Trading Report: Today, YHB Investment Advisors Inc. Sold shares of Verizon Communications Inc. (VZ)

Today, YHB Investment Advisors Inc. Sold shares of Verizon Communications Inc. (VZ)

YHB Investment Advisors Inc. lowered its position in Verizon Communications Inc. (NYSE:VZ) by 2.2% during the third quarter, Holdings Channel reports. The fund owned 23,294 shares of the cell phone carrier’s stock after selling 518 shares during the period. YHB Investment Advisors Inc.’s holdings in Verizon Communications were worth $1,211,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in VZ. Taylor Wealth Management Partners raised its position in shares of Verizon Communications by 15.2% in the second quarter. Taylor Wealth Management Partners now owns 2,275 shares of the cell phone carrier’s stock worth $127,000 after buying an additional 300 shares during the period. Lowe fs LLC raised its position in shares of Verizon Communications by 0.8% in the second quarter. Lowe fs LLC now owns 2,356 shares of the cell phone carrier’s stock worth $132,000 after buying an additional 19 shares during the period. Daiwa SB Investments Ltd. raised its position in shares of Verizon Communications by 11,938.5% in the third quarter. Daiwa SB Investments Ltd. now owns 3,130 shares of the cell phone carrier’s stock worth $163,000 after buying an additional 3,104 shares during the period. First National Bank Sioux Falls raised its position in shares of Verizon Communications by 8.7% in the second quarter. First National Bank Sioux Falls now owns 3,408 shares of the cell phone carrier’s stock worth $190,000 after buying an additional 272 shares during the period. Finally, Fenimore Asset Management Inc. acquired a new position in shares of Verizon Communications during the second quarter worth about $202,000. 63.35% of the stock is currently owned by institutional investors.

Shares of Verizon Communications Inc. (NYSE:VZ) traded up 0.88% during mid-day trading on Friday, hitting $50.67. The stock had a trading volume of 8,087,235 shares. Verizon Communications Inc. has a one year low of $43.79 and a one year high of $56.95. The firm has a market cap of $206.56 billion, a price-to-earnings ratio of 14.77 and a beta of 0.38. The company has a 50-day moving average of $48.54 and a 200 day moving average of $51.87.

Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Thursday, October 20th. The cell phone carrier reported $1.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.02. Verizon Communications had a return on equity of 78.75% and a net margin of 10.97%. The business earned $30.90 billion during the quarter, compared to analyst estimates of $31.08 billion. During the same quarter last year, the company posted $1.04 EPS. Verizon Communications’s revenue for the quarter was down 6.7% on a year-over-year basis. On average, equities research analysts forecast that Verizon Communications Inc. will post $3.90 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 1st. Investors of record on Friday, October 7th were given a $0.0125 dividend. The ex-dividend date of this dividend was Wednesday, October 5th. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.10%. Verizon Communications’s dividend payout ratio (DPR) is 67.15%.

VZ has been the topic of a number of analyst reports. Vetr lowered shares of Verizon Communications from a “strong-buy” rating to a “buy” rating and set a $58.40 price objective on the stock. in a research report on Thursday, September 22nd. Drexel Hamilton upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $54.00 price objective on the stock in a research report on Monday, October 24th. Barclays PLC reiterated an “equal weight” rating and issued a $52.00 price objective on shares of Verizon Communications in a research report on Friday, August 26th. Pacific Crest reiterated an “equal weight” rating on shares of Verizon Communications in a research report on Sunday, October 23rd. Finally, HSBC reiterated a “hold” rating and issued a $54.00 price objective on shares of Verizon Communications in a research report on Wednesday, September 28th. One research analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $54.61.

In related news, EVP Craig L. Silliman sold 672 shares of the stock in a transaction on Wednesday, October 26th. The stock was sold at an average price of $47.76, for a total value of $32,094.72. Following the completion of the transaction, the executive vice president now owns 9,182 shares in the company, valued at approximately $438,532.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.10% of the stock is owned by corporate 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.

Related posts

Leave a Comment