St. Johns Investment Management Company LLC acquired 617 shares of Verizon Communications Inc. (NYSE:VZ)


St. Johns Investment Management Company LLC boosted its holdings in Verizon Communications Inc. (NYSE: VZ – Get Rating ) by 4.6% during the first quarter, Holdings Channel reports. The fund owned 14,125 shares of the cell phone carrier’s stock after purchasing an additional 617 shares during the quarter. The holdings of St. Johns Investment Management Company LLC’s holdings in Verizon Communications were worth $720,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Rinkey Investments acquired a new position in shares of Verizon Communications in the fourth quarter worth about $27,000. Econ Financial Services Corp acquired a new position in shares of Verizon Communications in the fourth quarter worth about $32,000. Gibson Wealth Advisors LLC acquired a new position in shares of Verizon Communications during the fourth quarter worth about $37,000. Morton Brown Family Wealth LLC increased its position in shares of Verizon Communications by 109.2% in the first quarter. Morton Brown Family Wealth LLC now owns 726 shares of the cell phone carrier’s stock valued at $37,000 after buying an additional 379 shares during the period. Finally, Rather & Kittrell Inc. acquired a new position in shares of Verizon Communications in the fourth quarter valued at about $43,000. The institutional investor owns 63.78% of the company’s stock.

In other Verizon Communications news, EVP Craig L. Silliman sold 1,558 shares of the firm’s stock in a transaction on Monday, May 23rd. The shares were sold at an average price of $50.00, for a total transaction of $77,900.00. Following the transaction, the executive vice president now owns 36,519 shares in the company, valued at approximately $1,825,950. The transaction was disclosed in a filing with the SEC, which is available via this hyperlink. Also, CEO Tammy A. Erwin sold 23,647 shares of the firm’s stock in a transaction on Tuesday, April 26th. The shares were sold at an average price of $49.77 for a total value of $1,176,911.19. Following the transaction, the chief executive officer now owns 21,817 shares in the company, valued at approximately $1,085,832.09. Disclosure of this sale can be found here. Over the last ninety days, insiders have sold 28,321 shares of company stock worth $1,415,192. Insiders own 0.02% of the company’s stock.

VZ opened at $51.64 on Friday. Verizon Communications Inc. has a 12-month low of $45.55 and a 12-month high of $56.85. The stock has a market cap of $216.87 billion, a price-to-earnings ratio of 10.03, a PEG ratio of 2.63 and a beta of 0.41. The business has a 50-day moving average of $49.75 and a 200-day moving average of $51.86. The company has a quick ratio of 0.69, a current ratio of 0.76 and a debt-to-equity ratio of 1.64.

Verizon Communications (NYSE:VZ – Get Rating ) last posted its quarterly earnings data on Friday, April 22nd. The mobile phone carrier reported $1.35 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.35. Verizon Communications had a return on equity of 28.15% and a net margin of 15.93%. The company had revenue of $33.60 billion during the quarter, compared to analysts’ expectations of $33.61 billion. During the same period last year, the firm posted earnings of $1.31 per share. Business revenues increased by 2.2% year-on-year. As a group, analysts expect Verizon Communications Inc. to report 5.39 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 1st. Stockholders of record on Friday, July 8th will be given a $0.64 dividend. The ex-dividend date is Thursday, July 7th. This represents an annualized dividend of $2.56 and a dividend yield of 4.96%. Verizon Communications’ payout ratio is 49.71%.

VZ has been the subject of several recent research reports. Goldman Sachs Group downgraded Verizon Communications from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $61.00 to $55.00 in a research report on Monday, April 25th. William Blair reissued a “market perform” rating on shares of Verizon Communications in a research report on Monday, April 25th. Wolfe Research reduced their price objective on Verizon Communications from $60.00 to $51.00 and set an “outperform” rating for the company in a research report on Thursday, June 2nd. Credit Suisse Group cut their target price on Verizon Communications from $58.00 to $54.00 and set a “neutral” rating for the company in a research report on Tuesday, June 21st. Finally, Royal Bank of Canada reduced their target price on Verizon Communications from $57.00 to $54.00 and set a “sector perform” rating for the company in a research report on Wednesday, June 22nd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $57.14, according to MarketBeat.com.

About Verizon Communications (Get Rating)

Verizon Communications Inc, through its subsidiaries, provides communications, technology, information and entertainment products and services to consumers, businesses and government organizations worldwide. Its consumer segment provides subscription and prepaid service plans; access to the Internet on laptops and tablets; wireless equipment, including smartphones and other telephones; and wirelessly enabled Internet devices, such as tablets and other wirelessly enabled connected devices, including smartwatches.

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



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