Tocqueville Asset Management L.P. boosted its position in Verizon Communications Inc. (NYSE:VZ) by 5.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 897,927 shares of the cell phone carrier’s stock after buying an additional 44,700 shares during the period. Tocqueville Asset Management L.P.’s holdings in Verizon Communications were worth $40,101,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of VZ. Oakmont Partners LLC boosted its position in Verizon Communications by 0.3% in the 2nd 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 in the last quarter. Conservest Capital Advisors Inc. lifted its position in shares of Verizon Communications by 0.5% during the 2nd quarter. Conservest Capital Advisors Inc. now owns 5,024 shares of the cell phone carrier’s stock valued at $224,000 after buying an additional 23 shares in the last quarter. Nottingham Advisors Inc. lifted its position in shares of Verizon Communications by 0.5% during the 2nd quarter. Nottingham Advisors Inc. now owns 6,425 shares of the cell phone carrier’s stock valued at $287,000 after buying an additional 35 shares in the last quarter. Camden National Bank lifted its position in shares of Verizon Communications by 0.7% during the 2nd quarter. Camden National Bank now owns 4,972 shares of the cell phone carrier’s stock valued at $222,000 after buying an additional 37 shares in the last quarter. Finally, Cobblestone Capital Advisors LLC NY lifted its position in shares of Verizon Communications by 0.3% during the 1st quarter. Cobblestone Capital Advisors LLC NY now owns 19,401 shares of the cell phone carrier’s stock valued at $946,000 after buying an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 63.37% of the company’s stock.
Shares of Verizon Communications Inc. (NYSE:VZ) traded down $0.26 during trading on Thursday, reaching $50.42. The company had a trading volume of 11,984,979 shares, compared to its average volume of 15,631,771. Verizon Communications Inc. has a 12 month low of $42.80 and a 12 month high of $54.83. The stock has a market cap of $206,380.00, a PE ratio of 13.58, a price-to-earnings-growth ratio of 4.78 and a beta of 0.57. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 4.05.
Verizon Communications (NYSE:VZ) last announced its earnings results on Thursday, October 19th. The cell phone carrier reported $0.98 EPS for the quarter, meeting analysts’ consensus estimates of $0.98. Verizon Communications had a return on equity of 58.66% and a net margin of 12.80%. The company had revenue of $31.70 billion during the quarter, compared to analysts’ expectations of $31.45 billion. During the same period last year, the business posted $1.01 EPS. Verizon Communications’s revenue for the quarter was up 2.5% on a year-over-year basis. equities research analysts anticipate that Verizon Communications Inc. will post 3.77 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 4.68%. Verizon Communications’s payout ratio is presently 60.51%.
In other news, EVP Craig L. Silliman sold 610 shares of Verizon Communications stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $48.62, for a total value of $29,658.20. Following the completion of the transaction, the executive vice president now owns 5,989 shares in the company, valued at approximately $291,185.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 1,830 shares of company stock valued at $88,609 in the last quarter. Company insiders own 0.13% of the company’s stock.
A number of research analysts have recently issued reports on the company. ValuEngine upgraded Verizon Communications from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Robert W. Baird reissued a “hold” rating and issued a $49.00 price objective on shares of Verizon Communications in a research note on Wednesday, October 4th. Macquarie reissued a “hold” rating and issued a $52.00 price objective on shares of Verizon Communications in a research note on Sunday, October 22nd. KeyCorp reissued a “hold” rating on shares of Verizon Communications in a research note on Saturday, October 21st. Finally, Bank of America set a $52.00 price objective on Verizon Communications and gave the company a “buy” rating in a research note on Friday, October 20th. Two investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $51.25.
Verizon Communications 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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