Columbia Trust Co 01012016 Raises Stock Position in Verizon Communications Inc. (NYSE:VZ)

Columbia Trust Co 01012016 lifted its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 3.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,618 shares of the cell phone carrier’s stock after acquiring an additional 420 shares during the quarter. Columbia Trust Co 01012016’s holdings in Verizon Communications were worth $789,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. BEAM Asset Management LLC boosted its stake in shares of Verizon Communications by 10.8% during the third quarter. BEAM Asset Management LLC now owns 4,997 shares of the cell phone carrier’s stock valued at $270,000 after purchasing an additional 488 shares in the last quarter. WestHill Financial Advisors Inc. bought a new position in shares of Verizon Communications during the third quarter valued at approximately $327,000. Alpha Omega Wealth Management LLC boosted its stake in shares of Verizon Communications by 0.8% during the third quarter. Alpha Omega Wealth Management LLC now owns 173,434 shares of the cell phone carrier’s stock valued at $9,367,000 after purchasing an additional 1,384 shares in the last quarter. Stolper Co boosted its stake in shares of Verizon Communications by 4.1% during the third quarter. Stolper Co now owns 32,827 shares of the cell phone carrier’s stock valued at $1,773,000 after purchasing an additional 1,305 shares in the last quarter. Finally, Kiley Juergens Wealth Management LLC boosted its stake in shares of Verizon Communications by 9.8% during the third quarter. Kiley Juergens Wealth Management LLC now owns 39,250 shares of the cell phone carrier’s stock valued at $2,119,000 after purchasing an additional 3,511 shares in the last quarter. 63.61% of the stock is currently owned by institutional investors and hedge funds.

In related news, EVP Craig L. Silliman sold 1,554 shares of the firm’s stock in a transaction on Thursday, November 4th. The shares were sold at an average price of $52.91, for a total transaction of $82,222.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders have sold 4,662 shares of company stock valued at $252,898. 0.10% of the stock is currently owned by corporate insiders.

NYSE VZ opened at $51.66 on Thursday. The company has a fifty day simple moving average of $52.94 and a two-hundred day simple moving average of $55.02. The stock has a market cap of $213.88 billion, a P/E ratio of 9.69, a P/E/G ratio of 3.06 and a beta of 0.43. Verizon Communications Inc. has a 12-month low of $50.65 and a 12-month high of $61.95. The company has a current ratio of 0.97, a quick ratio of 0.92 and a debt-to-equity ratio of 1.83.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Tuesday, October 19th. The cell phone carrier reported $1.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.36 by $0.05. Verizon Communications had a net margin of 16.42% and a return on equity of 29.72%. The business had revenue of $32.90 billion during the quarter, compared to analysts’ expectations of $33.24 billion. During the same quarter last year, the company posted $1.25 earnings per share. The business’s quarterly revenue was up 4.4% on a year-over-year basis. As a group, sell-side analysts forecast that Verizon Communications Inc. will post 5.37 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, November 1st. Investors of record on Friday, October 8th were issued a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a dividend yield of 4.96%. The ex-dividend date of this dividend was Thursday, October 7th. This is a boost from Verizon Communications’s previous quarterly dividend of $0.63. Verizon Communications’s dividend payout ratio (DPR) is 48.03%.

A number of equities analysts have recently issued reports on VZ shares. Raymond James reiterated a “buy” rating and set a $64.00 price objective on shares of Verizon Communications in a research note on Tuesday, September 28th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Verizon Communications in a research note on Tuesday, October 19th. They set a “hold” rating and a $55.00 price objective on the stock. Wells Fargo & Company lowered their target price on shares of Verizon Communications from $58.00 to $56.00 and set an “equal weight” rating for the company in a research note on Thursday, October 21st. Loop Capital assumed coverage on shares of Verizon Communications in a research note on Monday, September 20th. They issued a “hold” rating and a $57.00 target price for the company. Finally, Barclays lowered their target price on shares of Verizon Communications from $56.00 to $55.00 and set an “equal weight” rating for the company in a research note on Monday, October 11th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $60.00.

Verizon Communications Company Profile

Verizon Communications, Inc is a holding company, which engages in the provision of communications, information, and entertainment products and services to consumers, businesses, and governmental agencies. It operates through the Verizon Consumer Group (Consumer) and Verizon Business Group (Business) segments.

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

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