CKW Financial Group maintained its position in shares of Verizon Communications Inc. (NYSE:VZ) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,864 shares of the cell phone carrier’s stock at the end of the first quarter. Verizon Communications accounts for about 0.1% of CKW Financial Group’s holdings, making the stock its 22nd largest position. CKW Financial Group’s holdings in Verizon Communications were worth $432,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Excalibur Management Corp increased its position in shares of Verizon Communications by 5.7% during the 1st quarter. Excalibur Management Corp now owns 123,976 shares of the cell phone carrier’s stock worth $6,044,000 after purchasing an additional 6,723 shares during the last quarter. Beutel Goodman & Co Ltd. increased its position in shares of Verizon Communications by 6.8% during the 1st quarter. Beutel Goodman & Co Ltd. now owns 4,358,480 shares of the cell phone carrier’s stock worth $179,129,000 after purchasing an additional 277,129 shares during the last quarter. Edge Wealth Management LLC increased its position in shares of Verizon Communications by 1.4% during the 1st quarter. Edge Wealth Management LLC now owns 283,113 shares of the cell phone carrier’s stock worth $13,824,000 after purchasing an additional 3,887 shares during the last quarter. Hefty Wealth Partners increased its position in shares of Verizon Communications by 14,572.2% during the 1st quarter. Hefty Wealth Partners now owns 26,410 shares of the cell phone carrier’s stock worth $1,287,000 after purchasing an additional 26,230 shares during the last quarter. Finally, Cascade Investment Advisors Inc. increased its position in shares of Verizon Communications by 0.4% during the 1st quarter. Cascade Investment Advisors Inc. now owns 33,945 shares of the cell phone carrier’s stock worth $1,655,000 after purchasing an additional 125 shares during the last quarter. 62.33% of the stock is currently owned by hedge funds and other institutional investors.
In related news, EVP Craig L. Silliman sold 610 shares of Verizon Communications stock in a transaction on Friday, July 28th. The stock was sold at an average price of $47.74, for a total transaction of $29,121.40. Following the completion of the sale, the executive vice president now owns 7,819 shares of the company’s stock, valued at $373,279.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 1,830 shares of company stock valued at $86,248 in the last three months. 0.13% of the stock is owned by corporate insiders.
Shares of Verizon Communications Inc. (NYSE:VZ) traded up 1.44% during mid-day trading on Friday, hitting $47.86. The company had a trading volume of 24,626,478 shares. The company has a market capitalization of $195.24 billion, a PE ratio of 12.30 and a beta of 0.57. The company’s 50-day moving average is $47.97 and its 200 day moving average is $47.12. Verizon Communications Inc. has a one year low of $42.80 and a one year high of $54.83.
Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Thursday, July 27th. The cell phone carrier reported $0.96 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.96. The company had revenue of $30.55 billion during the quarter, compared to analyst estimates of $29.84 billion. Verizon Communications had a return on equity of 63.06% and a net margin of 12.88%. The firm’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter last year, the company earned $0.94 earnings per share. On average, equities research analysts forecast that Verizon Communications Inc. will post $3.78 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th will be paid a dividend of $0.59 per share. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Friday, October 6th. This represents a $2.36 annualized dividend and a yield of 4.93%. Verizon Communications’s dividend payout ratio (DPR) is currently 59.23%.
A number of research analysts recently weighed in on VZ shares. Vetr raised Verizon Communications from a “hold” rating to a “buy” rating and set a $47.62 target price on the stock in a report on Tuesday, May 23rd. Royal Bank Of Canada reissued a “hold” rating and set a $48.00 target price on shares of Verizon Communications in a report on Thursday, May 25th. Moffett Nathanson raised Verizon Communications from a “sell” rating to a “neutral” rating in a report on Tuesday, May 30th. BTIG Research reissued a “neutral” rating on shares of Verizon Communications in a report on Tuesday, May 30th. Finally, ValuEngine lowered Verizon Communications from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, twenty-one have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $53.00.
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About Verizon Communications
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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