Verizon Communications Inc. (NYSE:VZ) Shares Bought by Paulson Wealth Management Inc.
Paulson Wealth Management Inc. lifted its stake in Verizon Communications Inc. (NYSE:VZ) by 4.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,952 shares of the cell phone carrier’s stock after acquiring an additional 266 shares during the period. Paulson Wealth Management Inc.’s holdings in Verizon Communications were worth $386,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently modified their holdings of the company. Shine Investment Advisory Services Inc. acquired a new stake in Verizon Communications during the second quarter valued at approximately $29,000. Evolution Wealth Advisors LLC acquired a new stake in Verizon Communications during the second quarter valued at approximately $31,000. Rocky Mountain Advisers LLC lifted its stake in Verizon Communications by 83.0% during the second quarter. Rocky Mountain Advisers LLC now owns 988 shares of the cell phone carrier’s stock valued at $56,000 after purchasing an additional 448 shares during the last quarter. SeaBridge Investment Advisors LLC lifted its stake in Verizon Communications by 506.0% during the fourth quarter. SeaBridge Investment Advisors LLC now owns 1,018 shares of the cell phone carrier’s stock valued at $57,000 after purchasing an additional 850 shares during the last quarter. Finally, Cascade Investment Advisors Inc. lifted its stake in Verizon Communications by 21.5% during the fourth quarter. Cascade Investment Advisors Inc. now owns 1,033 shares of the cell phone carrier’s stock valued at $58,000 after purchasing an additional 183 shares during the last quarter. 65.76% of the stock is owned by institutional investors.
In other news, EVP Craig L. Silliman sold 1,349 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $59.20, for a total transaction of $79,860.80. Following the transaction, the executive vice president now owns 26,728 shares in the company, valued at approximately $1,582,297.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last 90 days, insiders have sold 4,047 shares of company stock worth $234,591. 0.03% of the stock is currently owned by company insiders.
Shares of VZ stock traded down $0.06 during trading hours on Wednesday, reaching $56.31. 2,102,794 shares of the stock traded hands, compared to its average volume of 13,981,316. Verizon Communications Inc. has a 1-year low of $52.28 and a 1-year high of $61.58. The firm has a fifty day moving average of $56.69. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.87 and a quick ratio of 0.84. The firm has a market capitalization of $230.69 billion, a price-to-earnings ratio of 11.95, a PEG ratio of 2.72 and a beta of 0.53.
Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Thursday, August 1st. The cell phone carrier reported $1.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.03. The business had revenue of $32.07 billion for the quarter, compared to analyst estimates of $32.42 billion. Verizon Communications had a net margin of 12.08% and a return on equity of 34.91%. The firm’s revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.20 earnings per share. As a group, analysts forecast that Verizon Communications Inc. will post 4.8 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were paid a dividend of $0.6025 per share. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $2.41 annualized dividend and a dividend yield of 4.28%. Verizon Communications’s dividend payout ratio (DPR) is 51.17%.
Verizon Communications Company 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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