Verizon Communications Inc. (VZ) Holdings Maintained by Ashford Capital Management Inc.
Ashford Capital Management Inc. continued to hold its position in Verizon Communications Inc. (NYSE:VZ) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,120 shares of the cell phone carrier’s stock at the close of the second quarter. Ashford Capital Management Inc.’s holdings in Verizon Communications were worth $318,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of the stock. Franklin Parlapiano Turner & Welch LLC acquired a new position in Verizon Communications during the first quarter valued at approximately $136,000. Proficio Capital Partners LLC boosted its position 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 purchasing an additional 1,841 shares during the last quarter. Private Vista LLC boosted its position 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 purchasing an additional 378,225 shares during the last quarter. Mountain Capital Investment Advisors Inc acquired a new position in Verizon Communications during the second quarter valued at approximately $156,000. Finally, Regal Wealth Group Inc. boosted its position in Verizon Communications by 0.7% during the second quarter. Regal Wealth Group Inc. now owns 3,682 shares of the cell phone carrier’s stock valued at $164,000 after purchasing an additional 24 shares during the last quarter. Institutional investors and hedge funds own 63.37% of the company’s stock.
VZ has been the subject of several recent research reports. Macquarie reissued a “hold” rating and set a $52.00 price target on shares of Verizon Communications in a research report on Sunday, October 22nd. SunTrust Banks reaffirmed a “hold” rating and issued a $50.00 price objective on shares of Verizon Communications in a research report on Friday, October 20th. Moffett Nathanson reaffirmed a “buy” rating on shares of Verizon Communications in a research report on Thursday, October 12th. Wells Fargo & Company raised Verizon Communications from a “market perform” rating to an “outperform” rating and set a $50.00 price objective for the company in a research report on Monday, November 20th. Finally, Instinet raised their price objective on Verizon Communications from $47.00 to $61.00 and gave the company a “buy” rating in a research report on Tuesday. Two analysts have rated the stock with a sell rating, nineteen have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Verizon Communications currently has a consensus rating of “Hold” and an average price target of $51.99.
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, 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%. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period last year, the firm posted $1.01 EPS. equities research analysts predict that Verizon Communications Inc. will post 3.77 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Wednesday, January 10th will be issued a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $2.36 annualized dividend and a yield of 4.51%. Verizon Communications’s payout ratio is currently 60.51%.
In related news, EVP Craig L. Silliman sold 610 shares of Verizon Communications stock in a transaction that occurred on Friday, October 27th. The stock was 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 directly owns 5,989 shares of the company’s stock, valued at approximately $291,185.18. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last three months, insiders have sold 1,830 shares of company stock valued at $88,609. 0.13% of the stock is currently owned by insiders.
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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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