Crestwood Advisors Group LLC lowered its stake in Verizon Communications Inc. (NYSE: VZ – Get Rating) by 11.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,907 shares of the cell phone carrier’s stock after selling 3,473 shares during the quarter. Crestwood Advisors Group LLC’s holdings in Verizon Communications were worth $ 1,320,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the stock. Cim LLC lifted its holdings in Verizon Communications by 6.4% in the first quarter. Cim LLC now owns 4,807 shares of the cell phone carrier’s stock worth $ 259,000 after purchasing an additional 290 shares during the period. Home Federal Bank of Tennessee lifted its holdings in Verizon Communications by 1.6% in the 1st quarter. Home Federal Bank of Tennessee now owns 39,005 shares of the cell phone carrier’s stock valued at $ 1,987,000 after acquiring an additional 600 shares during the last quarter. Solitude Financial Services lifted its holdings in Verizon Communications by 43.1% in the 1st quarter. Solitude Financial Services now owns 11,074 shares of the cell phone carrier’s stock valued at $ 564,000 after acquiring an additional 3,335 shares during the last quarter. Wilson & Boucher Capital Management LLC lifted its holdings in Verizon Communications by 1.2% in the 1st quarter. Wilson & Boucher Capital Management LLC now owns 17,693 shares of the cell phone carrier’s stock valued at $ 901,000 after acquiring an additional 202 shares during the last quarter. Finally, Roberts Wealth Advisors LLC lifted its holdings in Verizon Communications by 1.9% in the 1st quarter. Roberts Wealth Advisors LLC now owns 66,107 shares of the cell phone carrier’s stock valued at $ 3,446,000 after acquiring an additional 1,246 shares during the last quarter. 63.78% of the stock is owned by institutional investors and hedge funds.
In other Verizon Communications news, EVP Craig L. Silliman sold 1,558 shares of the stock in a transaction on 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 transaction, the executive vice president now directly owns 34,961 shares in the company, valued at $ 1,780,913.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $ 1,176,911.19. Following the transaction, the chief executive officer now owns 21,817 shares of the company stock, valued at $ 1,085,832.09. The disclosure for this sale can be found here. Insiders sold 28,321 shares of company stock valued at $ 1,415,192 over the last 90 days. 0.02% of the stock is currently owned by corporate insiders.
A number of brokerages have weighed in on VZ. William Blair reissued a “market perform” rating on shares of Verizon Communications in a report on Monday, April 25th. Royal Bank of Canada cut their objective price on Verizon Communications from $ 57.00 to $ 54.00 in a report on Wednesday. The Goldman Sachs Group downgraded Verizon Communications from a “buy” rating to a “neutral” rating and cut their price target for the stock from $ 61.00 to $ 55.00 in a report on Monday, April 25th. Credit Suisse Group cut their price objective on Verizon Communications from $ 58.00 to $ 54.00 and set a “neutral” rating on the stock in a report on Tuesday. Finally, StockNews.com upgraded Verizon Communications from a “hold” rating to a “buy” rating in a report on Thursday, May 12th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $ 56.60.
Shares of Verizon Communications stock opened at $ 50.79 on Thursday. Verizon Communications Inc. has a 12-month low of $ 45.55 and a 12-month high of $ 56.85. The company has a quick ratio of 0.69, a current ratio of 0.76 and a debt-to-equity ratio of 1.64. The stock has a market capitalization of $ 213.30 billion, a P / E ratio of 9.86, a PEG ratio of 2.52 and a beta of 0.41. The stock has a 50 day moving average price of $ 50.12 and a two-hundred day moving average price of $ 51.82.
Verizon Communications (NYSE: VZ – Get Rating) last posted its quarterly earnings data on Friday, April 22nd. The cell phone carrier reported $ 1.35 earnings per share for the quarter, meeting the consensus estimate 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 return on equity of 28.15% and a net margin of 15.93%. Verizon Communications’s 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 earnings per share. Sell-side analysts anticipate that Verizon Communications Inc. will post 5.4 earnings per share for the current year.
The company 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. The ex-dividend date of this dividend is Thursday, July 7th. This represents a $ 2.56 dividend on an annualized basis and a dividend yield of 5.04%. Verizon Communications’s payout ratio is 49.71%.
Verizon Communications 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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