Jones Financial Companies Lllp Raises Stock Position in Verizon Communications Inc. (NYSE:VZ)
Jones Financial Companies Lllp lifted its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 5.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 210,239 shares of the cell phone carrier’s stock after acquiring an additional 11,094 shares during the quarter. Jones Financial Companies Lllp’s holdings in Verizon Communications were worth $12,011,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of VZ. Shine Investment Advisory Services Inc. bought a new position in shares of Verizon Communications during the second quarter valued at approximately $29,000. Evolution Wealth Advisors LLC acquired a new stake in Verizon Communications in the second quarter valued at approximately $31,000. Personal Wealth Partners acquired a new stake in Verizon Communications in the second quarter valued at approximately $42,000. Rocky Mountain Advisers LLC boosted its stake in Verizon Communications by 83.0% in the second quarter. Rocky Mountain Advisers LLC now owns 988 shares of the cell phone carrier’s stock valued at $56,000 after acquiring an additional 448 shares in the last quarter. Finally, SeaBridge Investment Advisors LLC boosted its stake in Verizon Communications by 506.0% in the fourth quarter. SeaBridge Investment Advisors LLC now owns 1,018 shares of the cell phone carrier’s stock valued at $57,000 after acquiring an additional 850 shares in the last quarter. 65.99% of the stock is currently owned by institutional investors and hedge funds.
In other Verizon Communications news, EVP Craig L. Silliman sold 1,349 shares of Verizon Communications stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $56.55, for a total value of $76,285.95. Following the completion of the transaction, the executive vice president now owns 24,030 shares of the company’s stock, valued at $1,358,896.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders have sold 4,047 shares of company stock valued at $234,591. 0.03% of the stock is currently owned by corporate insiders.
Verizon Communications (NYSE:VZ) last issued its earnings results on Thursday, August 1st. The cell phone carrier reported $1.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.03. Verizon Communications had a net margin of 12.08% and a return on equity of 34.91%. The firm had revenue of $32.07 billion during the quarter, compared to analysts’ expectations of $32.42 billion. During the same quarter last year, the company posted $1.20 earnings per share. The firm’s revenue was down .4% compared to the same quarter last year. On average, equities analysts anticipate that Verizon Communications Inc. will post 4.8 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were issued a dividend of $0.6025 per share. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $2.41 annualized dividend and a dividend yield of 4.28%. Verizon Communications’s dividend payout ratio (DPR) is presently 51.17%.
Several equities research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research note on Monday, August 5th. Citigroup downgraded shares of Verizon Communications from a “buy” rating to a “neutral” rating and set a $62.00 target price for the company. in a research note on Monday, July 8th. Goldman Sachs Group restated a “buy” rating and issued a $65.00 target price on shares of Verizon Communications in a research note on Tuesday, April 23rd. Royal Bank of Canada restated a “neutral” rating and issued a $57.00 target price on shares of Verizon Communications in a research note on Tuesday, April 23rd. Finally, UBS Group downgraded shares of Verizon Communications from a “buy” rating to a “neutral” rating and set a $57.70 target price for the company. in a research note on Thursday, May 30th. They noted that the move was a valuation call. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Verizon Communications currently has an average rating of “Hold” and a consensus price target of $59.33.
Verizon Communications Profile
Verizon Communications Inc, through its subsidiaries, offers communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company's Wireless segment provides wireless voice and data services; Internet access on various notebook computers and tablets; international travel wireless services; and network access services to deliver various Internet of Things products and services, as well as offers digital advertising and digital media services platforms.
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