Baldwin Brothers Inc. MA Has $7.05 Million Holdings in Verizon Communications Inc. (VZ)
Baldwin Brothers Inc. MA raised its stake in Verizon Communications Inc. (NYSE:VZ) by 3.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 157,760 shares of the cell phone carrier’s stock after purchasing an additional 4,700 shares during the period. Baldwin Brothers Inc. MA’s holdings in Verizon Communications were worth $7,046,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently bought and sold shares of the company. Arvest Bank Trust Division boosted its holdings in Verizon Communications by 11.6% in the first quarter. Arvest Bank Trust Division now owns 9,829 shares of the cell phone carrier’s stock worth $479,000 after acquiring an additional 1,021 shares in the last quarter. Fox Run Management L.L.C. grew its stake in shares of Verizon Communications by 5.5% during the first quarter. Fox Run Management L.L.C. now owns 7,700 shares of the cell phone carrier’s stock worth $375,000 after acquiring an additional 400 shares during the last quarter. Tompkins Financial Corp increased its holdings in shares of Verizon Communications by 13.1% during the first quarter. Tompkins Financial Corp now owns 81,017 shares of the cell phone carrier’s stock valued at $4,381,000 after acquiring an additional 9,366 shares in the last quarter. Iowa State Bank increased its holdings in shares of Verizon Communications by 2.5% during the first quarter. Iowa State Bank now owns 100,152 shares of the cell phone carrier’s stock valued at $4,882,000 after acquiring an additional 2,475 shares in the last quarter. Finally, Viking Fund Management LLC increased its holdings in shares of Verizon Communications by 15.2% during the first quarter. Viking Fund Management LLC now owns 121,000 shares of the cell phone carrier’s stock valued at $5,899,000 after acquiring an additional 16,000 shares in the last quarter. Institutional investors own 62.24% of the company’s stock.
In other news, EVP Craig L. Silliman sold 610 shares of the firm’s stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $49.23, for a total value of $30,030.30. Following the completion of the transaction, the executive vice president now owns 6,599 shares in the company, valued at $324,868.77. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders sold 1,830 shares of company stock worth $88,828 in the last three months. 0.13% of the stock is owned by corporate insiders.
Verizon Communications Inc. (NYSE:VZ) traded up 0.14% during trading on Wednesday, reaching $49.92. 5,767,969 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $48.29 and a 200 day moving average price of $47.05. The firm has a market capitalization of $203.64 billion, a price-to-earnings ratio of 12.83 and a beta of 0.56. Verizon Communications Inc. has a 52 week low of $42.80 and a 52 week high of $54.83. Verizon Communications also was the recipient of some unusual options trading on Monday. Stock traders acquired 10,796 put options on the stock. This is an increase of 102% compared to the average daily volume of 5,342 put options.
Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Thursday, July 27th. The cell phone carrier reported $0.96 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.96. The firm had revenue of $30.55 billion during the quarter, compared to analysts’ expectations of $29.84 billion. Verizon Communications had a return on equity of 63.06% and a net margin of 12.88%. Verizon Communications’s revenue was up .1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.94 earnings per share. Equities research analysts forecast that Verizon Communications Inc. will post $3.76 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th will be issued a $0.59 dividend. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.58. The ex-dividend date is Friday, October 6th. This represents a $2.36 annualized dividend and a yield of 4.73%. Verizon Communications’s dividend payout ratio is 59.23%.
Several brokerages recently commented on VZ. Bank of America Corporation reaffirmed a “buy” rating on shares of Verizon Communications in a research report on Saturday, June 17th. Zacks Investment Research downgraded shares of Verizon Communications from a “hold” rating to a “sell” rating in a research report on Tuesday, June 20th. Vetr raised shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $47.44 target price on the stock in a research report on Wednesday, June 21st. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating on shares of Verizon Communications in a research report on Wednesday, June 28th. Finally, Wells Fargo & Company restated a “market perform” rating on shares of Verizon Communications in a research note on Wednesday, June 28th. Two research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Verizon Communications presently has an average rating of “Hold” and a consensus price target of $53.00.
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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.
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