McLean Asset Management Corp grew its holdings in Verizon Communications Inc. (NYSE: VZ – Get Rating) by 4.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,056 shares of the cell phone carrier’s stock after purchasing an additional 337 shares during the quarter. McLean Asset Management Corp.’s holdings in Verizon Communications were worth $ 410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in the company. Fieldpoint Private Securities LLC increased its holdings in Verizon Communications by 9.5% during the 1st quarter. Fieldpoint Private Securities LLC now owns 19,235 shares of the cell phone carrier’s stock worth $ 980,000 after purchasing an additional 1,671 shares in the last quarter. SOA Wealth Advisors LLC. increased its holdings in Verizon Communications by 172.8% during the 1st quarter. SOA Wealth Advisors LLC. now owns 33,233 shares of the cell phone carrier’s stock worth $ 1,692,000 after purchasing an additional 21,053 shares in the last quarter. AAFMAA Wealth Management & Trust LLC increased its holdings in Verizon Communications by 10.0% during the 1st quarter. AAFMAA Wealth Management & Trust LLC now owns 9,280 shares of the cell phone carrier’s stock worth $ 473,000 after purchasing an additional 843 shares in the last quarter. Bath Savings Trust Co increased its holdings in Verizon Communications by 5.3% during the 1st quarter. Bath Savings Trust Co now owns 100,693 shares of the cell phone carrier’s stock worth $ 5,129,000 after purchasing an additional 5,089 shares in the last quarter. Finally, My Legacy Advisors LLC bought a new stake in Verizon Communications during the 1st quarter worth approximately $ 830,000. 63.78% of the stock is currently owned by institutional investors.
Shares of VZ stock opened at $ 49.03 on Monday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.69 and a current ratio of 0.76. 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 $ 205.91 billion, a PE ratio of 9.52, a price-to-earnings-growth ratio of 2.52 and a beta of 0.41. The business’s fifty day moving average is $ 50.34 and its 200 day moving average is $ 51.86.
Verizon Communications (NYSE: VZ – Get Rating) last released its quarterly earnings results on Friday, April 22nd. The cell phone carrier reported $ 1.35 earnings per share for the quarter, meeting 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 for the quarter, compared to the estimate consensus of $ 33.61 billion. During the same quarter last year, the business posted $ 1.31 earnings per share. The company revenue for the quarter was up 2.2% on a year-over-year basis. On average, sell-side analysts forecast that Verizon Communications Inc. will post 5.4 EPS for the current fiscal year.
The business also recently disclosed 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. The ex-dividend date is Thursday, July 7th. This represents a $ 2.56 dividend on an annualized basis and a dividend yield of 5.22%. Verizon Communications’s dividend payout ratio (DPR) is currently 49.71%.
In related news, CEO Tami A. Erwin sold 23,647 shares of the firm’s stock in a transaction dated Tuesday, April 26th. The stock was sold at an average price of $ 49.77, for a total value of $ 1,176,911.19. Following the sale, the chief executive officer now directly owns 21,817 shares of the company stock, valued at $ 1,085,832.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Craig L. Silliman sold 1,558 shares of the firm’s stock in a transaction dated Monday, May 23rd. The stock was sold at an average price of $ 50.00, for a total value of $ 77,900.00. Following the completion of the sale, the executive vice president now directly owns 36,519 shares in the company, valued at $ 1,825,950. The disclosure for this sale can be found here. Insiders have sold 28,321 shares of company stock worth $ 1,415,192 over the last ninety days. Insiders own 0.02% of the company stock.
Several equities analysts have recently issued reports on VZ shares. DZ Bank lowered 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. Wolfe Research reduced their target price on Verizon Communications from $ 60.00 to $ 51.00 and set a “peer perform” rating for the company in a report on Thursday, June 2nd. StockNews.com raised Verizon Communications from a “hold” rating to a “buy” rating in a report on Thursday, May 12th. The Goldman Sachs Group lowered Verizon Communications from a “buy” rating to a “neutral” rating and reduced their target price for the company from $ 61.00 to $ 55.00 in a report on Monday, April 25th. Finally, William Blair reissued a “market perform” rating on shares of Verizon Communications in a report on Monday, April 25th. Two investment 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 has a consensus rating of “Hold” and a consensus price target 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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