Capital City Trust Co. FL Grows Stake in Verizon Communications Inc. (NYSE:VZ)

Capital City Trust Co. FL boosted its holdings in Verizon Communications Inc. (NYSE:VZ) by 0.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 60,631 shares of the cell phone carrier’s stock after buying an additional 373 shares during the period. Verizon Communications accounts for approximately 1.5% of Capital City Trust Co. FL’s holdings, making the stock its 18th largest holding. Capital City Trust Co. FL’s holdings in Verizon Communications were worth $3,408,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. United Bank raised its stake in shares of Verizon Communications by 8.9% in the second quarter. United Bank now owns 42,051 shares of the cell phone carrier’s stock valued at $2,116,000 after acquiring an additional 3,441 shares during the period. Schroder Investment Management Group grew its holdings in shares of Verizon Communications by 10.2% in the second quarter. Schroder Investment Management Group now owns 4,336,686 shares of the cell phone carrier’s stock worth $220,557,000 after purchasing an additional 402,179 shares during the last quarter. Laurel Wealth Advisors Inc. grew its holdings in Verizon Communications by 1.8% during the 2nd quarter. Laurel Wealth Advisors Inc. now owns 90,881 shares of the cell phone carrier’s stock worth $4,572,000 after acquiring an additional 1,643 shares in the last quarter. City Holding Co. grew its holdings in Verizon Communications by 1.6% during the 2nd quarter. City Holding Co. now owns 75,998 shares of the cell phone carrier’s stock worth $3,823,000 after acquiring an additional 1,165 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its holdings in Verizon Communications by 2.6% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 169,573 shares of the cell phone carrier’s stock worth $8,531,000 after acquiring an additional 4,362 shares in the last quarter. 66.90% of the stock is currently owned by hedge funds and other institutional investors.

Shares of VZ opened at $58.71 on Tuesday. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.88 and a current ratio of 0.91. The firm has a market cap of $242.29 billion, a price-to-earnings ratio of 12.46, a price-to-earnings-growth ratio of 2.62 and a beta of 0.51. Verizon Communications Inc. has a 52-week low of $46.08 and a 52-week high of $61.58.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings results on Tuesday, January 29th. The cell phone carrier reported $1.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.09 by $0.03. The firm had revenue of $34.28 billion during the quarter, compared to the consensus estimate of $34.45 billion. Verizon Communications had a return on equity of 35.96% and a net margin of 11.87%. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.86 earnings per share. As a group, analysts forecast that Verizon Communications Inc. will post 4.66 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be issued a $0.6025 dividend. This represents a $2.41 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date of this dividend is Tuesday, April 9th. Verizon Communications’s dividend payout ratio (DPR) is 51.17%.

A number of analysts have recently weighed in on VZ shares. Zacks Investment Research upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a report on Saturday, January 26th. ValuEngine raised shares of Verizon Communications from a “hold” rating to a “buy” rating in a research note on Friday, December 21st. Finally, Tigress Financial reissued a “hold” rating on shares of Verizon Communications in a research note on Friday, December 28th. Nine research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $56.07.

In other Verizon Communications news, Director Lowell C. Mcadam sold 285,988 shares of the business’s stock in a transaction that occurred on Tuesday, February 26th. The stock was sold at an average price of $56.72, for a total value of $16,221,239.36. Following the completion of the sale, the director now owns 362,932 shares in the company, valued at $20,585,503.04. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Craig L. Silliman sold 1,349 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $60.30, for a total value of $81,344.70. Following the completion of the sale, the executive vice president now owns 29,426 shares of the company’s stock, valued at approximately $1,774,387.80. The disclosure for this sale can be found here. Insiders sold 288,686 shares of company stock valued at $16,379,639 over the last ninety days. 0.03% of the stock is currently owned by corporate insiders.

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

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