HM Payson & Co. Has $3.71 Million Position in Verizon Communications Inc. (VZ)
HM Payson & Co. lowered its holdings in Verizon Communications Inc. (NYSE:VZ) by 16.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 83,064 shares of the cell phone carrier’s stock after selling 16,466 shares during the period. HM Payson & Co.’s holdings in Verizon Communications were worth $3,710,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of VZ. Franklin Parlapiano Turner & Welch LLC bought a new position in Verizon Communications during the 1st quarter worth approximately $136,000. American Beacon Advisors Inc. bought a new position in Verizon Communications during the 1st quarter worth approximately $140,000. Proficio Capital Partners LLC lifted its holdings in 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 worth $142,000 after buying an additional 1,841 shares during the last quarter. Camarda Financial Advisors LLC lifted its holdings in Verizon Communications by 11.3% during the 2nd quarter. Camarda Financial Advisors LLC now owns 3,749 shares of the cell phone carrier’s stock worth $167,000 after buying an additional 382 shares during the last quarter. Finally, Asset Advisors Corp lifted its holdings in 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 buying an additional 100 shares during the last quarter. 62.09% of the stock is owned by hedge funds and other institutional investors.
VZ has been the topic of a number of research reports. KeyCorp reiterated a “hold” rating on shares of Verizon Communications in a research report on Saturday, October 21st. BidaskClub upgraded Verizon Communications from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Cowen and Company reiterated a “hold” rating and set a $52.00 price target on shares of Verizon Communications in a research report on Tuesday, September 19th. Macquarie reiterated a “hold” rating and set a $52.00 price target on shares of Verizon Communications in a research report on Sunday, October 22nd. 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 research report on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Verizon Communications currently has an average rating of “Hold” and a consensus target price of $52.75.
In other news, EVP Craig L. Silliman sold 610 shares of the firm’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $48.65, for a total value of $29,676.50. Following the completion of the sale, the executive vice president now owns 7,209 shares of the company’s stock, valued at $350,717.85. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last ninety days, insiders sold 1,830 shares of company stock valued at $89,365. 0.13% of the stock is currently owned by insiders.
Shares of Verizon Communications Inc. (VZ) opened at $45.42 on Friday. The company has a market capitalization of $182,640.00, a price-to-earnings ratio of 11.79, a PEG ratio of 4.16 and a beta of 0.55. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 4.05. Verizon Communications Inc. has a 12-month low of $42.80 and a 12-month high of $54.83.
Verizon Communications (NYSE:VZ) last issued its earnings results on Thursday, October 19th. The cell phone carrier reported $0.98 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.98. The business had revenue of $31.70 billion during the quarter, compared to analysts’ expectations of $31.45 billion. Verizon Communications had a return on equity of 58.66% and a net margin of 12.80%. Verizon Communications’s revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.01 earnings per share. research analysts expect that Verizon Communications Inc. will post 3.77 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 5.20%. The ex-dividend date was Friday, October 6th. This is a boost from Verizon Communications’s previous quarterly dividend of $0.58. Verizon Communications’s dividend payout ratio (DPR) is 60.51%.
About Verizon Communications
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.
Want to see what other hedge funds are holding VZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Verizon Communications Inc. (NYSE:VZ).
Receive News & Stock Ratings for Verizon Communications Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verizon Communications Inc. and related stocks with our FREE daily email newsletter.