First National Bank of Mount Dora Trust Investment Services boosted its position in shares of Verizon Communications Inc. (NYSE:VZ) by 19.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 125,756 shares of the cell phone carrier’s stock after buying an additional 20,054 shares during the period. Verizon Communications accounts for approximately 2.5% of First National Bank of Mount Dora Trust Investment Services’ portfolio, making the stock its 6th biggest holding. First National Bank of Mount Dora Trust Investment Services’ holdings in Verizon Communications were worth $7,313,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wealth Alliance increased its position in Verizon Communications by 7.5% in the 3rd quarter. Wealth Alliance now owns 46,961 shares of the cell phone carrier’s stock valued at $2,794,000 after acquiring an additional 3,283 shares during the period. Cubist Systematic Strategies LLC raised its stake in shares of Verizon Communications by 447.6% during the third quarter. Cubist Systematic Strategies LLC now owns 172,968 shares of the cell phone carrier’s stock worth $10,290,000 after purchasing an additional 141,384 shares during the last quarter. Point72 Hong Kong Ltd lifted its holdings in shares of Verizon Communications by 379.9% during the third quarter. Point72 Hong Kong Ltd now owns 80,941 shares of the cell phone carrier’s stock worth $4,815,000 after purchasing an additional 64,074 shares during the period. Global Trust Asset Management LLC grew its position in Verizon Communications by 77.3% in the 3rd quarter. Global Trust Asset Management LLC now owns 12,712 shares of the cell phone carrier’s stock valued at $756,000 after buying an additional 5,543 shares during the last quarter. Finally, Te Ahumairangi Investment Management Ltd acquired a new position in Verizon Communications in the 3rd quarter valued at $16,592,000. Institutional investors own 64.85% of the company’s stock.
Shares of VZ traded down $1.17 during mid-day trading on Thursday, reaching $57.83. The company had a trading volume of 179,669 shares, compared to its average volume of 20,359,465. Verizon Communications Inc. has a fifty-two week low of $52.85 and a fifty-two week high of $61.95. The firm has a fifty day simple moving average of $56.65 and a 200-day simple moving average of $58.04. The stock has a market cap of $239.42 billion, a price-to-earnings ratio of 12.80, a price-to-earnings-growth ratio of 3.54 and a beta of 0.44. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 1.66.
Verizon Communications (NYSE:VZ) last issued its earnings results on Monday, January 25th. The cell phone carrier reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.04. Verizon Communications had a return on equity of 32.15% and a net margin of 14.76%. The business had revenue of $34.70 billion for the quarter, compared to analyst estimates of $34.47 billion. During the same period last year, the company posted $1.13 EPS. The business’s quarterly revenue was down .2% on a year-over-year basis. As a group, equities analysts predict that Verizon Communications Inc. will post 4.77 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 3rd. Shareholders of record on Friday, April 9th will be given a $0.6275 dividend. This represents a $2.51 annualized dividend and a yield of 4.34%. The ex-dividend date is Thursday, April 8th. Verizon Communications’s dividend payout ratio (DPR) is presently 52.18%.
In other Verizon Communications news, EVP Craig L. Silliman sold 1,555 shares of the company’s stock in a transaction that occurred on Monday, April 5th. The stock was sold at an average price of $58.53, for a total value of $91,014.15. Following the completion of the transaction, the executive vice president now owns 36,242 shares in the company, valued at approximately $2,121,244.26. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.07% of the company’s stock.
VZ has been the topic of a number of recent analyst reports. Scotiabank lowered shares of Verizon Communications from an “outperform” rating to a “sector perform” rating in a research note on Thursday, February 25th. Credit Suisse Group cut their target price on Verizon Communications from $61.00 to $59.00 and set a “neutral” rating for the company in a research note on Tuesday, January 19th. Tigress Financial upgraded Verizon Communications from a “neutral” rating to a “buy” rating in a research note on Tuesday, March 30th. Bank of America reaffirmed a “buy” rating and set a $64.00 price objective on shares of Verizon Communications in a report on Thursday, March 11th. Finally, Oppenheimer restated a “market perform” rating on shares of Verizon Communications in a research report on Wednesday, March 3rd. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $62.06.
Verizon Communications Profile
Verizon Communications Inc offers communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. Its Consumer segment provides postpaid and prepaid service plans; internet access on notebook computers and tablets; wireless equipment, including smartphones and other handsets; and wireless-enabled internet devices, such as tablets, and other wireless-enabled connected devices, such as smart watches.
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