Farmers Trust Co. Has $2.71 Million Holdings in Verizon Communications (VZ)

Farmers Trust Co. cut its stake in Verizon Communications (NYSE:VZ) by 2.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,207 shares of the cell phone carrier’s stock after selling 1,094 shares during the period. Farmers Trust Co.’s holdings in Verizon Communications were worth $2,710,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Exane Derivatives acquired a new position in shares of Verizon Communications during the 4th quarter worth $103,000. Legacy Advisors LLC acquired a new position in shares of Verizon Communications during the 3rd quarter worth $132,000. Shine Investment Advisory Services Inc. grew its position in Verizon Communications by 190.9% during the 3rd quarter. Shine Investment Advisory Services Inc. now owns 2,705 shares of the cell phone carrier’s stock worth $134,000 after acquiring an additional 1,775 shares during the last quarter. Mountain Capital Investment Advisors Inc bought a new stake in Verizon Communications during the 2nd quarter worth $156,000. Finally, Regal Wealth Group Inc. grew its position in Verizon Communications by 0.7% during the 2nd quarter. Regal Wealth Group Inc. now owns 3,682 shares of the cell phone carrier’s stock worth $164,000 after acquiring an additional 24 shares during the last quarter. 64.00% of the stock is owned by hedge funds and other institutional investors.

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In other Verizon Communications news, SVP Anthony T. Skiadas sold 6,967 shares of the company’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $49.80, for a total value of $346,956.60. Following the sale, the senior vice president now owns 16,059 shares in the company, valued at approximately $799,738.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.09% of the company’s stock.

A number of equities research analysts recently weighed in on VZ shares. Nomura upgraded Verizon Communications from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $47.00 to $61.00 in a research report on Tuesday, December 12th. Instinet boosted their price objective on Verizon Communications from $47.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, December 12th. HSBC lowered Verizon Communications from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $54.83 to $42.80 in a research report on Thursday, December 14th. They noted that the move was a valuation call. KeyCorp boosted their price objective on Verizon Communications from $50.00 to $53.00 and gave the stock a “sector weight” rating in a research report on Tuesday, January 2nd. Finally, Moffett Nathanson lowered Verizon Communications from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 16th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $54.31.

NYSE VZ opened at $47.82 on Monday. Verizon Communications has a 12 month low of $42.80 and a 12 month high of $54.77. The stock has a market capitalization of $197,399.23, a price-to-earnings ratio of 12.79, a P/E/G ratio of 1.94 and a beta of 0.68. The company has a debt-to-equity ratio of 2.54, a quick ratio of 0.87 and a current ratio of 0.91.

Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Tuesday, January 23rd. The cell phone carrier reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.02). Verizon Communications had a net margin of 23.88% and a return on equity of 48.97%. The company had revenue of $33.96 billion during the quarter, compared to the consensus estimate of $33.20 billion. During the same quarter last year, the firm posted $0.86 EPS. The company’s quarterly revenue was up 2.2% on a year-over-year basis. equities research analysts expect that Verizon Communications will post 4.55 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 1st. Shareholders of record on Tuesday, April 10th will be given a $0.59 dividend. The ex-dividend date of this dividend is Monday, April 9th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.94%. Verizon Communications’s dividend payout ratio (DPR) is presently 63.10%.

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Verizon Communications Company 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; multimedia, business-focused, and location-based services, as well as international travel services; and network access services to deliver various Internet of Things products and services.

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

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