Indiana Trust & Investment Management CO lessened its position in Verizon Communications Inc. (NYSE: VZ – Get Rating) by 1.8% in the 1st quarter, Holdings Channel reports. The firm owned 17,770 shares of the cell phone carrier’s stock after selling 320 shares during the period. Indiana Trust & Investment Management CO’s holdings in Verizon Communications were worth $ 905,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Keudell Morrison Wealth Management increased its position in shares of Verizon Communications by 0.9% during the third quarter. Keudell Morrison Wealth Management now owns 47,613 shares of the cell phone carrier’s stock worth $ 2,572,000 after acquiring an additional 448 shares in the last quarter. Twinbeech Capital LP bought a new stake in shares of Verizon Communications during the third quarter worth $ 1,756,000. SkyView Investment Advisors LLC increased its position in shares of Verizon Communications by 228.8% during the third quarter. SkyView Investment Advisors LLC now owns 16,514 shares of the cell phone carrier’s stock worth $ 892,000 after acquiring an additional 11,491 shares in the last quarter. GQG Partners LLC increased its position in shares of Verizon Communications by 37.6% during the third quarter. GQG Partners LLC now owns 8,438 shares of the cell phone carrier’s stock worth $ 456,000 after acquiring an additional 2,304 shares in the last quarter. Finally, KB Financial Partners LLC increased its position in shares of Verizon Communications by 16.1% during the third quarter. KB Financial Partners LLC now owns 9,102 shares of the cell phone carrier’s stock worth $ 592,000 after acquiring an additional 1,259 shares in the last quarter. 63.78% of the stock is owned by hedge funds and other institutional investors.
In other Verizon Communications news, CEO Tami A. Erwin sold 23,647 shares of Verizon Communications stock in a transaction dated Tuesday, April 26th. The shares were sold at an average price of $ 49.77, for a total value of $ 1,176,911.19. Following the completion of the sale, the chief executive officer now owns 21,817 shares in the company, valued at approximately $ 1,085,832.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Craig L. Silliman sold 1,558 shares of Verizon Communications stock in a transaction dated Friday, June 3rd. The stock was sold at an average price of $ 50.94, for a total transaction of $ 79,364.52. Following the completion of the sale, the executive vice president now owns 34,961 shares of the company stock, valued at approximately $ 1,780,913.34. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,321 shares of company stock valued at $ 1,415,192. 0.10% of the stock is currently owned by corporate insiders.
Shares of VZ stock opened at $ 49.03 on Friday. The stock has a market cap of $ 205.91 billion, a P / E ratio of 9.52, a P / E / G ratio of 2.52 and a beta of 0.41. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.76 and a quick ratio of 0.69. The company has a fifty day moving average price of $ 50.34 and a two-hundred day moving average price of $ 51.85. Verizon Communications Inc. has a one year low of $ 45.55 and a one year high of $ 56.85.
Verizon Communications (NYSE: VZ – Get Rating) last posted 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. The company had revenue of $ 33.60 billion during the quarter, compared to analysts’ expectations of $ 33.61 billion. Verizon Communications had a net margin of 15.93% and a return on equity of 28.15%. Verizon Communications’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the company posted $ 1.31 EPS. As a group, equities research analysts anticipate that Verizon Communications Inc. will post 5.4 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, August 1st. Stockholders of record on Friday, July 8th will be paid a dividend of $ 0.64 per share. This represents a $ 2.56 dividend on an annualized basis and a dividend yield of 5.22%. The ex-dividend date of this dividend is Thursday, July 7th. Verizon Communications’s dividend payout ratio is presently 49.71%.
Several equities research analysts have recently issued reports on the stock. William Blair reissued a “market perform” rating on shares of Verizon Communications in a research report on Monday, April 25th. DZ Bank downgraded shares of Verizon Communications from a “hold” rating to a “sell” rating and set a $ 44.00 target price for the company. in a research report on Friday, April 29th. The Goldman Sachs Group downgraded shares of Verizon Communications from a “buy” rating to a “neutral” rating and decreased their target price for the company from $ 61.00 to $ 55.00 in a research report on Monday, April 25th. Wolfe Research decreased 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 research report on Thursday, June 2nd. Finally, StockNews.com raised shares of Verizon Communications from a “hold” rating to a “buy” rating in a research report on Thursday, May 12th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $ 57.20.
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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