Todays Report: The TNB Financial Increases Position in Verizon Communications Inc. (VZ)

The TNB Financial Increases Position in Verizon Communications Inc. (VZ)

TNB Financial boosted its position in Verizon Communications Inc. (NYSE:VZ) by 8.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 86,256 shares of the cell phone carrier’s stock after buying an additional 7,010 shares during the period. Verizon Communications makes up 1.3% of TNB Financial’s investment portfolio, making the stock its 28th largest position. TNB Financial’s holdings in Verizon Communications were worth $4,817,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cohen Lawrence B increased its stake in Verizon Communications by 13.1% in the first quarter. Cohen Lawrence B now owns 52,575 shares of the cell phone carrier’s stock valued at $2,843,000 after buying an additional 6,110 shares during the last quarter. Carroll Financial Associates Inc. increased its stake in Verizon Communications by 9.1% in the first quarter. Carroll Financial Associates Inc. now owns 27,518 shares of the cell phone carrier’s stock valued at $1,488,000 after buying an additional 2,297 shares during the last quarter. Narwhal Capital Management increased its stake in Verizon Communications by 0.6% in the first quarter. Narwhal Capital Management now owns 93,045 shares of the cell phone carrier’s stock valued at $5,032,000 after buying an additional 600 shares during the last quarter. GW&K Investment Management LLC increased its stake in Verizon Communications by 9.2% in the first quarter. GW&K Investment Management LLC now owns 352,357 shares of the cell phone carrier’s stock valued at $19,055,000 after buying an additional 29,585 shares during the last quarter. Finally, Delta Capital Management LLC increased its stake in Verizon Communications by 376.3% in the first quarter. Delta Capital Management LLC now owns 49,485 shares of the cell phone carrier’s stock valued at $2,676,000 after buying an additional 39,095 shares during the last quarter. Hedge funds and other institutional investors own 63.47% of the company’s stock.

Shares of Verizon Communications Inc. (NYSE:VZ) traded up 0.80% on Wednesday, hitting $50.30. 8,880,104 shares of the company were exchanged. The stock has a market capitalization of $205.04 billion, a PE ratio of 14.21 and a beta of 0.30. Verizon Communications Inc. has a 52-week low of $43.79 and a 52-week high of $56.95. The firm’s 50-day moving average is $51.95 and its 200-day moving average is $52.69.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Tuesday, July 26th. The cell phone carrier reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.02. Verizon Communications had a net margin of 11.10% and a return on equity of 87.41%. The business earned $30.53 billion during the quarter, compared to analysts’ expectations of $30.95 billion. During the same quarter in the prior year, the company posted $1.04 EPS. The business’s revenue for the quarter was down 5.3% on a year-over-year basis. Equities research analysts predict that Verizon Communications Inc. will post $3.89 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Friday, October 7th will be paid a $0.0125 dividend. The ex-dividend date is Wednesday, October 5th. This represents a $0.05 annualized dividend and a dividend yield of 0.10%. Verizon Communications’s dividend payout ratio (DPR) is 65.25%.

Several analysts recently weighed in on the company. Vetr downgraded Verizon Communications from a “strong-buy” rating to a “buy” rating and set a $57.60 price target on the stock. in a research note on Monday, October 3rd. HSBC restated a “hold” rating and issued a $54.00 price target on shares of Verizon Communications in a research note on Wednesday, September 28th. Jefferies Group reaffirmed a “hold” rating on shares of Verizon Communications in a research report on Monday, September 19th. Nomura reaffirmed a “hold” rating and issued a $47.00 price objective on shares of Verizon Communications in a research report on Monday, September 12th. Finally, Barclays PLC reaffirmed an “equal weight” rating and issued a $52.00 price objective on shares of Verizon Communications in a research report on Friday, August 26th. Twenty-four research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Verizon Communications presently has a consensus rating of “Hold” and an average target price of $54.44.

In other news, EVP Craig L. Silliman sold 672 shares of the stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $52.76, for a total value of $35,454.72. Following the completion of the sale, the executive vice president now owns 10,526 shares of the company’s stock, valued at approximately $555,351.76. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.10% of the stock is currently owned by insiders.

Verizon Communications Company Profile

Verizon Communications Inc (Verizon) is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. The Company offers voice, data and video services and solutions on its wireless and wireline networks.

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