LaFleur & Godfrey LLC, an institutional investor, has increased its holdings in Verizon Communications Inc. by 8.6% during the second quarter, according to a recent filing with the SEC. The investor purchased an additional 3,567 shares of the cell phone carrier’s stock, bringing its total holdings to 45,038 shares, which are valued at $1,675,000. This increase in holdings reflects the confidence that LaFleur & Godfrey LLC has in the future performance of Verizon Communications.
Other institutional investors and hedge funds, such as BKA Wealth Consulting Inc., Providence Capital Advisors LLC, ICA Group Wealth Management LLC, AE Wealth Management LLC, and ELCO Management Co. LLC, have also made modifications to their holdings of Verizon Communications. These changes indicate the growing interest in the stock from the investment community.
Verizon Communications, trading under the ticker symbol VZ on the New York Stock Exchange, opened at $32.41. The company has a 50-day moving average of $33.54 and a 200-day moving average of $35.64. With a market capitalization of $136.25 billion, Verizon Communications has a P/E ratio of 6.48 and a beta of 0.36. The company also has a debt-to-equity ratio of 1.43. These statistics provide useful information for potential investors to consider when evaluating Verizon Communications’ stock.
In terms of earnings, Verizon Communications reported a better-than-expected EPS of $1.21 for the second quarter, surpassing the consensus estimate of $1.17. The company also saw a return on equity of 22.28% and a net margin of 15.58%. However, its revenue for the quarter was down 3.5% compared to the same period last year.
Verizon Communications has announced an increase in its quarterly dividend payment. Stockholders of record on Tuesday, October 10th will receive a $0.665 dividend, which represents a yield of 8.21%. This is a positive change from the company’s previous quarterly dividend of $0.65. With a dividend payout ratio (DPR) of 52.20%, Verizon Communications continues to provide value to its shareholders.
Multiple equities analysts have provided ratings for Verizon Communications. While some have downgraded the stock, others have maintained a positive outlook. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $43.40.
In other news, an executive vice president of Verizon Communications, Samantha Hammock, sold 12,557 shares of the company’s stock in August. The shares were sold at an average price of $33.29, resulting in a total transaction value of $418,022.53.
Verizon Communications Inc. is a global communications company that provides a wide range of products and services to consumers, businesses, and governmental entities. Its operations are divided into two segments: Verizon Consumer Group and Verizon Business Group.
Investors and potential investors can obtain the latest information on Verizon Communications, including insider trades and holdings, from HoldingsChannel.com and MarketBeat.com.
Source: SEC filing with the Securities and Exchange Commission
Definition of terms:
– Verizon Communications Inc. (NYSE:VZ) – a global communications company
– 13F filing – a quarterly report of institutional investment managers of their holdings
– SEC – the U.S. Securities and Exchange Commission
– Institutional investors – organizations that pool large sums of money to invest on behalf of their clients
– Hedge funds – investment funds that pool capital from accredited investors and invest in a variety of assets
– Ticker symbol – a unique series of letters used to identify a particular stock
– Market capitalization – the total dollar value of a company’s outstanding shares of stock
– EPS – earnings per share, a measure of a company’s net income divided by its total number of outstanding shares
– P/E ratio – price-to-earnings ratio, a valuation ratio of a company’s current share price relative to its earnings per share
– Beta – a measure of a stock’s volatility compared to the overall market
– Dividend – a distribution of a portion of a company’s earnings to its shareholders
– Yield – the income return on an investment, usually expressed as a percentage of the investment’s cost or current value
– DPR – dividend payout ratio, the proportion of earnings paid out to shareholders as dividends
– Equities analysts – analysts who provide analysis and recommendations on publicly traded stocks
– MarketBeat.com – a financial news website that provides analysis and insights for investors