Heartland Bank & Trust Co boosted its position in Verizon Communications Inc. (NYSE: VZ – Get Rating) by 17.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,519 shares of the cell phone carrier’s stock after buying an additional 4,442 shares during the period. Verizon Communications makes up approximately 1.1% of Heartland Bank & Trust Co’s investment portfolio, making its stock its 16th largest holding. Heartland Bank & Trust Co’s holdings in Verizon Communications were worth $ 1,504,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of VZ. Janus Henderson Group PLC boosted its position in Verizon Communications by 6.2% in the third quarter. Janus Henderson Group PLC now owns 4,072,957 shares of the cell phone carrier’s stock valued at $ 219,967,000 after buying an additional 238,346 shares during the last quarter. Schonfeld Strategic Advisors LLC purchased a new stake in Verizon Communications in the 3rd quarter worth approximately $ 7,966,000. Summit Trail Advisors LLC boosted its position in Verizon Communications by 23.5% in the 3rd quarter. Summit Trail Advisors LLC now owns 11,575 shares of the cell phone carrier’s stock worth $ 625,000 after purchasing an additional 2,206 shares in the last quarter. Jeppson Wealth Management LLC boosted its position in Verizon Communications by 15.7% in the 3rd quarter. Jeppson Wealth Management LLC now owns 48,283 shares of the cell phone carrier’s stock worth $ 2,607,000 after purchasing an additional 6,534 shares in the last quarter. Finally, Capstone Triton Financial Group LLC boosted its position in Verizon Communications by 8.8% in the 3rd quarter. Capstone Triton Financial Group LLC now owns 61,348 shares of the cell phone carrier’s stock worth $ 3,226,000 after purchasing an additional 4,956 shares in the last quarter. Hedge funds and other institutional investors own 63.78% of the company stock.
In other news, CEO Tami A. Erwin sold 23,647 shares of the stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 21,817 shares in the company, valued at approximately $ 1,085,832.09. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Craig L. Silliman sold 1,558 shares of the stock in a transaction on Monday, April 4th. The stock was sold at an average price of $ 52.00, for a total value of $ 81,016.00. Following the transaction, the executive vice president now owns 38,077 shares of the company stock, valued at $ 1,980,004. The disclosure for this sale can be found here. Insiders sold a total of 28,321 shares of company stock valued at $ 1,415,192 over the last ninety days. Corporate insiders own 0.02% of the company stock.
VZ has been the topic of several recent research reports. Royal Bank of Canada lowered their price objective on Verizon Communications from $ 57.00 to $ 54.00 in a research report on Wednesday. Credit Suisse Group lowered their price objective on Verizon Communications from $ 58.00 to $ 54.00 and set a “neutral” rating on the stock in a research report on Tuesday. DZ Bank lowered Verizon Communications from a “hold” rating to a “sell” rating and set a $ 44.00 price objective on the stock. in a research report on Friday, April 29th. The Goldman Sachs Group downgraded Verizon Communications from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $ 61.00 to $ 55.00 in a research note on Monday, April 25th. Finally, StockNews.com raised Verizon Communications from a “hold” rating to a “buy” rating in a research note on Thursday, May 12th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $ 56.60.
Shares of VZ opened at $ 50.79 on Thursday. Verizon Communications Inc. has a 52-week low of $ 45.55 and a 52-week high of $ 56.85. The company has a market capitalization of $ 213.30 billion, a PE ratio of 9.86, a price-to-earnings-growth ratio of 2.52 and a beta of 0.41. The stock has a fifty day simple moving average of $ 50.12 and a two-hundred day simple moving average of $ 51.82. The company has a quick ratio of 0.69, a current ratio of 0.76 and a debt-to-equity ratio of 1.64.
Verizon Communications (NYSE: VZ – Get Rating) last issued its earnings results on Friday, April 22nd. The cell phone carrier reported $ 1.35 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $ 1.35. Verizon Communications had a return on equity of 28.15% and a net margin of 15.93%. The business had revenue of $ 33.60 billion during the quarter, compared to the consensus estimate of $ 33.61 billion. During the same period last year, the company earned $ 1.31 EPS. The company revenue for the quarter was up 2.2% on a year-over-year basis. As a group, equities analysts anticipate that Verizon Communications Inc. will post 5.4 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, August 1st. Shareholders 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 dividend yield of 5.04%. The ex-dividend date is Thursday, July 7th. Verizon Communications’s dividend payout ratio (DPR) is presently 49.71%.
About Verizon Communications: (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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