Rand Wealth LLC Has $8.64 Million Position in Verizon Communications Inc. (VZ)

Rand Wealth LLC increased its position in Verizon Communications Inc. (NYSE:VZ) by 1.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 174,578 shares of the cell phone carrier’s stock after purchasing an additional 2,892 shares during the period. Verizon Communications makes up approximately 1.0% of Rand Wealth LLC’s holdings, making the stock its 29th biggest position. Rand Wealth LLC’s holdings in Verizon Communications were worth $8,640,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in VZ. Private Vista LLC lifted its stake in Verizon Communications by 3,339.1% during the 2nd quarter. Private Vista LLC now owns 389,552 shares of the cell phone carrier’s stock valued at $143,000 after acquiring an additional 378,225 shares during the period. Mountain Capital Investment Advisors Inc bought a new position in Verizon Communications during the 2nd quarter valued at about $156,000. Regal Wealth Group Inc. lifted its stake in Verizon Communications by 0.7% during the 2nd 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 Verizon Communications by 11.3% during the 2nd 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 Verizon Communications by 9.9% during the 2nd 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 63.22% of the company’s stock.

Several equities analysts have issued reports on VZ shares. Nomura upgraded shares of Verizon Communications from a “neutral” rating to a “buy” rating and upped their target price for the company from $47.00 to $61.00 in a research note on Tuesday, December 12th. KeyCorp reiterated a “hold” rating on shares of Verizon Communications in a research note on Saturday, October 21st. Cowen reiterated a “hold” rating and issued a $52.00 price objective on shares of Verizon Communications in a research note on Tuesday, September 19th. Macquarie reiterated a “hold” rating and issued a $52.00 price objective on shares of Verizon Communications in a research note on Sunday, October 22nd. Finally, ValuEngine upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Two analysts have rated the stock with a sell rating, nineteen have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The company currently 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 stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $47.41, for a total value of $28,920.10. Following the completion of the sale, 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.13% of the company’s stock.

Shares of Verizon Communications Inc. (NYSE VZ) opened at $53.22 on Wednesday. The stock has a market cap of $216,985.45, a P/E ratio of 13.65, a P/E/G ratio of 5.00 and a beta of 0.57. Verizon Communications Inc. has a fifty-two week low of $42.80 and a fifty-two week high of $54.83. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 4.05.

Verizon Communications (NYSE:VZ) last released its earnings results on Thursday, October 19th. The cell phone carrier reported $0.98 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.98. The company had revenue of $31.70 billion during the quarter, compared to analyst estimates of $31.45 billion. Verizon Communications had a net margin of 12.80% and a return on equity of 58.66%. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.01 EPS. analysts predict that Verizon Communications Inc. will post 3.77 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Wednesday, January 10th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 4.43%. The ex-dividend date is Tuesday, January 9th. Verizon Communications’s dividend payout ratio is 60.51%.

COPYRIGHT VIOLATION NOTICE: This article was first posted by Community Financial News and is the sole property of of Community Financial News. If you are viewing this article on another publication, it was stolen and reposted in violation of US and international copyright law. The original version of this article can be viewed at https://www.com-unik.info/2017/12/27/rand-wealth-llc-has-8-64-million-position-in-verizon-communications-inc-vz.html.

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.

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

Receive News & Ratings for Verizon Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verizon Communications and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit