Verizon Communications Inc. (NYSE:VZ) Shares Acquired by First United Bank & Trust

First United Bank & Trust lifted its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 2.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,951 shares of the cell phone carrier’s stock after buying an additional 1,157 shares during the period. First United Bank & Trust’s holdings in Verizon Communications were worth $2,211,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of VZ. Hoylecohen LLC raised its holdings in Verizon Communications by 0.3% during the first quarter. Hoylecohen LLC now owns 160,821 shares of the cell phone carrier’s stock worth $9,352,000 after purchasing an additional 492 shares in the last quarter. Stonnington Group LLC bought a new stake in Verizon Communications during the first quarter worth approximately $786,000. Garde Capital Inc. raised its holdings in Verizon Communications by 10.3% during the first quarter. Garde Capital Inc. now owns 3,722 shares of the cell phone carrier’s stock worth $216,000 after purchasing an additional 347 shares in the last quarter. MBL Wealth LLC raised its holdings in Verizon Communications by 15.8% during the first quarter. MBL Wealth LLC now owns 10,217 shares of the cell phone carrier’s stock worth $594,000 after purchasing an additional 1,395 shares in the last quarter. Finally, Fragasso Group Inc. raised its holdings in Verizon Communications by 9.6% during the first quarter. Fragasso Group Inc. now owns 97,102 shares of the cell phone carrier’s stock worth $5,646,000 after purchasing an additional 8,475 shares in the last quarter. Institutional investors and hedge funds own 63.61% of the company’s stock.

In other news, EVP Craig L. Silliman sold 1,554 shares of the company’s stock in a transaction dated Tuesday, September 7th. The shares were sold at an average price of $55.38, for a total transaction of $86,060.52. Following the completion of the transaction, the executive vice president now owns 28,469 shares of the company’s stock, valued at $1,576,613.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 4,662 shares of company stock valued at $252,898 over the last 90 days. Corporate insiders own 0.10% of the company’s stock.

Shares of NYSE:VZ opened at $51.66 on Thursday. The stock has a market capitalization of $213.88 billion, a PE ratio of 9.69, a P/E/G ratio of 3.06 and a beta of 0.43. Verizon Communications Inc. has a 1 year low of $50.65 and a 1 year high of $61.95. The firm has a fifty day moving average price of $52.94 and a 200 day moving average price of $55.02. The company has a current ratio of 0.97, a quick ratio of 0.92 and a debt-to-equity ratio of 1.83.

Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Tuesday, October 19th. The cell phone carrier reported $1.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.36 by $0.05. Verizon Communications had a net margin of 16.42% and a return on equity of 29.72%. The company had revenue of $32.90 billion during the quarter, compared to analysts’ expectations of $33.24 billion. During the same period in the prior year, the company earned $1.25 earnings per share. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. On average, sell-side analysts forecast that Verizon Communications Inc. will post 5.37 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, November 1st. Shareholders of record on Friday, October 8th were issued a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a yield of 4.96%. This is a boost from Verizon Communications’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend was Thursday, October 7th. Verizon Communications’s dividend payout ratio is 48.03%.

Several brokerages recently commented on VZ. Wells Fargo & Company dropped their target price on Verizon Communications from $58.00 to $56.00 and set an “equal weight” rating on the stock in a report on Thursday, October 21st. Cowen upped their price target on Verizon Communications from $68.00 to $71.00 and gave the company an “outperform” rating in a report on Thursday, October 21st. Barclays dropped their price target on Verizon Communications from $56.00 to $55.00 and set an “equal weight” rating on the stock in a report on Monday, October 11th. Deutsche Bank Aktiengesellschaft initiated coverage on Verizon Communications in a report on Tuesday, October 19th. They issued a “hold” rating and a $55.00 price target on the stock. Finally, Raymond James reaffirmed a “buy” rating and issued a $64.00 price target on shares of Verizon Communications in a report on Tuesday, September 28th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $60.00.

Verizon Communications Company Profile

Verizon Communications, Inc is a holding company, which engages in the provision of communications, information, and entertainment products and services to consumers, businesses, and governmental agencies. It operates through the Verizon Consumer Group (Consumer) and Verizon Business Group (Business) segments.

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Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

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