Tompkins Financial Corp increased its holdings in Verizon Communications Inc. (NYSE:VZ) by 0.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 96,336 shares of the cell phone carrier’s stock after purchasing an additional 857 shares during the period. Verizon Communications makes up about 1.2% of Tompkins Financial Corp’s investment portfolio, making the stock its 20th largest position. Tompkins Financial Corp’s holdings in Verizon Communications were worth $5,815,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in VZ. Centaurus Financial Inc. increased its position in Verizon Communications by 18.2% in the first quarter. Centaurus Financial Inc. now owns 1,476 shares of the cell phone carrier’s stock worth $25,000 after purchasing an additional 227 shares during the last quarter. Krane Funds Advisors LLC purchased a new stake in shares of Verizon Communications during the second quarter valued at $25,000. Global Trust Asset Management LLC boosted its stake in shares of Verizon Communications by 271.2% during the second quarter. Global Trust Asset Management LLC now owns 19,115 shares of the cell phone carrier’s stock valued at $26,000 after purchasing an additional 13,966 shares during the period. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in shares of Verizon Communications during the second quarter valued at $28,000. Finally, Shine Investment Advisory Services Inc. purchased a new stake in shares of Verizon Communications during the second quarter valued at $29,000. Institutional investors own 65.44% of the company’s stock.
In related news, EVP Craig L. Silliman sold 1,349 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $56.01, for a total value of $75,557.49. Following the completion of the sale, the executive vice president now directly owns 22,681 shares of the company’s stock, valued at $1,270,362.81. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Tami A. Erwin sold 17,000 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $57.75, for a total transaction of $981,750.00. Following the completion of the sale, the chief executive officer now directly owns 853 shares of the company’s stock, valued at $49,260.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,047 shares of company stock valued at $1,214,722. 0.03% of the stock is owned by insiders.
NYSE:VZ traded up $0.64 during mid-day trading on Friday, reaching $61.05. The company’s stock had a trading volume of 11,641,567 shares, compared to its average volume of 11,124,017. Verizon Communications Inc. has a 1 year low of $52.28 and a 1 year high of $61.58. The stock has a fifty day moving average of $59.64 and a 200-day moving average of $57.84. The firm has a market capitalization of $249.84 billion, a PE ratio of 12.96, a price-to-earnings-growth ratio of 3.03 and a beta of 0.53. The company has a quick ratio of 0.84, a current ratio of 0.87 and a debt-to-equity ratio of 2.12.
Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Thursday, August 1st. The cell phone carrier reported $1.23 earnings per share for the quarter, topping the Zacks’ 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 company had revenue of $32.07 billion during the quarter, compared to analyst estimates of $32.42 billion. During the same period in the prior year, the firm earned $1.20 earnings per share. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. On average, 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 paid 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 dividend on an annualized basis and a yield of 4.03%. Verizon Communications’s dividend payout ratio is 52.23%.
Verizon Communications Profile
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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