Neville Rodie & Shaw Inc. cut its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 16.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 73,735 shares of the cell phone carrier’s stock after selling 14,188 shares during the quarter. Neville Rodie & Shaw Inc.’s holdings in Verizon Communications were worth $3,649,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of VZ. Private Vista LLC grew its holdings in shares of 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 worth $143,000 after purchasing an additional 378,225 shares during the last quarter. Mountain Capital Investment Advisors Inc acquired a new position in shares of Verizon Communications during the second quarter valued at $156,000. Regal Wealth Group Inc. lifted its stake in shares of 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 acquiring an additional 24 shares during the period. Camarda Financial Advisors LLC lifted its stake in shares of Verizon Communications by 11.3% during the second quarter. Camarda Financial Advisors LLC now owns 3,749 shares of the cell phone carrier’s stock valued at $167,000 after acquiring an additional 382 shares during the period. Finally, Atlantic Trust LLC lifted its stake in shares of Verizon Communications by 9.9% during the second quarter. Atlantic Trust LLC now owns 11,164 shares of the cell phone carrier’s stock valued at $170,000 after acquiring an additional 1,005 shares during the period. Institutional investors own 63.37% of the company’s stock.
Verizon Communications Inc. (NYSE:VZ) traded up $0.33 during midday trading on Monday, hitting $52.67. The company’s stock had a trading volume of 28,935,500 shares, compared to its average volume of 15,721,498. The company has a market cap of $214,762.17, a price-to-earnings ratio of 14.04, a PEG ratio of 4.94 and a beta of 0.57. The company has a debt-to-equity ratio of 4.05, a current ratio of 1.07 and a quick ratio of 1.02. Verizon Communications Inc. has a 1 year low of $42.80 and a 1 year high of $54.83.
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 paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 4.48%. The ex-dividend date is Tuesday, January 9th. Verizon Communications’s dividend payout ratio (DPR) is currently 60.51%.
Several brokerages have recently issued reports on VZ. Moffett Nathanson reaffirmed a “buy” rating on shares of Verizon Communications in a research note on Thursday, October 12th. Robert W. Baird reissued a “hold” rating and issued a $49.00 target price on shares of Verizon Communications in a research note on Wednesday, October 4th. HSBC lowered Verizon Communications from a “buy” rating to a “hold” rating and cut their target price for the company from $54.83 to $42.80 in a research note on Thursday. They noted that the move was a valuation call. Wells Fargo & Company raised Verizon Communications from a “market perform” rating to an “outperform” rating and set a $50.00 target price on the stock in a research note on Monday, November 20th. Finally, ValuEngine raised Verizon Communications from a “hold” rating to a “buy” rating in a research note on Monday, October 23rd. Two research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Verizon Communications presently has a consensus rating of “Hold” and a consensus price target of $51.99.
In related news, EVP Craig L. Silliman sold 610 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $47.41, for a total transaction of $28,920.10. Following the transaction, the executive vice president now directly owns 3,269 shares of the company’s stock, valued at approximately $154,983.29. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last ninety days, insiders have sold 1,830 shares of company stock worth $88,609. 0.13% of the stock is owned by company insiders.
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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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