Murphy Pohlad Asset Management LLC Sells 220 Shares of Verizon Communications Inc. (VZ)
Murphy Pohlad Asset Management LLC trimmed its position in shares of Verizon Communications Inc. (NYSE:VZ) by 0.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 77,527 shares of the cell phone carrier’s stock after selling 220 shares during the quarter. Verizon Communications makes up 2.6% of Murphy Pohlad Asset Management LLC’s holdings, making the stock its 11th biggest holding. Murphy Pohlad Asset Management LLC’s holdings in Verizon Communications were worth $3,462,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the company. Franklin Parlapiano Turner & Welch LLC bought a new position in shares of Verizon Communications during the first quarter worth about $136,000. American Beacon Advisors Inc. bought a new position in shares of Verizon Communications during the first quarter worth about $140,000. Proficio Capital Partners LLC raised its position in shares of Verizon Communications by 139.8% during the first quarter. Proficio Capital Partners LLC now owns 3,158 shares of the cell phone carrier’s stock worth $142,000 after acquiring an additional 1,841 shares during the last quarter. Camarda Financial Advisors LLC raised its position in shares of Verizon Communications by 11.3% during the second quarter. Camarda Financial Advisors LLC now owns 3,749 shares of the cell phone carrier’s stock worth $167,000 after acquiring an additional 382 shares during the last quarter. Finally, Asset Advisors Corp raised its position in shares of Verizon Communications by 2.5% during the second quarter. Asset Advisors Corp now owns 4,085 shares of the cell phone carrier’s stock worth $182,000 after acquiring an additional 100 shares during the last quarter. 62.09% of the stock is currently owned by hedge funds and other institutional investors.
Verizon Communications Inc. (NYSE VZ) opened at $44.75 on Tuesday. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 4.05. Verizon Communications Inc. has a 1 year low of $42.80 and a 1 year high of $54.83. The stock has a market capitalization of $183,085.31, a P/E ratio of 11.97, a P/E/G ratio of 4.22 and a beta of 0.55.
Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Thursday, October 19th. The cell phone carrier reported $0.98 earnings per share for the quarter, hitting 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 business had revenue of $31.70 billion for the quarter, compared to analysts’ expectations of $31.45 billion. During the same quarter in the previous year, the firm earned $1.01 earnings per share. The business’s revenue was up 2.5% on a year-over-year basis. research analysts forecast that Verizon Communications Inc. will post 3.77 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th were given a $0.59 dividend. The ex-dividend date was Friday, October 6th. This represents a $2.36 annualized dividend and a yield of 5.27%. This is a boost from Verizon Communications’s previous quarterly dividend of $0.58. Verizon Communications’s payout ratio is currently 60.51%.
In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of the business’s stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $49.23, for a total value of $30,030.30. Following the transaction, the executive vice president now owns 6,599 shares of the company’s stock, valued at $324,868.77. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders sold 1,830 shares of company stock worth $89,365. Insiders own 0.13% of the company’s stock.
VZ has been the subject of a number of analyst reports. Cowen and Company restated a “hold” rating and set a $49.00 price objective on shares of Verizon Communications in a research report on Wednesday, July 19th. Royal Bank Of Canada raised their price objective on Verizon Communications from $48.00 to $50.00 and gave the stock a “sector perform” rating in a research report on Monday, July 31st. BidaskClub upgraded Verizon Communications from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. TheStreet upgraded Verizon Communications from a “c+” rating to a “b-” rating in a research report on Tuesday, August 8th. Finally, Robert W. Baird restated a “hold” rating and set a $49.00 price objective on shares of Verizon Communications in a research report on Wednesday, October 4th. Two investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Verizon Communications currently has a consensus rating of “Hold” and a consensus price target 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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