Peddock Capital Advisors LLC Buys 393 Shares of Verizon Communications Inc. (VZ)
Peddock Capital Advisors LLC increased its stake in Verizon Communications Inc. (NYSE:VZ) by 1.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 28,148 shares of the cell phone carrier’s stock after purchasing an additional 393 shares during the quarter. Verizon Communications makes up approximately 0.7% of Peddock Capital Advisors LLC’s investment portfolio, making the stock its 26th biggest position. Peddock Capital Advisors LLC’s holdings in Verizon Communications were worth $1,257,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently made changes to their positions in VZ. Franklin Parlapiano Turner & Welch LLC bought a new stake in Verizon Communications during the first quarter valued at about $136,000. American Beacon Advisors Inc. bought a new stake in Verizon Communications during the first quarter valued at about $140,000. Proficio Capital Partners LLC raised its holdings in 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 valued at $142,000 after acquiring an additional 1,841 shares during the period. Private Vista LLC raised its holdings in Verizon Communications by 3,339.1% during the second quarter. Private Vista LLC now owns 389,552 shares of the cell phone carrier’s stock valued at $143,000 after acquiring an additional 378,225 shares during the period. Finally, Camarda Financial Advisors LLC raised its holdings in 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 valued at $167,000 after acquiring an additional 382 shares during the period. 63.19% of the stock is currently owned by institutional investors.
Verizon Communications Inc. (VZ) opened at $45.42 on Monday. 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 $185,288.20, a P/E ratio of 12.11, a price-to-earnings-growth ratio of 4.27 and a beta of 0.55. 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 announced its earnings results 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 business had revenue of $31.70 billion during the quarter, compared to analyst estimates of $31.45 billion. During the same quarter in the previous year, the business earned $1.01 earnings per share. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. equities research analysts forecast that Verizon Communications Inc. will post 3.77 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 5.20%. The ex-dividend date of this dividend was Friday, October 6th. 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 news, EVP Craig L. Silliman sold 610 shares of Verizon Communications stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $48.62, for a total transaction of $29,658.20. Following the completion of the sale, the executive vice president now owns 5,989 shares of the company’s stock, valued at $291,185.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 1,830 shares of company stock valued at $89,365 in the last 90 days. Company insiders own 0.13% of the company’s stock.
VZ has been the topic of a number of recent analyst reports. Cowen and Company reissued a “hold” rating and set a $52.00 price target on shares of Verizon Communications in a report on Friday, July 28th. Royal Bank Of Canada raised their price target on Verizon Communications from $48.00 to $50.00 and gave the company a “sector perform” rating in a report on Monday, July 31st. BidaskClub raised Verizon Communications from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. TheStreet raised Verizon Communications from a “c+” rating to a “b-” rating in a report on Tuesday, August 8th. Finally, Robert W. Baird reissued a “hold” rating and set a $49.00 price target on shares of Verizon Communications in a report on Wednesday, October 4th. Two equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Verizon Communications has an average rating of “Hold” and a consensus price target of $52.75.
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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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