City Holding Co. lessened its stake in Verizon Communications Inc. (NYSE: VZ – Get Rating) by 0.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 123,444 shares of the cell phone carrier’s stock after selling 460 shares during the period. Verizon Communications accounts for 1.0% of City Holding Co.’s portfolio, making the stock its 23rd largest holding. City Holding Co.’s holdings in Verizon Communications were worth $ 6,287,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently bought and sold shares of the company. Rinkey Investments bought a new position in Verizon Communications in the 4th quarter worth approximately $ 27,000. Econ Financial Services Corp bought a new position in Verizon Communications in the 4th quarter worth approximately $ 32,000. Gibson Wealth Advisors LLC bought a new position in Verizon Communications in the 4th quarter worth approximately $ 37,000. Rather & Kittrell Inc. bought a new position in Verizon Communications in the 4th quarter worth approximately $ 43,000. Finally, Bivin & Associates Inc. bought a new position in Verizon Communications in the 4th quarter worth approximately $ 46,000. Hedge funds and other institutional investors own 63.78% of the company stock.
Shares of NYSE VZ opened at $ 50.96 on Tuesday. The firm has a market cap of $ 214.01 billion, a PE ratio of 9.90, a PEG ratio of 2.63 and a beta of 0.41. The company has a current ratio of 0.76, a quick ratio of 0.69 and a debt-to-equity ratio of 1.64. Verizon Communications Inc. has a 1-year low of $ 45.55 and a 1-year high of $ 56.85. The company has a fifty day moving average price of $ 49.98 and a 200 day moving average price of $ 51.86.
Verizon Communications (NYSE: VZ – Get Rating) last announced its earnings results on Friday, April 22nd. The cell phone carrier reported $ 1.35 earnings per share for the quarter, hitting analysts’ consensus estimates of $ 1.35. The firm had revenue of $ 33.60 billion during the quarter, compared to analyst estimates of $ 33.61 billion. Verizon Communications had a net margin of 15.93% and a return on equity of 28.15%. The company revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the prior year, the business earned $ 1.31 EPS. Equities research analysts forecast that Verizon Communications Inc. will post 5.39 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, August 1st. Investors of record on Friday, July 8th will be paid a $ 0.64 dividend. This represents a $ 2.56 dividend on an annualized basis and a yield of 5.02%. The ex-dividend date of this dividend is Thursday, July 7th. Verizon Communications’s payout ratio is presently 49.71%.
In other Verizon Communications news, EVP Craig L. Silliman sold 1,558 shares of the business’s stock in a transaction dated Monday, May 23rd. The shares were sold at an average price of $ 50.00, for a total transaction of $ 77,900.00. Following the sale, the executive vice president now directly owns 36,519 shares of the company stock, valued at approximately $ 1,825,950. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Tami A. Erwin sold 23,647 shares of the business’s stock in a transaction dated Tuesday, April 26th. The stock was sold at an average price of $ 49.77, for a total transaction of $ 1,176,911.19. Following the sale, the chief executive officer now directly owns 21,817 shares in the company, valued at $ 1,085,832.09. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,321 shares of company stock valued at $ 1,415,192. Company insiders own 0.02% of the company stock.
VZ has been the subject of a number of analyst reports. StockNews.com raised shares of Verizon Communications from a “hold” rating to a “buy” rating in a report on Thursday, May 12th. The Goldman Sachs Group lowered shares of Verizon Communications from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $ 61.00 to $ 55.00 in a report on Monday, April 25th. Wolfe Research lowered their target price on shares of Verizon Communications from $ 60.00 to $ 51.00 and set a “peer perform” rating for the company in a report on Thursday, June 2nd. DZ Bank lowered shares of Verizon Communications from a “hold” rating to a “sell” rating and set a $ 44.00 target price for the company. in a report on Friday, April 29th. Finally, JPMorgan Chase & Co. reaffirmed a “hold” rating and set a $ 57.00 target price on shares of Verizon Communications in a report on Friday. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company stock. According to data from MarketBeat.com, Verizon Communications presently has an average rating of “Hold” and a consensus price target of $ 57.14.
Verizon Communications Company Profile: (Get Rating)
Verizon Communications Inc, through its subsidiaries, offers communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. Its Consumer segment provides postpaid and prepaid service plans; internet access on notebook computers and tablets; wireless equipment, including smartphones and other handsets; and wireless-enabled internet devices, such as tablets, and other wireless-enabled connected devices comprising smart watches.
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