VeraBank N.A. Has $885,000 Stock Holdings in Verizon Communications Inc. (NYSE:VZ)

VeraBank N.A. trimmed its holdings in Verizon Communications Inc. (NYSE:VZFree Report) by 7.9% during the first quarter, Holdings Channel reports. The firm owned 21,097 shares of the cell phone carrier’s stock after selling 1,821 shares during the quarter. VeraBank N.A.’s holdings in Verizon Communications were worth $885,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. STAR Financial Bank increased its position in Verizon Communications by 3.5% in the 1st quarter. STAR Financial Bank now owns 9,447 shares of the cell phone carrier’s stock valued at $396,000 after buying an additional 321 shares in the last quarter. Catalina Capital Group LLC bought a new stake in Verizon Communications in the 1st quarter valued at about $511,000. TFB Advisors LLC bought a new stake in Verizon Communications in the 1st quarter valued at about $563,000. Mediolanum International Funds Ltd bought a new stake in Verizon Communications in the 1st quarter valued at about $2,739,000. Finally, Callan Capital LLC bought a new stake in Verizon Communications in the 1st quarter valued at about $227,000. 62.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

VZ has been the subject of a number of research analyst reports. Royal Bank of Canada boosted their target price on Verizon Communications from $36.00 to $40.00 and gave the company a “sector perform” rating in a research report on Tuesday, April 2nd. StockNews.com raised Verizon Communications from a “hold” rating to a “buy” rating in a report on Saturday, May 4th. Tigress Financial boosted their price objective on Verizon Communications from $50.00 to $52.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Scotiabank boosted their price objective on Verizon Communications from $45.50 to $46.50 and gave the stock a “sector perform” rating in a report on Wednesday. Finally, Oppenheimer reissued an “outperform” rating and set a $48.00 price objective on shares of Verizon Communications in a report on Tuesday, April 23rd. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $45.23.

Check Out Our Latest Stock Report on VZ

Verizon Communications Stock Performance

Shares of VZ stock traded down $0.22 during trading on Wednesday, hitting $41.08. The company’s stock had a trading volume of 13,821,707 shares, compared to its average volume of 18,780,859. Verizon Communications Inc. has a 52 week low of $30.14 and a 52 week high of $43.42. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 1.42. The business has a fifty day moving average of $40.37 and a 200-day moving average of $40.25. The company has a market cap of $172.92 billion, a PE ratio of 15.33, a P/E/G ratio of 3.79 and a beta of 0.41.

Verizon Communications (NYSE:VZGet Free Report) last posted its quarterly earnings data on Monday, April 22nd. The cell phone carrier reported $1.15 EPS for the quarter, beating the consensus estimate of $1.12 by $0.03. Verizon Communications had a return on equity of 20.41% and a net margin of 8.44%. The business had revenue of $33 billion for the quarter, compared to the consensus estimate of $33.23 billion. During the same quarter in the prior year, the business earned $1.20 earnings per share. Verizon Communications’s revenue for the quarter was up .3% on a year-over-year basis. As a group, research analysts anticipate that Verizon Communications Inc. will post 4.58 earnings per share for the current year.

Verizon Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be paid a $0.665 dividend. The ex-dividend date is Wednesday, July 10th. This represents a $2.66 annualized dividend and a yield of 6.48%. Verizon Communications’s payout ratio is 99.25%.

Verizon Communications Company Profile

(Free Report)

Verizon Communications Inc, through its subsidiaries, engages in the provision of communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. It operates in two segments, Verizon Consumer Group (Consumer) and Verizon Business Group (Business).

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Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

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