IFP Advisors Inc lessened its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 1.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 382,769 shares of the cell phone carrier’s stock after selling 6,576 shares during the quarter. Verizon Communications makes up 0.8% of IFP Advisors Inc’s investment portfolio, making the stock its 16th largest holding. IFP Advisors Inc’s holdings in Verizon Communications were worth $18,943,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the business. Flaharty Asset Management LLC acquired a new stake in shares of Verizon Communications during the 1st quarter valued at about $203,000. Sterling Investment Advisors Ltd. lifted its holdings in shares of Verizon Communications by 5.1% during the 1st quarter. Sterling Investment Advisors Ltd. now owns 69,133 shares of the cell phone carrier’s stock valued at $3,370,000 after buying an additional 3,375 shares during the last quarter. PVG Asset Management Corp acquired a new stake in shares of Verizon Communications during the 1st quarter valued at about $1,462,000. Macquarie Group Ltd. lifted its holdings in shares of Verizon Communications by 2.1% during the 1st quarter. Macquarie Group Ltd. now owns 15,452,275 shares of the cell phone carrier’s stock valued at $753,262,000 after buying an additional 318,586 shares during the last quarter. Finally, Security National Bank of Sioux City Iowa IA lifted its holdings in shares of Verizon Communications by 3.5% during the 1st quarter. Security National Bank of Sioux City Iowa IA now owns 32,047 shares of the cell phone carrier’s stock valued at $1,562,000 after buying an additional 1,091 shares during the last quarter. 63.22% of the stock is currently owned by institutional investors.
VZ has been the subject of several research reports. Cowen reiterated a “hold” rating and set a $52.00 price target on shares of Verizon Communications in a report on Tuesday, September 19th. Robert W. Baird reiterated a “hold” rating and set a $49.00 price target on shares of Verizon Communications in a report on Wednesday, October 4th. KeyCorp reiterated a “hold” rating on shares of Verizon Communications in a report on Wednesday, October 11th. Moffett Nathanson restated a “buy” rating on shares of Verizon Communications in a report on Thursday, October 12th. Finally, SunTrust Banks restated a “hold” rating and issued a $50.00 target price on shares of Verizon Communications in a report on Friday, October 20th. Two investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $51.98.
Verizon Communications (NYSE:VZ) last issued its quarterly 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 company had revenue of $31.70 billion for the quarter, compared to the consensus estimate of $31.45 billion. Verizon Communications had a return on equity of 58.66% and a net margin of 12.80%. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.01 EPS. equities analysts anticipate that Verizon Communications Inc. will post 3.77 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 4.57%. The ex-dividend date is Tuesday, January 9th. Verizon Communications’s dividend payout ratio is currently 60.51%.
In other news, EVP Craig L. Silliman sold 610 shares of the business’s 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 sale, the executive vice president now directly owns 5,989 shares in the company, valued at $291,185.18. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.13% of the company’s stock.
Verizon Communications Company 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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