Peak Capital Management LLC Purchases Shares of 12,463 Verizon Communications Inc. (VZ)
Peak Capital Management LLC purchased a new stake in shares of Verizon Communications Inc. (NYSE:VZ) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 12,463 shares of the cell phone carrier’s stock, valued at approximately $557,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Franklin Parlapiano Turner & Welch LLC purchased a new stake in shares of Verizon Communications in the 1st quarter worth about $136,000. American Beacon Advisors Inc. bought a new stake in shares of Verizon Communications during the 1st quarter valued at about $140,000. Proficio Capital Partners LLC boosted its stake in shares of Verizon Communications by 139.8% during the 1st quarter. Proficio Capital Partners LLC now owns 3,158 shares of the cell phone carrier’s stock valued at $142,000 after purchasing an additional 1,841 shares in the last quarter. Feltz Wealth PLAN Inc. bought a new stake in shares of Verizon Communications during the 1st quarter valued at about $184,000. Finally, Youngs Advisory Group Inc. boosted its stake in shares of Verizon Communications by 4.6% during the 2nd quarter. Youngs Advisory Group Inc. now owns 4,507 shares of the cell phone carrier’s stock valued at $201,000 after purchasing an additional 200 shares in the last quarter. 62.24% of the stock is owned by institutional investors and hedge funds.
In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of the firm’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 completion of the transaction, the executive vice president now owns 7,819 shares of the company’s stock, valued at $373,279.06. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders have sold a total of 1,830 shares of company stock worth $88,828 in the last 90 days. 0.13% of the stock is currently owned by company insiders.
Verizon Communications Inc. (VZ) traded down 0.02% during midday trading on Monday, reaching $49.48. 4,346,951 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $48.00 and its 200-day moving average is $47.06. Verizon Communications Inc. has a 12-month low of $42.80 and a 12-month high of $54.83. The stock has a market capitalization of $201.85 billion, a price-to-earnings ratio of 12.72 and a beta of 0.56.
Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Thursday, July 27th. The cell phone carrier reported $0.96 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.96. The firm had revenue of $30.55 billion during the quarter, compared to analyst estimates of $29.84 billion. Verizon Communications had a net margin of 12.88% and a return on equity of 63.06%. Verizon Communications’s revenue was up .1% on a year-over-year basis. During the same period last year, the firm posted $0.94 EPS. On average, equities analysts forecast that Verizon Communications Inc. will post $3.76 earnings per share for the current 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 dividend of $0.59 per share. 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. This represents a $2.36 dividend on an annualized basis and a yield of 4.77%. Verizon Communications’s dividend payout ratio is presently 59.23%.
Several equities analysts recently issued reports on the stock. TheStreet upgraded shares of Verizon Communications from a “c+” rating to a “b-” rating in a research report on Tuesday, August 8th. Vetr upgraded 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. Bank of America Corporation restated a “buy” rating on shares of Verizon Communications in a report on Saturday, June 17th. Barclays PLC cut their price objective on Verizon Communications from $49.00 to $47.00 and set an “equal weight” rating on the stock in a research 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 research report on Sunday, July 9th. Two equities research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Verizon Communications presently has an average rating of “Hold” and an average price target of $53.00.
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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