Verizon Communications Inc. (NYSE:VZ) Shares Bought by Sigma Planning Corp
Sigma Planning Corp boosted its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 13.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 108,797 shares of the cell phone carrier’s stock after buying an additional 12,576 shares during the period. Sigma Planning Corp’s holdings in Verizon Communications were worth $5,304,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in VZ. Honkamp Krueger Financial Services Inc. ADV bought a new stake in Verizon Communications during the fourth quarter valued at approximately $3,091,000. Stearns Financial Services Group increased its stake in Verizon Communications by 3.6% in the fourth quarter. Stearns Financial Services Group now owns 48,747 shares of the cell phone carrier’s stock valued at $2,602,000 after buying an additional 1,682 shares during the last quarter. Abbrea Capital LLC acquired a new position in shares of Verizon Communications during the fourth quarter valued at about $1,869,000. Raymond James Financial Services Advisors Inc. boosted its position in shares of Verizon Communications by 12.9% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 1,828,289 shares of the cell phone carrier’s stock valued at $97,594,000 after buying an additional 209,560 shares during the period. Finally, Horizon Investments LLC acquired a new position in shares of Verizon Communications during the fourth quarter valued at about $833,000. Institutional investors own 62.52% of the company’s stock.
Shares of Verizon Communications Inc. (NYSE VZ) traded up 0.83% during midday trading on Thursday, reaching $48.61. 15,188,298 shares of the company traded hands. Verizon Communications Inc. has a 12 month low of $42.80 and a 12 month high of $54.83. The company’s 50 day moving average is $45.05 and its 200-day moving average is $47.46. The stock has a market capitalization of $198.28 billion, a price-to-earnings ratio of 16.26 and a beta of 0.55.
Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Thursday, July 27th. The cell phone carrier reported $0.96 EPS for the quarter, hitting analysts’ consensus estimates of $0.96. Verizon Communications had a return on equity of 63.06% and a net margin of 12.88%. The company had revenue of $30.55 billion during the quarter, compared to analysts’ expectations of $29.84 billion. During the same quarter in the previous year, the firm earned $0.94 EPS. Verizon Communications’s revenue was up .1% on a year-over-year basis. Equities research analysts forecast that Verizon Communications Inc. will post $3.77 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th were issued a dividend of $0.5775 per share. The ex-dividend date was Thursday, July 6th. This represents a $2.31 dividend on an annualized basis and a dividend yield of 4.75%. Verizon Communications’s dividend payout ratio (DPR) is currently 59.23%.
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A number of research analysts have weighed in on VZ shares. Vetr raised shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $47.44 price objective for the company in a report on Wednesday, June 21st. Cowen and Company reaffirmed a “hold” rating and issued a $49.00 price objective on shares of Verizon Communications in a report on Wednesday, July 19th. ValuEngine cut shares of Verizon Communications from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Zacks Investment Research cut shares of Verizon Communications from a “hold” rating to a “sell” rating in a research note on Tuesday, June 20th. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $48.00 target price on shares of Verizon Communications in a research note on Friday, April 21st. Two equities research analysts have rated the stock with a sell rating, twenty-two have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $52.73.
In other news, EVP Craig L. Silliman sold 610 shares of the business’s stock in a transaction on Friday, July 28th. The stock was sold at an average price of $47.74, for a total transaction of $29,121.40. Following the completion of the transaction, the executive vice president now owns 7,819 shares of the company’s stock, valued at approximately $373,279.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 1,830 shares of company stock valued at $84,229 in the last three months. 0.13% of the stock is owned by insiders.
Verizon Communications Company 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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