Security National Trust Co. Reduces Holdings in Verizon Communications Inc. (VZ)
Security National Trust Co. reduced its position in Verizon Communications Inc. (NYSE:VZ) by 0.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 80,258 shares of the cell phone carrier’s stock after selling 552 shares during the period. Verizon Communications comprises about 1.2% of Security National Trust Co.’s holdings, making the stock its 24th largest position. Security National Trust Co.’s holdings in Verizon Communications were worth $3,583,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Franklin Parlapiano Turner & Welch LLC acquired a new position in Verizon Communications in the 1st quarter worth about $136,000. American Beacon Advisors Inc. acquired a new position in Verizon Communications in the 1st quarter worth about $140,000. Proficio Capital Partners LLC increased its position in 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 worth $142,000 after purchasing an additional 1,841 shares during the last quarter. Camarda Financial Advisors LLC increased its position in 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 worth $167,000 after purchasing an additional 382 shares during the last quarter. Finally, Asset Advisors Corp boosted its stake in shares of Verizon Communications by 2.5% during the 2nd 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 in the last quarter. 62.09% of the stock is currently owned by institutional investors.
In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of the 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 directly owns 6,599 shares in the company, valued at approximately $324,868.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 1,830 shares of company stock worth $89,365 over the last quarter. Corporate insiders own 0.13% of the company’s stock.
Shares of Verizon Communications Inc. (NYSE:VZ) opened at $44.77 on Friday. Verizon Communications Inc. has a twelve month low of $42.80 and a twelve month high of $54.83. The firm has a market capitalization of $182,640.00, a price-to-earnings ratio of 11.79, a P/E/G ratio of 4.16 and a beta of 0.55. 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 (NYSE:VZ) last released its quarterly earnings results on Thursday, October 19th. The cell phone carrier reported $0.98 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.98. Verizon Communications had a return on equity of 58.66% and a net margin of 12.80%. The firm had revenue of $31.70 billion during the quarter, compared to analysts’ expectations of $31.45 billion. During the same period last year, the firm posted $1.01 EPS. The business’s revenue was up 2.5% on a year-over-year basis. equities analysts anticipate that Verizon Communications Inc. will post 3.77 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 5.27%. This is a boost from Verizon Communications’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Friday, October 6th. Verizon Communications’s dividend payout ratio (DPR) is currently 60.51%.
Several analysts have recently issued reports on VZ shares. Macquarie reiterated a “hold” rating and set a $52.00 price target on shares of Verizon Communications in a research note on Sunday, October 22nd. SunTrust Banks, Inc. reiterated a “hold” rating and set a $50.00 price target on shares of Verizon Communications in a research note on Friday, October 20th. Moffett Nathanson reiterated a “buy” rating on shares of Verizon Communications in a research note on Thursday, October 12th. Cowen and Company reiterated a “hold” rating and set a $52.00 price target on shares of Verizon Communications in a research note on Friday, July 28th. Finally, KeyCorp reiterated a “hold” rating on shares of Verizon Communications in a research note on Wednesday, October 11th. Two analysts have rated the stock with a sell rating, twenty have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $52.75.
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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