Van Strum & Towne Inc. Sells 241 Shares of Verizon Communications Inc. (VZ)
Van Strum & Towne Inc. decreased its position in Verizon Communications Inc. (NYSE:VZ) by 1.0% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 24,408 shares of the cell phone carrier’s stock after selling 241 shares during the period. Van Strum & Towne Inc.’s holdings in Verizon Communications were worth $1,190,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently bought and sold shares of the company. Hennessy Advisors Inc. boosted its stake in Verizon Communications by 25.2% in the first quarter. Hennessy Advisors Inc. now owns 270,700 shares of the cell phone carrier’s stock worth $13,197,000 after buying an additional 54,500 shares during the last quarter. Cohen Lawrence B boosted its stake in Verizon Communications by 3.4% in the first quarter. Cohen Lawrence B now owns 70,745 shares of the cell phone carrier’s stock valued at $3,449,000 after buying an additional 2,340 shares in the last quarter. McQueen Ball & Associates Inc. boosted its stake in Verizon Communications by 0.4% in the first quarter. McQueen Ball & Associates Inc. now owns 31,903 shares of the cell phone carrier’s stock valued at $1,555,000 after buying an additional 125 shares in the last quarter. Franklin Street Advisors Inc. NC boosted its stake in Verizon Communications by 7.5% in the first quarter. Franklin Street Advisors Inc. NC now owns 137,775 shares of the cell phone carrier’s stock valued at $6,717,000 after buying an additional 9,555 shares in the last quarter. Finally, Liberty Capital Management Inc. boosted its stake in Verizon Communications by 48.8% in the first quarter. Liberty Capital Management Inc. now owns 50,434 shares of the cell phone carrier’s stock valued at $2,459,000 after buying an additional 16,547 shares in the last quarter. 62.32% of the stock is owned by institutional investors.
Verizon Communications Inc. (NYSE:VZ) traded down 0.04% during midday trading on Thursday, reaching $48.10. The company’s stock had a trading volume of 2,623,717 shares. The stock’s 50-day moving average price is $46.51 and its 200-day moving average price is $47.28. Verizon Communications Inc. has a 12 month low of $42.80 and a 12 month high of $54.83. The firm has a market capitalization of $196.22 billion, a price-to-earnings ratio of 12.37 and a beta of 0.56.
Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Thursday, July 27th. The cell phone carrier reported $0.96 EPS for the quarter, meeting the consensus estimate of $0.96. The business had revenue of $30.55 billion for the quarter, compared to analysts’ expectations of $29.84 billion. Verizon Communications had a net margin of 12.88% and a return on equity of 63.06%. The firm’s revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.94 EPS. Analysts predict that Verizon Communications Inc. will post $3.78 EPS for the current year.
Several equities analysts recently issued reports on the company. TheStreet raised Verizon Communications from a “c+” rating to a “b-” rating in a report on Tuesday, August 8th. Bank of America Corporation reaffirmed a “buy” rating on shares of Verizon Communications in a report on Saturday, June 17th. Vetr raised Verizon Communications from a “hold” rating to a “buy” rating and set a $47.62 price objective for the company in a report on Tuesday, May 23rd. Barclays PLC reduced their price objective on Verizon Communications from $49.00 to $47.00 and set an “equal weight” rating for the company in a report on Friday, July 14th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $48.00 price objective on shares of Verizon Communications in a report on Thursday, May 25th. Two investment analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $52.73.
In related news, EVP Craig L. Silliman sold 610 shares of the business’s stock in a transaction on Friday, July 28th. The shares were sold at an average price of $47.74, for a total value of $29,121.40. Following the sale, the executive vice president now directly 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 at this hyperlink. Insiders sold a total of 1,830 shares of company stock worth $86,248 over the last ninety days. 0.13% of the stock is currently owned by insiders.
About Verizon Communications
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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