Capital City Trust Co. FL Boosts Holdings in Verizon Communications Inc. (NYSE:VZ)

Capital City Trust Co. FL lifted its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 1.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,021 shares of the cell phone carrier’s stock after acquiring an additional 854 shares during the period. Verizon Communications accounts for about 1.2% of Capital City Trust Co. FL’s investment portfolio, making the stock its 28th largest position. Capital City Trust Co. FL’s holdings in Verizon Communications were worth $3,781,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of VZ. Klaas Financial Asset Advisors LLC purchased a new position in shares of Verizon Communications in the 4th quarter worth $26,000. New Capital Management LP lifted its stake in shares of Verizon Communications by 60.3% in the 4th quarter. New Capital Management LP now owns 481 shares of the cell phone carrier’s stock valued at $28,000 after purchasing an additional 181 shares in the last quarter. Brand Asset Management Group Inc. lifted its stake in shares of Verizon Communications by 151.4% in the 1st quarter. Brand Asset Management Group Inc. now owns 543 shares of the cell phone carrier’s stock valued at $32,000 after purchasing an additional 327 shares in the last quarter. Capital Directions Investment Advisors LLC grew its holdings in shares of Verizon Communications by 100.0% during the 4th quarter. Capital Directions Investment Advisors LLC now owns 600 shares of the cell phone carrier’s stock worth $36,000 after purchasing an additional 300 shares during the period. Finally, Curi Capital acquired a new stake in Verizon Communications during the 4th quarter worth approximately $40,000. 64.85% of the stock is currently owned by institutional investors.

Several research firms have recently issued reports on VZ. Credit Suisse Group dropped their price objective on shares of Verizon Communications from $61.00 to $59.00 and set a “neutral” rating for the company in a research report on Tuesday, January 19th. Oppenheimer reissued a “market perform” rating on shares of Verizon Communications in a research report on Wednesday, March 3rd. Scotiabank lowered Verizon Communications from an “outperform” rating to a “sector perform” rating in a research note on Thursday, February 25th. Bank of America restated a “buy” rating and set a $64.00 target price on shares of Verizon Communications in a research note on Thursday, March 11th. Finally, Moffett Nathanson restated a “neutral” rating on shares of Verizon Communications in a research note on Monday, May 3rd. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $62.50.

In other Verizon Communications news, EVP Craig L. Silliman sold 1,555 shares of Verizon Communications stock in a transaction dated Monday, April 5th. The stock was sold at an average price of $58.53, for a total transaction of $91,014.15. Following the transaction, the executive vice president now owns 36,242 shares of the company’s stock, valued at approximately $2,121,244.26. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Kumara Guru Gowrappan sold 43,238 shares of the company’s stock in a transaction dated Monday, May 10th. The shares were sold at an average price of $59.42, for a total value of $2,569,201.96. Following the completion of the transaction, the chief executive officer now owns 14,077 shares in the company, valued at approximately $836,455.34. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 82,903 shares of company stock worth $4,875,933. Corporate insiders own 0.07% of the company’s stock.

Shares of NYSE VZ opened at $57.98 on Tuesday. The business has a fifty day simple moving average of $58.12 and a 200-day simple moving average of $57.91. The company has a market cap of $240.04 billion, a price-to-earnings ratio of 12.57, a P/E/G ratio of 3.54 and a beta of 0.44. Verizon Communications Inc. has a 12 month low of $52.85 and a 12 month high of $61.95. The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 1.66.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Tuesday, April 20th. The cell phone carrier reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.02. The company had revenue of $32.87 billion during the quarter, compared to analyst estimates of $32.47 billion. Verizon Communications had a net margin of 14.76% and a return on equity of 32.15%. The business’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.26 earnings per share. As a group, sell-side analysts expect that Verizon Communications Inc. will post 4.77 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 3rd. Investors of record on Friday, April 9th were paid a $0.6275 dividend. This represents a $2.51 dividend on an annualized basis and a yield of 4.33%. The ex-dividend date was Thursday, April 8th. Verizon Communications’s dividend payout ratio is 52.18%.

Verizon Communications Company Profile

Verizon Communications Inc 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, such as smart watches.

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

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