Davidson & Garrard Inc. Trims Holdings in Verizon Communications Inc. (VZ)

Davidson & Garrard Inc. trimmed its stake in Verizon Communications Inc. (NYSE:VZ) by 0.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 177,693 shares of the cell phone carrier’s stock after selling 801 shares during the quarter. Verizon Communications comprises about 1.9% of Davidson & Garrard Inc.’s holdings, making the stock its 12th biggest position. Davidson & Garrard Inc.’s holdings in Verizon Communications were worth $7,936,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. State Street Corp grew its holdings in shares of Verizon Communications by 1.2% during the first 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 last quarter. Harbour Capital Advisors LLC grew its holdings in shares of Verizon Communications by 3,914.3% during the second quarter. Harbour Capital Advisors LLC now owns 1,310,548 shares of the cell phone carrier’s stock valued at $29,345,000 after buying an additional 1,277,901 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of Verizon Communications by 7.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 19,403,560 shares of the cell phone carrier’s stock valued at $866,563,000 after buying an additional 1,277,604 shares during the last quarter. Flossbach Von Storch AG grew its holdings in shares of Verizon Communications by 139.2% during the second quarter. Flossbach Von Storch AG now owns 1,982,895 shares of the cell phone carrier’s stock valued at $88,556,000 after buying an additional 1,153,770 shares during the last quarter. Finally, Beutel Goodman & Co Ltd. grew its holdings in shares of Verizon Communications by 22.5% during the second quarter. Beutel Goodman & Co Ltd. now owns 5,339,889 shares of the cell phone carrier’s stock valued at $183,686,000 after buying an additional 981,409 shares during the last quarter. Institutional investors and hedge funds own 63.37% of the company’s stock.

A number of research analysts have recently issued reports on the stock. TheStreet upgraded shares of Verizon Communications from a “c+” rating to a “b-” rating in a report on Tuesday, August 8th. ValuEngine upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating in a report on Friday. Moffett Nathanson reiterated a “buy” rating on shares of Verizon Communications in a report on Thursday, October 12th. Cowen reiterated a “hold” rating and set a $52.00 price objective on shares of Verizon Communications in a report on Tuesday, September 19th. Finally, KeyCorp reiterated a “hold” rating on shares of Verizon Communications in a report on Wednesday, October 11th. Two analysts have rated the stock with a sell rating, nineteen have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Verizon Communications has a consensus rating of “Hold” and a consensus price target of $51.25.

Verizon Communications Inc. (NYSE VZ) traded down $0.88 on Tuesday, hitting $50.84. 14,066,732 shares of the company were exchanged, compared to its average volume of 15,631,953. The company has a debt-to-equity ratio of 4.05, a current ratio of 1.07 and a quick ratio of 1.02. Verizon Communications Inc. has a one year low of $42.80 and a one year high of $54.83. The company has a market capitalization of $209,071.34, a price-to-earnings ratio of 13.67, a P/E/G ratio of 4.81 and a beta of 0.57.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Thursday, October 19th. The cell phone carrier reported $0.98 EPS for the quarter, hitting the consensus estimate of $0.98. The business had revenue of $31.70 billion for the quarter, compared to analyst estimates of $31.45 billion. Verizon Communications had a net margin of 12.80% and a return on equity of 58.66%. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.01 earnings per share. analysts predict that Verizon Communications Inc. will post 3.77 earnings per share for the current year.

In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of Verizon Communications stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $48.62, for a total value of $29,658.20. Following the sale, the executive vice president now owns 5,989 shares of the company’s stock, valued at $291,185.18. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders sold 1,830 shares of company stock worth $88,609. Insiders own 0.13% of the company’s stock.

TRADEMARK VIOLATION WARNING: This report was published by Chaffey Breeze and is owned by of Chaffey Breeze. If you are reading this report on another site, it was illegally stolen and republished in violation of US & international copyright & trademark law. The correct version of this report can be viewed at https://www.chaffeybreeze.com/2017/12/05/davidson-garrard-inc-trims-holdings-in-verizon-communications-inc-vz.html.

Verizon Communications Company 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.

Want to see what other hedge funds are holding VZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Verizon Communications Inc. (NYSE:VZ).

Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

Receive News & Ratings for Verizon Communications Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verizon Communications Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply