaction, the executive vice president now directly owns 5,989 shares of the company’s stock, valued at approximately $291,185.18. The sale was disclosed in a filing with the SEC, which is available at this link. Over the last ninety days, insiders have sold 1,830 shares of company stock valued at $89,365. Corporate insiders own 0.13% of the company’s stock.
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Verizon Communications Inc. (NYSE:VZ) opened at $47.42 on Monday. 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 firm has a market capitalization of $193,447.08, a P/E ratio of 12.65, a PEG ratio of 4.46 and a beta of 0.55. Verizon Communications Inc. has a 52 week low of $42.80 and a 52 week high of $54.83.
Verizon Communications (NYSE:VZ) last announced its earnings results on Thursday, October 19th. The cell phone carrier reported $0.98 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.98. The business had revenue of $31.70 billion during the quarter, compared to the consensus estimate of $31.45 billion. Verizon Communications had a return on equity of 58.66% and a net margin of 12.80%. The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.01 EPS. research analysts anticipate that Verizon Communications Inc. will post 3.77 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 4.98%. This is an increase from Verizon Communications’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Friday, October 6th. Verizon Communications’s dividend payout ratio is presently 60.51%.
Several research analysts have commented on VZ shares. TheStreet raised shares of Verizon Communications from a “c+” rating to a “b-” rating in a research note on Tuesday, August 8th. Moffett Nathanson reissued a “buy” rating on shares of Verizon Communications in a research note on Thursday, October 12th. Bank of America Corporation lowered their target price on shares of Verizon Communications from $59.00 to $50.00 and set a “buy” rating for the company in a research note on Thursday, July 13th. ValuEngine raised shares of Verizon Communications from a “hold” rating to a “buy” rating in a research note on Monday, October 23rd. Finally, Barclays PLC lowered their target price on shares of Verizon Communications from $49.00 to $47.00 and set an “equal weight” rating for the company in a research note on Friday, July 14th. Two 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. The stock presently has an average rating of “Hold” and a consensus price target of $52.75.
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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