Verizon Communications Inc. (VZ) Shares Bought by OLD Second National Bank of Aurora
OLD Second National Bank of Aurora grew its stake in Verizon Communications Inc. (NYSE:VZ) by 1.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 81,347 shares of the cell phone carrier’s stock after buying an additional 1,181 shares during the period. Verizon Communications accounts for 1.6% of OLD Second National Bank of Aurora’s holdings, making the stock its 16th biggest position. OLD Second National Bank of Aurora’s holdings in Verizon Communications were worth $3,633,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Ronna Sue Cohen raised its holdings in shares of Verizon Communications by 0.4% in the second quarter. Ronna Sue Cohen now owns 4,832 shares of the cell phone carrier’s stock worth $216,000 after buying an additional 19 shares during the last quarter. Oakmont Partners LLC raised its holdings in shares of Verizon Communications by 0.3% in the second quarter. Oakmont Partners LLC now owns 6,391 shares of the cell phone carrier’s stock worth $285,000 after buying an additional 22 shares during the last quarter. Conservest Capital Advisors Inc. raised its holdings in shares of Verizon Communications by 0.5% in the second quarter. Conservest Capital Advisors Inc. now owns 5,024 shares of the cell phone carrier’s stock worth $224,000 after buying an additional 23 shares during the last quarter. Nottingham Advisors Inc. raised its holdings in shares of Verizon Communications by 0.5% in the second quarter. Nottingham Advisors Inc. now owns 6,425 shares of the cell phone carrier’s stock worth $287,000 after buying an additional 35 shares during the last quarter. Finally, Cobblestone Capital Advisors LLC NY raised its holdings in shares of Verizon Communications by 0.3% in the first quarter. Cobblestone Capital Advisors LLC NY now owns 19,401 shares of the cell phone carrier’s stock worth $946,000 after buying an additional 50 shares during the last quarter. 62.33% of the stock is owned by institutional investors and hedge funds.
Verizon Communications Inc. (VZ) traded up 1.44% during trading on Friday, reaching $47.86. 24,626,478 shares of the company’s stock traded hands. Verizon Communications Inc. has a one year low of $42.80 and a one year high of $54.83. The stock has a market cap of $195.24 billion, a P/E ratio of 12.30 and a beta of 0.57. The firm’s 50 day moving average price is $47.97 and its 200-day moving average price is $47.12.
Verizon Communications (NYSE:VZ) last announced its quarterly earnings results on Thursday, July 27th. The cell phone carrier reported $0.96 EPS for the quarter, hitting 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 business’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.94 EPS. On average, equities analysts anticipate that Verizon Communications Inc. will post $3.78 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Friday, October 6th. This represents a $2.36 annualized dividend and a yield of 4.93%. This is a boost from Verizon Communications’s previous quarterly dividend of $0.58. Verizon Communications’s payout ratio is presently 59.23%.
In other Verizon Communications 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 owns 7,819 shares in the company, valued at approximately $373,279.06. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last quarter, insiders sold 1,830 shares of company stock worth $86,248. Corporate insiders own 0.13% of the company’s stock.
VZ has been the subject of a number of research analyst reports. Vetr raised shares of Verizon Communications from a “buy” rating to a “strong-buy” rating and set a $50.65 price target for the company in a report on Wednesday, July 5th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $48.00 price target on shares of Verizon Communications in a report on Sunday, July 9th. Zacks Investment Research raised shares of Verizon Communications from a “sell” rating to a “hold” rating in a report on Friday, July 7th. BidaskClub raised shares of Verizon Communications from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating on shares of Verizon Communications in a report on Wednesday, June 28th. Two research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Verizon Communications has a consensus rating of “Hold” and an average price target of $53.00.
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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