Everett Harris & Co. CA Acquires 26,487 Shares of Verizon Communications Inc. (NYSE:VZ)
Everett Harris & Co. CA grew its position in shares of Verizon Communications Inc. (NYSE:VZ) by 21.3% during the second quarter, according to its most recent filing with the SEC. The firm owned 150,983 shares of the cell phone carrier’s stock after acquiring an additional 26,487 shares during the period. Everett Harris & Co. CA’s holdings in Verizon Communications were worth $8,324,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in VZ. Winslow Evans & Crocker Inc. increased its holdings in shares of Verizon Communications by 5.0% during the second quarter. Winslow Evans & Crocker Inc. now owns 63,285 shares of the cell phone carrier’s stock valued at $3,488,000 after acquiring an additional 3,011 shares in the last quarter. Community Financial Services Group LLC boosted its stake in Verizon Communications by 5.3% during the 1st quarter. Community Financial Services Group LLC now owns 122,402 shares of the cell phone carrier’s stock valued at $6,577,000 after purchasing an additional 6,160 shares during the last quarter. Financial Enhancement Group LLC grew its position in Verizon Communications by 8.0% in the 1st quarter. Financial Enhancement Group LLC now owns 174,244 shares of the cell phone carrier’s stock worth $9,362,000 after purchasing an additional 12,850 shares during the period. Verus Financial Partners Inc. grew its position in shares of Verizon Communications by 4.6% during the 1st quarter. Verus Financial Partners Inc. now owns 6,644 shares of the cell phone carrier’s stock valued at $357,000 after acquiring an additional 293 shares during the period. Finally, Syntal Capital Partners LLC raised its stake in shares of Verizon Communications by 31.7% in the first quarter. Syntal Capital Partners LLC now owns 23,610 shares of the cell phone carrier’s stock worth $1,268,000 after buying an additional 5,681 shares during the period. 65.23% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts recently issued reports on the company. Nomura restated a “hold” rating and set a $61.00 price objective on shares of Verizon Communications in a report on Sunday, April 26th. Raymond James raised their target price on shares of Verizon Communications from $61.00 to $64.00 and gave the stock an “outperform” rating in a research report on Monday, July 27th. Oppenheimer reiterated a “buy” rating and issued a $70.00 price target on shares of Verizon Communications in a report on Monday, July 27th. SunTrust Banks boosted their price objective on shares of Verizon Communications from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Finally, Credit Suisse Group restated a “hold” rating and issued a $61.00 target price on shares of Verizon Communications in a research note on Thursday, July 2nd. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $62.00.
Verizon Communications (NYSE:VZ) last announced its earnings results on Friday, July 24th. The cell phone carrier reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.03. Verizon Communications had a net margin of 14.76% and a return on equity of 32.15%. The company had revenue of $30.40 billion during the quarter, compared to analysts’ expectations of $29.98 billion. During the same quarter in the previous year, the business posted $1.23 earnings per share. The firm’s quarterly revenue was down 5.2% compared to the same quarter last year. On average, research analysts expect that Verizon Communications Inc. will post 4.78 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Friday, July 10th will be given a $0.615 dividend. The ex-dividend date is Thursday, July 9th. This represents a $2.46 annualized dividend and a dividend yield of 4.28%. Verizon Communications’s dividend payout ratio is currently 51.14%.
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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