Flippin Bruce & Porter Inc. Has $510,000 Position in Verizon Communications Inc. (VZ)
Flippin Bruce & Porter Inc. cut its holdings in Verizon Communications Inc. (NYSE:VZ) by 4.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,416 shares of the cell phone carrier’s stock after selling 500 shares during the quarter. Flippin Bruce & Porter Inc.’s holdings in Verizon Communications were worth $510,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the stock. Oakmont Partners LLC raised its holdings in Verizon Communications by 0.3% during the second quarter. Oakmont Partners LLC now owns 6,391 shares of the cell phone carrier’s stock worth $285,000 after purchasing an additional 22 shares during the last quarter. Conservest Capital Advisors Inc. raised its holdings in Verizon Communications by 0.5% during the second quarter. Conservest Capital Advisors Inc. now owns 5,024 shares of the cell phone carrier’s stock worth $224,000 after purchasing an additional 23 shares during the last quarter. Nottingham Advisors Inc. raised its holdings in Verizon Communications by 0.5% during the second quarter. Nottingham Advisors Inc. now owns 6,425 shares of the cell phone carrier’s stock worth $287,000 after purchasing an additional 35 shares during the last quarter. Camden National Bank raised its holdings in Verizon Communications by 0.7% during the second quarter. Camden National Bank now owns 4,972 shares of the cell phone carrier’s stock worth $222,000 after purchasing an additional 37 shares during the last quarter. Finally, Cobblestone Capital Advisors LLC NY raised its holdings in Verizon Communications by 0.3% during the first quarter. Cobblestone Capital Advisors LLC NY now owns 19,401 shares of the cell phone carrier’s stock worth $946,000 after purchasing an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 63.37% of the company’s stock.
Several equities analysts recently issued reports on VZ shares. TheStreet raised Verizon Communications from a “c+” rating to a “b-” rating in a report on Tuesday, August 8th. ValuEngine raised Verizon Communications from a “hold” rating to a “buy” rating in a report on Friday. Moffett Nathanson reissued a “buy” rating on shares of Verizon Communications in a report on Thursday, October 12th. Bank of America set a $52.00 price target on Verizon Communications and gave the stock a “buy” rating in a report on Friday, October 20th. Finally, Macquarie reissued a “hold” rating and issued a $52.00 price target on shares of Verizon Communications in a report on Sunday, October 22nd. Two research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Verizon Communications has a consensus rating of “Hold” and a consensus target price of $51.25.
In related news, EVP Craig L. Silliman sold 610 shares of the company’s stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $49.23, for a total value of $30,030.30. Following the completion of the transaction, the executive vice president now directly owns 6,599 shares in the company, valued at $324,868.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 1,830 shares of company stock valued at $88,609 over the last quarter. Insiders own 0.13% of the company’s stock.
Verizon Communications Inc. (NYSE VZ) traded down $0.88 during trading on Tuesday, reaching $50.84. The company had a trading volume of 14,066,732 shares, compared to its average volume of 15,631,953. The firm 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 Inc. has a 52-week low of $42.80 and a 52-week high of $54.83. 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 (NYSE:VZ) last released its earnings results on Thursday, October 19th. The cell phone carrier reported $0.98 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.98. The firm had revenue of $31.70 billion during the quarter, compared to analyst estimates of $31.45 billion. Verizon Communications had a return on equity of 58.66% and a net margin of 12.80%. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.01 earnings per share. equities research analysts forecast that Verizon Communications Inc. will post 3.77 EPS for the current fiscal year.
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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.
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