BTC Capital Management Inc. lifted its stake in shares of Verizon Communications Inc. (NYSE:VZ – Free Report) by 4.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,453 shares of the cell phone carrier’s stock after purchasing an additional 1,894 shares during the quarter. BTC Capital Management Inc.’s holdings in Verizon Communications were worth $1,541,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of the stock. Cascade Investment Advisors Inc. acquired a new position in Verizon Communications during the first quarter worth $32,000. Harvest Fund Management Co. Ltd grew its holdings in Verizon Communications by 544.2% during the second quarter. Harvest Fund Management Co. Ltd now owns 889 shares of the cell phone carrier’s stock worth $33,000 after acquiring an additional 751 shares during the period. Kepos Capital LP acquired a new position in Verizon Communications during the fourth quarter worth $36,000. Founders Capital Management grew its holdings in Verizon Communications by 44.2% during the second quarter. Founders Capital Management now owns 979 shares of the cell phone carrier’s stock worth $36,000 after acquiring an additional 300 shares during the period. Finally, Steward Financial Group LLC grew its holdings in Verizon Communications by 92.9% during the first quarter. Steward Financial Group LLC now owns 957 shares of the cell phone carrier’s stock worth $37,000 after acquiring an additional 461 shares during the period. Hedge funds and other institutional investors own 61.06% of the company’s stock.
Insider Buying and Selling at Verizon Communications
In other Verizon Communications news, EVP Samantha Hammock sold 12,557 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $33.29, for a total transaction of $418,022.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.02% of the stock is owned by insiders.
Analyst Ratings Changes
Verizon Communications Stock Performance
Verizon Communications stock opened at $33.54 on Tuesday. Verizon Communications Inc. has a 12 month low of $31.25 and a 12 month high of $42.58. The stock’s 50-day moving average is $33.70 and its 200-day moving average is $35.94. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.73 and a quick ratio of 0.69. The company has a market cap of $140.98 billion, a price-to-earnings ratio of 6.71, a price-to-earnings-growth ratio of 2.06 and a beta of 0.36.
Verizon Communications (NYSE:VZ – Get Free Report) last issued its quarterly earnings data on Tuesday, July 25th. The cell phone carrier reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.04. Verizon Communications had a return on equity of 22.28% and a net margin of 15.58%. The firm had revenue of $32.60 billion during the quarter, compared to analyst estimates of $33.30 billion. During the same quarter last year, the firm earned $1.31 EPS. Verizon Communications’s quarterly revenue was down 3.5% on a year-over-year basis. Equities analysts anticipate that Verizon Communications Inc. will post 4.73 earnings per share for the current year.
Verizon Communications Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th will be paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 7.93%. The ex-dividend date of this dividend is Friday, October 6th. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.65. Verizon Communications’s dividend payout ratio (DPR) is 52.20%.
About Verizon Communications
Verizon Communications Inc, through its subsidiaries, provides communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. It operates in two segments, Verizon Consumer Group (Consumer) and Verizon Business Group (Business).
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