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

First National Bank of Mount Dora Trust Investment Services boosted its position in Verizon Communications Inc. (NYSE:VZ) by 17.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 92,753 shares of the cell phone carrier’s stock after buying an additional 13,815 shares during the period. Verizon Communications makes up about 2.6% of First National Bank of Mount Dora Trust Investment Services’ holdings, making the stock its 8th biggest position. First National Bank of Mount Dora Trust Investment Services’ holdings in Verizon Communications were worth $5,598,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Mn Services Vermogensbeheer B.V. boosted its position in shares of Verizon Communications by 241.6% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 2,264,611 shares of the cell phone carrier’s stock worth $111,373,000 after purchasing an additional 1,601,715 shares in the last quarter. Paradigm Financial Partners LLC purchased a new stake in shares of Verizon Communications during the 4th quarter worth $2,972,000. Freestone Capital Holdings LLC boosted its position in shares of Verizon Communications by 1.4% during the 4th quarter. Freestone Capital Holdings LLC now owns 128,335 shares of the cell phone carrier’s stock worth $7,215,000 after purchasing an additional 1,730 shares in the last quarter. Accident Compensation Corp boosted its position in shares of Verizon Communications by 15.3% during the 4th quarter. Accident Compensation Corp now owns 76,994 shares of the cell phone carrier’s stock worth $4,329,000 after purchasing an additional 10,200 shares in the last quarter. Finally, Riverview Trust Co purchased a new stake in shares of Verizon Communications during the 4th quarter worth $452,000. Hedge funds and other institutional investors own 65.42% of the company’s stock.

In related news, CEO Tami A. Erwin sold 17,000 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $57.75, for a total value of $981,750.00. Following the completion of the transaction, the chief executive officer now owns 853 shares of the company’s stock, valued at approximately $49,260.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Craig L. Silliman sold 1,349 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $56.55, for a total transaction of $76,285.95. Following the completion of the transaction, the executive vice president now directly owns 24,030 shares of the company’s stock, valued at approximately $1,358,896.50. The disclosure for this sale can be found here. Insiders sold a total of 21,047 shares of company stock worth $1,214,722 over the last quarter. Insiders own 0.03% of the company’s stock.



VZ has been the topic of several research analyst reports. ValuEngine lowered shares of Verizon Communications from a “hold” rating to a “sell” rating in a research report on Friday, October 4th. Oppenheimer upgraded shares of Verizon Communications from a “market perform” rating to an “outperform” rating and set a $70.00 target price on the stock in a research report on Tuesday, August 27th. Zacks Investment Research upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $62.00 target price on the stock in a research report on Monday, September 2nd. Nomura set a $65.00 target price on shares of Verizon Communications and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Finally, Citigroup set a $62.00 target price on shares of Verizon Communications and gave the stock a “hold” rating in a research report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $61.30.

Shares of Verizon Communications stock traded down $0.05 on Wednesday, hitting $59.05. The company’s stock had a trading volume of 1,626,457 shares, compared to its average volume of 13,418,092. Verizon Communications Inc. has a 52-week low of $52.28 and a 52-week high of $61.58. 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 firm has a fifty day moving average price of $58.95 and a 200-day moving average price of $57.82. The company has a market capitalization of $244.44 billion, a P/E ratio of 12.54, a price-to-earnings-growth ratio of 2.99 and a beta of 0.53.

Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Thursday, August 1st. The cell phone carrier reported $1.23 EPS for the quarter, topping the consensus estimate of $1.20 by $0.03. Verizon Communications had a net margin of 12.08% and a return on equity of 34.91%. The business had revenue of $32.07 billion for the quarter, compared to analyst estimates of $32.42 billion. During the same period in the previous year, the firm earned $1.20 EPS. The business’s revenue for the quarter was down .4% compared to the same quarter last year. As a group, analysts expect that Verizon Communications Inc. will post 4.81 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be given a $0.615 dividend. The ex-dividend date of this dividend is Wednesday, October 9th. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.60. This represents a $2.46 annualized dividend and a dividend yield of 4.17%. 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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