Lester Murray Antman dba SimplyRich acquired a new stake in shares of Verizon Communications Inc. (NYSE:VZ) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 9,555 shares of the cell phone carrier’s stock, valued at approximately $546,000.
A number of other institutional investors have also recently made changes to their positions in VZ. Barber Financial Group Inc. grew its stake in Verizon Communications by 4.3% during the fourth quarter. Barber Financial Group Inc. now owns 7,992 shares of the cell phone carrier’s stock worth $449,000 after buying an additional 330 shares during the last quarter. Palladium Partners LLC grew its stake in shares of Verizon Communications by 116.8% during the fourth quarter. Palladium Partners LLC now owns 217,026 shares of the cell phone carrier’s stock valued at $12,201,000 after purchasing an additional 116,935 shares during the last quarter. Evermay Wealth Management LLC grew its stake in shares of Verizon Communications by 1.7% during the fourth quarter. Evermay Wealth Management LLC now owns 13,773 shares of the cell phone carrier’s stock valued at $774,000 after purchasing an additional 232 shares during the last quarter. Jentner Corp bought a new stake in shares of Verizon Communications during the fourth quarter valued at approximately $386,000. Finally, Osborn Williams & Donohoe LLC grew its stake in shares of Verizon Communications by 19.6% during the fourth quarter. Osborn Williams & Donohoe LLC now owns 12,819 shares of the cell phone carrier’s stock valued at $720,000 after purchasing an additional 2,100 shares during the last quarter. 65.99% of the stock is owned by institutional investors and hedge funds.
In related news, EVP Craig L. Silliman sold 1,349 shares of the stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $58.15, for a total value of $78,444.35. Following the transaction, the executive vice president now directly owns 25,379 shares in the company, valued at $1,475,788.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 4,047 shares of company stock worth $234,591 over the last 90 days. 0.03% of the stock is currently owned by company insiders.
NYSE VZ traded down $0.18 during trading hours on Friday, hitting $56.60. The company’s stock had a trading volume of 529,475 shares, compared to its average volume of 13,495,538. The stock has a fifty day moving average of $56.52 and a 200 day moving average of $57.11. Verizon Communications Inc. has a twelve month low of $52.28 and a twelve month high of $61.58. The firm has a market capitalization of $232.72 billion, a P/E ratio of 12.02, a PEG ratio of 2.75 and a beta of 0.53. The company has a quick ratio of 0.84, a current ratio of 0.87 and a debt-to-equity ratio of 2.12.
Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Thursday, August 1st. The cell phone carrier reported $1.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.03. Verizon Communications had a net margin of 12.08% and a return on equity of 34.91%. The business had revenue of $32.07 billion for the quarter, compared to analyst estimates of $32.42 billion. During the same period in the prior year, the business posted $1.20 earnings per share. Verizon Communications’s revenue was down .4% compared to the same quarter last year. On average, analysts predict that Verizon Communications Inc. will post 4.8 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were issued a $0.6025 dividend. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $2.41 annualized dividend and a yield of 4.26%. Verizon Communications’s dividend payout ratio is currently 51.17%.
Verizon Communications Profile
Verizon Communications Inc, through its subsidiaries, offers communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company's Wireless segment provides wireless voice and data services; Internet access on various notebook computers and tablets; international travel wireless services; and network access services to deliver various Internet of Things products and services, as well as offers digital advertising and digital media services platforms.
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