Home Federal Bank of Tennessee Grows Stock Position in Verizon Communications Inc. (NYSE:VZ)

Home Federal Bank of Tennessee grew its position in Verizon Communications Inc. (NYSE:VZGet Rating) by 1.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 39,005 shares of the cell phone carrier’s stock after purchasing an additional 600 shares during the period. Verizon Communications makes up 0.7% of Home Federal Bank of Tennessee’s holdings, making the stock its 26th largest position. Home Federal Bank of Tennessee’s holdings in Verizon Communications were worth $1,987,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. increased its holdings in shares of Verizon Communications by 0.3% in the fourth quarter. BlackRock Inc. now owns 290,740,891 shares of the cell phone carrier’s stock valued at $15,106,895,000 after purchasing an additional 791,443 shares during the period. State Street Corp increased its holdings in shares of Verizon Communications by 2.6% in the fourth quarter. State Street Corp now owns 170,483,451 shares of the cell phone carrier’s stock valued at $8,858,320,000 after purchasing an additional 4,312,242 shares during the period. Geode Capital Management LLC grew its holdings in Verizon Communications by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 73,174,424 shares of the cell phone carrier’s stock worth $3,792,626,000 after acquiring an additional 1,776,263 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Verizon Communications by 8.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 56,847,194 shares of the cell phone carrier’s stock worth $2,953,781,000 after acquiring an additional 4,571,857 shares during the period. Finally, Norges Bank acquired a new stake in Verizon Communications during the fourth quarter worth about $1,884,917,000. 63.78% of the stock is currently owned by institutional investors and hedge funds.

Several analysts recently commented on the company. DZ Bank lowered Verizon Communications from a “hold” rating to a “sell” rating and set a $44.00 target price on the stock. in a report on Friday, April 29th. Royal Bank of Canada dropped their target price on Verizon Communications from $57.00 to $54.00 in a report on Wednesday. StockNews.com raised Verizon Communications from a “hold” rating to a “buy” rating in a report on Thursday, May 12th. William Blair reaffirmed a “market perform” rating on shares of Verizon Communications in a report on Monday, April 25th. Finally, The Goldman Sachs Group lowered Verizon Communications from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $61.00 to $55.00 in a report on Monday, April 25th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $56.60.

Shares of VZ stock opened at $50.79 on Thursday. Verizon Communications Inc. has a fifty-two week low of $45.55 and a fifty-two week high of $56.85. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.69 and a current ratio of 0.76. The stock’s fifty day moving average is $50.12 and its two-hundred day moving average is $51.82. The firm has a market capitalization of $213.30 billion, a P/E ratio of 9.86, a PEG ratio of 2.52 and a beta of 0.41.

Verizon Communications (NYSE:VZGet Rating) last issued its earnings results on Friday, April 22nd. The cell phone carrier reported $1.35 EPS for the quarter, meeting analysts’ consensus estimates of $1.35. The business had revenue of $33.60 billion during the quarter, compared to analysts’ expectations of $33.61 billion. Verizon Communications had a net margin of 15.93% and a return on equity of 28.15%. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.31 earnings per share. On average, equities analysts forecast that Verizon Communications Inc. will post 5.4 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 1st. Shareholders of record on Friday, July 8th will be paid a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a yield of 5.04%. The ex-dividend date is Thursday, July 7th. Verizon Communications’s dividend payout ratio (DPR) is 49.71%.

In other Verizon Communications news, EVP Craig L. Silliman sold 1,558 shares of the firm’s stock in a transaction that occurred on Monday, April 4th. The shares were sold at an average price of $52.00, for a total value of $81,016.00. Following the transaction, the executive vice president now directly owns 38,077 shares of the company’s stock, valued at approximately $1,980,004. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Tami A. Erwin sold 23,647 shares of the firm’s stock in a transaction that occurred on Tuesday, April 26th. The stock was sold at an average price of $49.77, for a total transaction of $1,176,911.19. Following the completion of the transaction, the chief executive officer now directly owns 21,817 shares in the company, valued at $1,085,832.09. The disclosure for this sale can be found here. Insiders sold a total of 28,321 shares of company stock worth $1,415,192 over the last three months. Corporate insiders own 0.02% of the company’s stock.

Verizon Communications Company Profile (Get Rating)

Verizon Communications Inc, through its subsidiaries, offers communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. Its Consumer segment provides postpaid and prepaid service plans; internet access on notebook computers and tablets; wireless equipment, including smartphones and other handsets; and wireless-enabled internet devices, such as tablets, and other wireless-enabled connected devices comprising smart watches.

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

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