Security National Bank Purchases New Stake in Verizon Communications Inc. (NYSE:VZ)

Security National Bank bought a new position in shares of Verizon Communications Inc. (NYSE:VZFree Report) in the fourth quarter, Holdings Channel.com reports. The firm bought 2,396 shares of the cell phone carrier’s stock, valued at approximately $90,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in VZ. Pacifica Partners Inc. raised its stake in Verizon Communications by 4.6% in the fourth quarter. Pacifica Partners Inc. now owns 5,800 shares of the cell phone carrier’s stock valued at $223,000 after buying an additional 255 shares during the last quarter. Private Portfolio Partners LLC raised its stake in shares of Verizon Communications by 0.9% in the fourth quarter. Private Portfolio Partners LLC now owns 27,457 shares of the cell phone carrier’s stock worth $1,035,000 after purchasing an additional 255 shares during the last quarter. Selective Wealth Management Inc. raised its stake in shares of Verizon Communications by 2.8% in the fourth quarter. Selective Wealth Management Inc. now owns 9,511 shares of the cell phone carrier’s stock worth $374,000 after purchasing an additional 257 shares during the last quarter. Horizon Bancorp Inc. IN raised its stake in shares of Verizon Communications by 24.9% in the fourth quarter. Horizon Bancorp Inc. IN now owns 1,293 shares of the cell phone carrier’s stock worth $49,000 after purchasing an additional 258 shares during the last quarter. Finally, Princeton Global Asset Management LLC raised its stake in shares of Verizon Communications by 2.4% in the fourth quarter. Princeton Global Asset Management LLC now owns 10,961 shares of the cell phone carrier’s stock worth $413,000 after purchasing an additional 260 shares during the last quarter. Institutional investors own 62.06% of the company’s stock.

Verizon Communications Price Performance

VZ traded down $0.39 during trading on Friday, hitting $40.94. The company’s stock had a trading volume of 10,410,163 shares, compared to its average volume of 15,627,389. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 1.42. Verizon Communications Inc. has a twelve month low of $30.14 and a twelve month high of $43.42. The business’s fifty day simple moving average is $40.27 and its 200 day simple moving average is $39.76. The firm has a market capitalization of $172.33 billion, a price-to-earnings ratio of 15.28, a P/E/G ratio of 3.00 and a beta of 0.42.

Verizon Communications (NYSE:VZGet Free Report) last issued its quarterly earnings data on Monday, April 22nd. The cell phone carrier reported $1.15 EPS for the quarter, beating the consensus estimate of $1.12 by $0.03. Verizon Communications had a return on equity of 20.41% and a net margin of 8.44%. The company had revenue of $33 billion for the quarter, compared to analyst estimates of $33.23 billion. During the same period last year, the company earned $1.20 earnings per share. Verizon Communications’s quarterly revenue was up .3% compared to the same quarter last year. On average, equities research analysts forecast that Verizon Communications Inc. will post 4.59 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 6.50%. The ex-dividend date is Wednesday, July 10th. Verizon Communications’s dividend payout ratio is presently 99.25%.

Wall Street Analyst Weigh In

VZ has been the subject of several research analyst reports. StockNews.com upgraded Verizon Communications from a “hold” rating to a “buy” rating in a research note on Saturday, May 4th. Tigress Financial raised their price objective on Verizon Communications from $50.00 to $52.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Oppenheimer restated an “outperform” rating and issued a $48.00 price objective on shares of Verizon Communications in a research note on Tuesday, April 23rd. Redburn Atlantic upgraded Verizon Communications from a “sell” rating to a “neutral” rating and lifted their price target for the company from $33.00 to $39.00 in a research report on Friday, March 22nd. Finally, Wells Fargo & Company reduced their price target on Verizon Communications from $44.00 to $40.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 23rd. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Verizon Communications has an average rating of “Moderate Buy” and a consensus price target of $44.77.

Read Our Latest Stock Report on Verizon Communications

Verizon Communications Profile

(Free Report)

Verizon Communications Inc, through its subsidiaries, engages in the provision of 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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Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

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