Verizon Communications Inc. (NYSE:VZ) Shares Bought by First National Bank of Mount Dora Trust Investment Services

Defense World · Sep 24, 2022 22:51

First National Bank of Mount Dora Trust Investment Services lifted its stake in Verizon Communications Inc. (NYSE:VZ – Get Rating) by 3.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 147,043 shares of the cell phone carrier's stock after acquiring an additional 4,301 shares during the period. Verizon Communications accounts for approximately 2.6% of First National Bank of Mount Dora Trust Investment Services' holdings, making the stock its 6th biggest position. First National Bank of Mount Dora Trust Investment Services' holdings in Verizon Communications were worth $7,463,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Rinkey Investments acquired a new stake in Verizon Communications during the fourth quarter valued at approximately $27,000. Cordant Inc. acquired a new stake in Verizon Communications during the first quarter valued at approximately $30,000. Lansing Street Advisors acquired a new stake in Verizon Communications during the first quarter valued at approximately $35,000. Conrad Siegel Investment Advisors Inc. acquired a new stake in Verizon Communications during the first quarter valued at approximately $36,000. Finally, Gibson Wealth Advisors LLC acquired a new stake in Verizon Communications during the fourth quarter valued at approximately $37,000. 62.83% of the stock is owned by institutional investors and hedge funds.

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Insider Transactions at Verizon Communications

In other news, EVP Craig L. Silliman sold 1,558 shares of the stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $51.42, for a total transaction of $80,112.36. Following the transaction, the executive vice president now owns 33,403 shares in the company, valued at approximately $1,717,582.26. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Moffett Nathanson lowered shares of Verizon Communications from a "market perform" rating to an "underperform" rating and set a $41.00 target price for the company. in a research note on Thursday, August 18th. Bank of America lowered shares of Verizon Communications from a "buy" rating to a "neutral" rating and cut their target price for the company from $64.00 to $51.00 in a research note on Thursday, July 28th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Verizon Communications from $59.00 to $58.00 in a research report on Tuesday, July 19th. Wolfe Research reduced their price target on shares of Verizon Communications from $60.00 to $51.00 and set a "peer perform" rating for the company in a research report on Thursday, June 2nd. Finally, Cowen reduced their price target on shares of Verizon Communications from $71.00 to $64.00 and set an "outperform" rating for the company in a research report on Monday, July 25th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Verizon Communications has an average rating of "Hold" and an average price target of $55.61.

Verizon Communications Stock Down 1.0 %

Verizon Communications stock opened at $39.52 on Friday. The firm has a market cap of $165.97 billion, a PE ratio of 7.92, a P/E/G ratio of 1.83 and a beta of 0.36. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.69 and a current ratio of 0.76. The firm's 50 day moving average price is $43.77 and its two-hundred day moving average price is $48.41. Verizon Communications Inc. has a twelve month low of $39.11 and a twelve month high of $55.51.

Verizon Communications (NYSE:VZ – Get Rating) last released its quarterly earnings data on Friday, July 22nd. The cell phone carrier reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.01). The company had revenue of $33.79 billion during the quarter, compared to analyst estimates of $33.77 billion. Verizon Communications had a net margin of 15.48% and a return on equity of 26.95%. The firm's quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.37 EPS. On average, research analysts predict that Verizon Communications Inc. will post 5.19 EPS for the current fiscal year.

Verizon Communications Increases Dividend

The firm 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 dividend of $0.6525 per share. This is a positive change from Verizon Communications's previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Thursday, October 6th. This represents a $2.61 annualized dividend and a dividend yield of 6.60%. Verizon Communications's dividend payout ratio is 51.30%.

Verizon Communications Company Profile

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Verizon Communications Inc, through its subsidiaries, offers communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. Its Consumer segment provides postpaid and prepaid service plans; internet access on notebook computers and tablets; wireless equipment, including smartphones and other handsets; and wireless-enabled internet devices, such as tablets, and other wireless-enabled connected devices comprising smart watches.