CENTRAL TRUST Co Buys 19,737 Shares of Verizon Communications Inc. (VZ)
CENTRAL TRUST Co increased its position in shares of Verizon Communications Inc. (NYSE:VZ) by 6.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 305,134 shares of the cell phone carrier’s stock after buying an additional 19,737 shares during the period. Verizon Communications comprises about 1.2% of CENTRAL TRUST Co’s holdings, making the stock its 16th largest position. CENTRAL TRUST Co’s holdings in Verizon Communications were worth $15,861,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Lowe fs LLC increased its stake in Verizon Communications by 3.0% in the third quarter. Lowe fs LLC now owns 2,426 shares of the cell phone carrier’s stock worth $126,000 after buying an additional 70 shares during the period. Taylor Wealth Management Partners increased its stake in Verizon Communications by 15.2% in the second quarter. Taylor Wealth Management Partners now owns 2,275 shares of the cell phone carrier’s stock worth $127,000 after buying an additional 300 shares during the period. Daiwa SB Investments Ltd. increased its stake in Verizon Communications by 11,938.5% in the third quarter. Daiwa SB Investments Ltd. now owns 3,130 shares of the cell phone carrier’s stock worth $163,000 after buying an additional 3,104 shares during the period. First National Bank Sioux Falls increased its stake in Verizon Communications by 8.7% in the second quarter. First National Bank Sioux Falls now owns 3,408 shares of the cell phone carrier’s stock worth $190,000 after buying an additional 272 shares during the period. Finally, Fenimore Asset Management Inc. acquired a new stake in Verizon Communications during the second quarter worth $202,000. 62.41% of the stock is currently owned by institutional investors and hedge funds.
Verizon Communications Inc. (NYSE:VZ) traded down 0.245% on Tuesday, reaching $50.995. The company’s stock had a trading volume of 4,347,903 shares. The firm has a market capitalization of $207.89 billion, a PE ratio of 14.863 and a beta of 0.38. The stock’s 50 day moving average is $48.57 and its 200-day moving average is $51.88. Verizon Communications Inc. has a 52 week low of $43.79 and a 52 week high of $56.95.
Verizon Communications (NYSE:VZ) last posted its earnings results on Thursday, October 20th. The cell phone carrier reported $1.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.02. Verizon Communications had a return on equity of 78.75% and a net margin of 10.97%. The company had revenue of $30.90 billion for the quarter, compared to analyst estimates of $31.08 billion. During the same period last year, the company earned $1.04 earnings per share. The business’s revenue was down 6.7% compared to the same quarter last year. Analysts predict that Verizon Communications Inc. will post $3.90 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, November 1st. Shareholders of record on Friday, October 7th were issued a dividend of $0.0125 per share. The ex-dividend date of this dividend was Wednesday, October 5th. This represents a $0.05 annualized dividend and a yield of 0.10%. Verizon Communications’s dividend payout ratio (DPR) is currently 67.15%.
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VZ has been the topic of a number of analyst reports. Vetr downgraded Verizon Communications from a “strong-buy” rating to a “buy” rating and set a $58.40 price target on the stock. in a research note on Thursday, September 22nd. Drexel Hamilton upgraded Verizon Communications from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a research report on Monday, October 24th. Barclays PLC reiterated an “equal weight” rating and set a $52.00 target price on shares of Verizon Communications in a research report on Friday, August 26th. Pacific Crest reiterated an “equal weight” rating on shares of Verizon Communications in a research report on Sunday, October 23rd. Finally, HSBC reiterated a “hold” rating and set a $54.00 target price on shares of Verizon Communications in a research report on Wednesday, September 28th. One analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and nine have given a buy rating to the stock. Verizon Communications has an average rating of “Hold” and an average price target of $54.61.
In other news, EVP Craig L. Silliman sold 672 shares of Verizon Communications stock in a transaction dated Monday, September 26th. The stock was sold at an average price of $52.40, for a total value of $35,212.80. Following the transaction, the executive vice president now directly owns 9,854 shares in the company, valued at $516,349.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Craig L. Silliman sold 668 shares of Verizon Communications stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $49.29, for a total value of $32,925.72. Following the completion of the transaction, the executive vice president now owns 6,047 shares in the company, valued at $298,056.63. The disclosure for this sale can be found here. Company insiders own 0.10% of the company’s stock.
About Verizon Communications
Verizon Communications Inc (Verizon) is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. The Company offers voice, data and video services and solutions on its wireless and wireline networks.
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