Verizon Communications Inc. (NYSE:VZ).
Gateway Investment Advisers LLC says it bought 49,468 shares in the previous quarter increasing its holdings in Verizon Communications Inc. by 2.3%. Its stake stood at $99,957,000 a decrease of $6,743,000 according to the filing.
Gateway Investment Advisers LLC isn’t the only one who has changed their investment in VZ. Pennsylvania Trust Co bolstered its position by buying 41,445 shares an increase of 11.8% from 03/31/2017 to 06/30/2017. Pennsylvania Trust Co controls 393,230 shares valued at $17,568,000. The value of the position overall is up by 2.4%. Narwhal Capital Management expanded its ownership by buying 7,317 shares an increase of 6.6% as of 06/30/2017. Narwhal Capital Management currently owns 117,657 shares worth $5,255,000. The total value of its holdings decreased 2.3%.
As of quarter end Union Bankshares Corp had bought a total of 820 shares growing its holdings by 7.1%. The value of the investment in Verizon Communications Inc. went from $565,000 to $555,000 a change of 1.8% quarter to quarter.
On October 24 the company was changed to a “Buy” in a report from Drexel Hamilton which was a boost from the previous “Hold” rating. On July 27 the stock rating was downgraded from “” to “Neutral” in a report issued by Hilliard Lyons.
On July 20 the company was downgraded to “Perform” from “Outperform” by analysts at Oppenheimer. April 18 investment analysts at Barclays kept the stock rating at “Equal-weight” and raised the price target from $51.00 to $52.00.
On April 7 the stock rating was downgraded from “Outperform” to “Market Perform” with a current price target of $55.00 in a report from Bernstein. On April 7, 2016 the stock rating was set at “Hold” by Jefferies a cut from the previous “Buy” rating.
The company is up since yesterday’s close of $42.89. Additionally the company recently announced a dividend that will be paid on Tuesday August 1st, 2017. The dividend will be $0.578 per share for the quarter or $2.31 on an annualized basis. This dividend represents a yield of $5.31. The ex-dividend date is Thursday the 6th of April 2017.
Shares are trading at $43.15 which is marginally lower than $45.84, the stock’s 50 day moving average and a tad below the 200 day moving average of $48.85. The 50 day moving average was down by -5.547% and the 200 day average was down $-5.55.
The company currently has a P/E ratio of 14.480 and the market value is 176.62B. In the latest earnings report the EPS was $2.99 and is expected to be $3.74 for the current year with 4,079,369,000 shares presently outstanding. Next quarter’s EPS is estimated at $0.96 with next year’s EPS projected to be $3.80.