Duncker Streett & Co. Inc. lowered its holdings in Verizon Communications Inc. (NYSE:VZ) by 8.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 49,273 shares of the cell phone carrier’s stock after selling 4,732 shares during the quarter. Duncker Streett & Co. Inc.’s holdings in Verizon Communications were worth $2,200,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the business. State Street Corp raised its holdings in shares of Verizon Communications by 1.2% in the 1st quarter. State Street Corp now owns 168,115,884 shares of the cell phone carrier’s stock valued at $8,195,661,000 after buying an additional 2,066,816 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in shares of Verizon Communications by 6.9% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 18,125,956 shares of the cell phone carrier’s stock valued at $883,641,000 after buying an additional 1,167,752 shares during the period. Macquarie Group Ltd. raised its holdings in shares of Verizon Communications by 2.1% in the 1st quarter. Macquarie Group Ltd. now owns 15,452,275 shares of the cell phone carrier’s stock valued at $753,262,000 after buying an additional 318,586 shares during the period. Clearbridge Investments LLC raised its holdings in shares of Verizon Communications by 1.8% in the 1st quarter. Clearbridge Investments LLC now owns 7,651,193 shares of the cell phone carrier’s stock valued at $372,996,000 after buying an additional 133,038 shares during the period. Finally, Bank of Montreal Can grew its stake in Verizon Communications by 9.1% during the 2nd quarter. Bank of Montreal Can now owns 7,455,407 shares of the cell phone carrier’s stock worth $332,958,000 after purchasing an additional 619,401 shares in the last quarter. Institutional investors own 62.33% of the company’s stock.
A number of brokerages recently issued reports on VZ. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating on shares of Verizon Communications in a research report on Wednesday, June 28th. Vetr raised Verizon Communications from a “buy” rating to a “strong-buy” rating and set a $50.65 target price for the company in a research report on Wednesday, July 5th. Zacks Investment Research cut Verizon Communications from a “hold” rating to a “sell” rating in a research report on Tuesday, June 20th. BidaskClub raised Verizon Communications from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Finally, Cowen and Company reaffirmed a “hold” rating and set a $49.00 price objective on shares of Verizon Communications in a research note on Wednesday, July 19th. Two research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Verizon Communications presently has a consensus rating of “Hold” and a consensus price target of $53.00.
In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of Verizon Communications stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $47.74, for a total value of $29,121.40. Following the completion of the sale, the executive vice president now owns 7,819 shares in the company, valued at approximately $373,279.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 1,830 shares of company stock valued at $86,248 in the last quarter. Corporate insiders own 0.13% of the company’s stock.
Shares of Verizon Communications Inc. (NYSE:VZ) traded up 0.88% on Wednesday, hitting $47.20. The company had a trading volume of 7,814,879 shares. The company has a market cap of $192.55 billion, a price-to-earnings ratio of 12.13 and a beta of 0.57. The company has a 50 day moving average of $47.79 and a 200-day moving average of $47.13. Verizon Communications Inc. has a 12-month low of $42.80 and a 12-month high of $54.83.
Verizon Communications (NYSE:VZ) last posted its earnings results on Thursday, July 27th. The cell phone carrier reported $0.96 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.96. Verizon Communications had a net margin of 12.88% and a return on equity of 63.06%. The company had revenue of $30.55 billion during the quarter, compared to analysts’ expectations of $29.84 billion. During the same quarter last year, the company posted $0.94 EPS. Verizon Communications’s quarterly revenue was up .1% compared to the same quarter last year. On average, analysts forecast that Verizon Communications Inc. will post $3.78 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th will be paid a $0.59 dividend. This is a boost from Verizon Communications’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Friday, October 6th. This represents a $2.36 annualized dividend and a yield of 5.04%. Verizon Communications’s payout ratio is 59.23%.
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Verizon Communications Profile
Verizon Communications Inc is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. Its segments include Wireless and Wireline. The Wireless segment offers communications products and services, including wireless voice and data services and equipment sales, to consumer, business and government customers across the United States.
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