Bank of Edwardsville Sells 261 Shares of Verizon Communications Inc. (NYSE:VZ)

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Bank of Edwardsville decreased its position in shares of Verizon Communications Inc. (NYSE:VZ) by 2.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,605 shares of the cell phone carrier’s stock after selling 261 shares during the period. Verizon Communications makes up approximately 0.8% of Bank of Edwardsville’s holdings, making the stock its 22nd largest holding. Bank of Edwardsville’s holdings in Verizon Communications were worth $663,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in VZ. S. R. Schill & Associates increased its holdings in shares of Verizon Communications by 2.4% in the fourth quarter. S. R. Schill & Associates now owns 7,625 shares of the cell phone carrier’s stock worth $429,000 after buying an additional 178 shares during the period. Hengehold Capital Management LLC increased its holdings in shares of Verizon Communications by 0.4% in the fourth quarter. Hengehold Capital Management LLC now owns 47,560 shares of the cell phone carrier’s stock worth $2,674,000 after buying an additional 179 shares during the period. Cascade Investment Advisors Inc. increased its holdings in shares of Verizon Communications by 21.5% in the fourth quarter. Cascade Investment Advisors Inc. now owns 1,033 shares of the cell phone carrier’s stock worth $58,000 after buying an additional 183 shares during the period. CKW Financial Group increased its holdings in shares of Verizon Communications by 2.7% in the fourth quarter. CKW Financial Group now owns 7,637 shares of the cell phone carrier’s stock worth $429,000 after buying an additional 200 shares during the period. Finally, Capital Asset Advisory Services LLC increased its holdings in shares of Verizon Communications by 3.4% in the second quarter. Capital Asset Advisory Services LLC now owns 6,121 shares of the cell phone carrier’s stock worth $350,000 after buying an additional 200 shares during the period. Institutional investors and hedge funds own 65.76% of the company’s stock.

In related news, EVP Craig L. Silliman sold 1,349 shares of the business’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $58.15, for a total value of $78,444.35. Following the completion of the transaction, the executive vice president now directly owns 25,379 shares in the company, valued at approximately $1,475,788.85. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last 90 days, insiders sold 4,047 shares of company stock valued at $234,591. 0.03% of the stock is owned by company insiders.

VZ has been the topic of several analyst reports. Bank of America set a $64.00 price objective on Verizon Communications and gave the stock a “buy” rating in a report on Tuesday, April 23rd. UBS Group cut Verizon Communications from a “buy” rating to a “neutral” rating and set a $57.70 target price on the stock. in a research note on Thursday, May 30th. They noted that the move was a valuation call. Citigroup cut Verizon Communications from a “buy” rating to a “neutral” rating and set a $62.00 target price on the stock. in a research note on Monday, July 8th. Goldman Sachs Group reissued a “buy” rating and issued a $65.00 target price on shares of Verizon Communications in a research note on Tuesday, April 23rd. Finally, Royal Bank of Canada reaffirmed a “neutral” rating and set a $57.00 price objective on shares of Verizon Communications in a research report on Tuesday, April 23rd. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $59.33.

Shares of VZ opened at $56.30 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.87 and a debt-to-equity ratio of 2.12. The business’s 50 day moving average price is $56.63 and its 200-day moving average price is $57.09. Verizon Communications Inc. has a 52 week low of $52.28 and a 52 week high of $61.58. The stock has a market cap of $230.32 billion, a P/E ratio of 11.95, a P/E/G ratio of 2.72 and a beta of 0.53.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Thursday, August 1st. The cell phone carrier reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.03. Verizon Communications had a return on equity of 34.91% and a net margin of 12.08%. The firm had revenue of $32.07 billion for the quarter, compared to analysts’ expectations of $32.42 billion. During the same period in the previous year, the firm posted $1.20 EPS. The business’s revenue for the quarter was down .4% compared to the same quarter last year. On average, equities analysts anticipate that Verizon Communications Inc. will post 4.8 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were issued a $0.6025 dividend. The ex-dividend date was Tuesday, July 9th. This represents a $2.41 dividend on an annualized basis and a yield of 4.28%. Verizon Communications’s payout ratio is currently 51.17%.

About Verizon Communications

Verizon Communications Inc, through its subsidiaries, offers communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company's Wireless segment provides wireless voice and data services; Internet access on various notebook computers and tablets; international travel wireless services; and network access services to deliver various Internet of Things products and services, as well as offers digital advertising and digital media services platforms.

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Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

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