Verizon Communications Inc. (NYSE:VZ).
Gateway Investment Advisers LLC reports that it increased its stake in Verizon Communications Inc. stock by 2.3% as of the end of the last quarter. Its position stood at $99,957,000 a decrease of $6,743,000 as of the end of the quarter.
Gateway Investment Advisers LLC isn’t the only one who has changed their investment in VZ. As of quarter end Pennsylvania Trust Co had bought a total of 41,445 shares growing its holdings by 11.8%. The value of the investment in Verizon Communications Inc. went from $17,150,000 to $17,568,000 a change of $418,000 for the reporting period. Narwhal Capital Management expanded its ownership by buying 7,317 shares an increase of 6.6% from 03/31/2017 to 06/30/2017. Narwhal Capital Management claims 117,657 shares worth $5,255,000. The value of the position overall is down by 2.3%.
As of the end of the quarter Union Bankshares Corp had acquired 820 shares growing its stake by 7.1%. The value of the company’s investment in Verizon Communications Inc. decreased from $565,000 to $555,000 decreasing 1.8% quarter over quarter.
On October 24 the company was set at “Buy” in a report from Drexel Hamilton which was a boost from the previous “Hold” rating. On July 27 the stock rating was downgraded to “Neutral” from “” in an announcement from Hilliard Lyons.
On July 20, 2016 the stock rating was rated “Perform” according to a Oppenheimer report down from the previous “Outperform” rating. On April 18 Barclays maintained a company rating of “Equal-weight” and moved up the price target from $51.00 to $52.00.
On April 7 the company was downgraded from “Outperform” to “Market Perform” and a price target of $55.00 was set by analysts at Bernstein. On April 7 the company was changed to a “Hold” by Jefferies a cut from the previous “Buy” rating.
The company is so far trading up from yesterday’s close of $42.89. Additionally the company declared a dividend that will be paid on Tuesday the 1st of August 2017. The dividend payment will be $0.578 per share for the quarter which is $2.31 annualized. The dividend yield will be $5.31. The ex-dividend date will be on Thursday April 6th, 2017.
Shares of the company are trading at $43.15 just a bit lower than $45.84, the 50 day moving average and a tad under the 200 day moving average of $48.85. The 50 day moving average moved down $-2.54 and the 200 day average was down $-5.55.
The P/E ratio is 14.480 and the market cap is 176.62B. In the last earnings report the EPS was $2.99 and is estimated to be $3.74 for the current year with 4,079,369,000 shares currently outstanding. Next quarter’s EPS is expected be $0.96 with next year’s EPS projected to be $3.80.