Asset Planning Services Ltd. Sells 50 Shares of Verizon Communications Inc. (VZ)
Asset Planning Services Ltd. cut its position in Verizon Communications Inc. (NYSE:VZ) by 1.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,570 shares of the cell phone carrier’s stock after selling 50 shares during the quarter. Asset Planning Services Ltd.’s holdings in Verizon Communications were worth $204,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp lifted its position in shares of Verizon Communications by 1.2% during the 1st quarter. State Street Corp now owns 168,115,884 shares of the cell phone carrier’s stock valued at $8,195,661,000 after acquiring an additional 2,066,816 shares during the period. Harbour Capital Advisors LLC lifted its position in shares of Verizon Communications by 3,914.3% during the 2nd quarter. Harbour Capital Advisors LLC now owns 1,310,548 shares of the cell phone carrier’s stock valued at $29,345,000 after acquiring an additional 1,277,901 shares during the period. Schwab Charles Investment Management Inc. lifted its position in shares of Verizon Communications by 7.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 19,403,560 shares of the cell phone carrier’s stock valued at $866,563,000 after acquiring an additional 1,277,604 shares during the period. Flossbach Von Storch AG lifted its position in shares of Verizon Communications by 139.2% during the 2nd quarter. Flossbach Von Storch AG now owns 1,982,895 shares of the cell phone carrier’s stock valued at $88,556,000 after acquiring an additional 1,153,770 shares during the period. Finally, Beutel Goodman & Co Ltd. lifted its position in shares of Verizon Communications by 22.5% during the 2nd quarter. Beutel Goodman & Co Ltd. now owns 5,339,889 shares of the cell phone carrier’s stock valued at $183,686,000 after acquiring an additional 981,409 shares during the period. Institutional investors and hedge funds own 62.05% of the company’s stock.
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Shares of Verizon Communications Inc. (NYSE:VZ) opened at $44.88 on Friday. The stock has a market capitalization of $183,860.41, a price-to-earnings ratio of 12.02, a P/E/G ratio of 4.24 and a beta of 0.55. Verizon Communications Inc. has a 52 week low of $42.80 and a 52 week high of $54.83. The company has a debt-to-equity ratio of 4.05, a quick ratio of 1.02 and a current ratio of 1.07.
Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Thursday, October 19th. The cell phone carrier reported $0.98 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.98. Verizon Communications had a return on equity of 58.66% and a net margin of 12.80%. The company had revenue of $31.70 billion during the quarter, compared to analyst estimates of $31.45 billion. During the same quarter last year, the company earned $1.01 earnings per share. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. equities analysts expect that Verizon Communications Inc. will post 3.77 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th were paid a dividend of $0.59 per share. The ex-dividend date was Friday, October 6th. This represents a $2.36 annualized dividend and a yield of 5.26%. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.58. Verizon Communications’s payout ratio is 60.51%.
In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of Verizon Communications stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $49.23, for a total transaction of $30,030.30. Following the completion of the sale, the executive vice president now owns 6,599 shares of the company’s stock, valued at $324,868.77. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last ninety days, insiders have sold 1,830 shares of company stock valued at $89,365. Corporate insiders own 0.13% of the company’s stock.
A number of brokerages have issued reports on VZ. TheStreet raised Verizon Communications from a “c+” rating to a “b-” rating in a report on Tuesday, August 8th. Bank of America Corporation set a $52.00 price target on Verizon Communications and gave the company a “buy” rating in a research note on Friday, October 20th. Robert W. Baird restated a “hold” rating and set a $49.00 target price on shares of Verizon Communications in a research report on Wednesday, October 4th. BidaskClub upgraded Verizon Communications from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Finally, Royal Bank of Canada increased their price target on Verizon Communications from $48.00 to $50.00 and gave the stock a “sector perform” rating in a report on Monday, July 31st. Two research analysts have rated the stock with a sell rating, twenty have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $52.75.
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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