Verizon Communications Inc. (NYSE:VZ) Shares Purchased by Tompkins Financial Corp

Tompkins Financial Corp increased its position in shares of Verizon Communications Inc. (NYSE:VZ) by 12.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 107,942 shares of the cell phone carrier’s stock after purchasing an additional 11,606 shares during the quarter. Verizon Communications accounts for 1.2% of Tompkins Financial Corp’s investment portfolio, making the stock its 15th biggest holding. Tompkins Financial Corp’s holdings in Verizon Communications were worth $6,627,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of VZ. Kayne Anderson Rudnick Investment Management LLC acquired a new position in shares of Verizon Communications in the second quarter worth $28,000. Lenox Wealth Advisors LLC acquired a new position in Verizon Communications in the third quarter valued at $39,000. Advocacy Wealth Management Services LLC increased its stake in Verizon Communications by 35.8% in the third quarter. Advocacy Wealth Management Services LLC now owns 687 shares of the cell phone carrier’s stock valued at $41,000 after purchasing an additional 181 shares during the last quarter. WealthStone Inc. acquired a new position in Verizon Communications in the second quarter valued at $45,000. Finally, Fulcrum Equity Management acquired a new position in Verizon Communications in the third quarter valued at $48,000. 65.24% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE VZ opened at $60.48 on Thursday. The stock’s 50 day moving average price is $60.64 and its two-hundred day moving average price is $59.11. Verizon Communications Inc. has a 52-week low of $52.28 and a 52-week high of $62.22. The stock has a market capitalization of $249.47 billion, a P/E ratio of 15.55, a PEG ratio of 3.79 and a beta of 0.51. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 1.99.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Friday, October 25th. The cell phone carrier reported $1.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.01. Verizon Communications had a return on equity of 34.50% and a net margin of 12.26%. The firm had revenue of $32.89 billion for the quarter, compared to analysts’ expectations of $32.74 billion. During the same quarter in the prior year, the firm posted $1.22 earnings per share. Verizon Communications’s revenue for the quarter was up .9% compared to the same quarter last year. On average, analysts anticipate that Verizon Communications Inc. will post 4.83 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be paid a dividend of $0.615 per share. This represents a $2.46 annualized dividend and a yield of 4.07%. The ex-dividend date of this dividend is Thursday, January 9th. Verizon Communications’s payout ratio is currently 52.23%.

Several equities analysts recently commented on VZ shares. ValuEngine upgraded Verizon Communications from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Zacks Investment Research lowered Verizon Communications from a “buy” rating to a “hold” rating and set a $62.00 target price for the company. in a research note on Saturday, January 11th. Nomura lowered Verizon Communications from a “buy” rating to a “neutral” rating and dropped their target price for the company from $67.00 to $65.00 in a research note on Monday, November 4th. HSBC lowered Verizon Communications from a “buy” rating to a “hold” rating and set a $65.00 target price for the company. in a research note on Thursday, November 14th. Finally, New Street Research reissued a “buy” rating on shares of Verizon Communications in a research report on Friday, January 10th. Ten investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Verizon Communications has an average rating of “Hold” and a consensus target price of $63.41.

In other news, EVP Craig L. Silliman sold 1,349 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $60.42, for a total transaction of $81,506.58. Following the sale, the executive vice president now directly owns 19,983 shares in the company, valued at approximately $1,207,372.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Craig L. Silliman sold 1,346 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $59.55, for a total value of $80,154.30. Following the sale, the executive vice president now owns 18,637 shares in the company, valued at $1,109,833.35. The disclosure for this sale can be found here. Corporate insiders own 0.03% of the company’s stock.

Verizon Communications Profile

Verizon Communications Inc, through its subsidiaries, offers communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company's Wireless segment provides wireless voice and data services; Internet access on various notebook computers and tablets; international travel wireless services; and network access services to deliver various Internet of Things products and services, as well as offers digital advertising and digital media services platforms.

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

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