Plancorp LLC Sells 537 Shares of Verizon Communications Inc. (VZ)
Plancorp LLC lowered its position in shares of Verizon Communications Inc. (NYSE:VZ) by 2.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,117 shares of the cell phone carrier’s stock after selling 537 shares during the quarter. Plancorp LLC’s holdings in Verizon Communications were worth $1,077,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the business. Franklin Parlapiano Turner & Welch LLC acquired a new stake in shares of Verizon Communications in the 1st quarter valued at approximately $136,000. American Beacon Advisors Inc. acquired a new stake in shares of Verizon Communications in the 1st quarter valued at approximately $140,000. Proficio Capital Partners LLC boosted its holdings in shares of Verizon Communications by 139.8% in the 1st quarter. Proficio Capital Partners LLC now owns 3,158 shares of the cell phone carrier’s stock valued at $142,000 after buying an additional 1,841 shares during the last quarter. Camarda Financial Advisors LLC boosted its holdings in shares of Verizon Communications by 11.3% in the 2nd quarter. Camarda Financial Advisors LLC now owns 3,749 shares of the cell phone carrier’s stock valued at $167,000 after buying an additional 382 shares during the last quarter. Finally, Asset Advisors Corp boosted its holdings in shares of Verizon Communications by 2.5% in the 2nd quarter. Asset Advisors Corp now owns 4,085 shares of the cell phone carrier’s stock valued at $182,000 after buying an additional 100 shares during the last quarter. 62.23% of the stock is owned by hedge funds and other institutional investors.
In related news, EVP Craig L. Silliman sold 610 shares of the business’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $48.65, for a total transaction of $29,676.50. Following the sale, the executive vice president now directly owns 7,209 shares in the company, valued at approximately $350,717.85. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last quarter, insiders have sold 1,830 shares of company stock worth $88,828. 0.13% of the stock is currently owned by corporate insiders.
Several equities research analysts have recently commented on VZ shares. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating on shares of Verizon Communications in a report on Wednesday, June 28th. Vetr raised Verizon Communications from a “buy” rating to a “strong-buy” rating and set a $50.65 price objective for the company in a report on Wednesday, July 5th. Zacks Investment Research raised Verizon Communications from a “sell” rating to a “hold” rating in a report on Friday, July 7th. BidaskClub raised Verizon Communications from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Finally, Cowen and Company reissued a “hold” rating and issued a $49.00 price objective on shares of Verizon Communications in a report on Wednesday, July 19th. Two research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $53.00.
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Shares of Verizon Communications Inc. (VZ) traded up 0.16% on Friday, hitting $49.49. The company had a trading volume of 13,021,697 shares. The company has a 50 day moving average price of $48.00 and a 200 day moving average price of $47.06. The firm has a market capitalization of $201.89 billion, a price-to-earnings ratio of 12.72 and a beta of 0.57. Verizon Communications Inc. has a 1-year low of $42.80 and a 1-year high of $54.83.
Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Thursday, July 27th. The cell phone carrier reported $0.96 earnings per share (EPS) for the quarter, meeting 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 for the quarter, compared to analyst estimates of $29.84 billion. During the same period in the previous year, the company posted $0.94 EPS. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. On average, equities analysts forecast that Verizon Communications Inc. will post $3.77 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th will be paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.77%. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Friday, October 6th. Verizon Communications’s payout ratio is presently 59.23%.
Verizon Communications 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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