Davidson Trust Co. Has $1.22 Million Stake in Verizon Communications Inc. (NYSE:VZ)

Davidson Trust Co. increased its position in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 95.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,785 shares of the cell phone carrier's stock after purchasing an additional 13,082 shares during the quarter. Davidson Trust Co.'s holdings in Verizon Communications were worth $1,215,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. BridgePort Financial Solutions LLC bought a new stake in Verizon Communications in the fourth quarter valued at $381,000. Meyer Handelman Co. grew its position in shares of Verizon Communications by 7.4% during the first quarter. Meyer Handelman Co. now owns 1,110,948 shares of the cell phone carrier's stock worth $50,393,000 after acquiring an additional 76,083 shares during the last quarter. Axis Wealth Partners LLC bought a new position in shares of Verizon Communications during the fourth quarter worth about $1,200,000. Rempart Asset Management Inc. grew its position in shares of Verizon Communications by 52.8% during the first quarter. Rempart Asset Management Inc. now owns 310,390 shares of the cell phone carrier's stock worth $14,079,000 after acquiring an additional 107,200 shares during the last quarter. Finally, Treasurer of the State of North Carolina grew its position in shares of Verizon Communications by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 2,075,431 shares of the cell phone carrier's stock worth $82,996,000 after acquiring an additional 20,610 shares during the last quarter. 62.06% of the stock is currently owned by institutional investors.

Verizon Communications Price Performance

NYSE:VZ traded up $0.03 during trading hours on Friday, reaching $43.62. 10,301,320 shares of the company's stock were exchanged, compared to its average volume of 20,121,261. The company has a quick ratio of 0.58, a current ratio of 0.61 and a debt-to-equity ratio of 1.19. The company has a market capitalization of $183.91 billion, a P/E ratio of 10.39, a price-to-earnings-growth ratio of 3.23 and a beta of 0.37. Verizon Communications Inc. has a 12 month low of $37.59 and a 12 month high of $47.36. The business's 50-day simple moving average is $43.19 and its two-hundred day simple moving average is $42.26.

Verizon Communications (NYSE:VZ - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The cell phone carrier reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.04. The business had revenue of $33.50 billion during the quarter, compared to analyst estimates of $33.31 billion. Verizon Communications had a return on equity of 19.66% and a net margin of 13.14%. Sell-side analysts expect that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be paid a $0.6775 dividend. The ex-dividend date is Thursday, July 10th. This represents a $2.71 dividend on an annualized basis and a yield of 6.21%. Verizon Communications's dividend payout ratio is currently 64.52%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on VZ shares. Wall Street Zen lowered shares of Verizon Communications from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 13th. Tigress Financial upped their price target on shares of Verizon Communications from $55.00 to $56.00 and gave the stock a "buy" rating in a research report on Monday, April 28th. Scotiabank upped their price target on shares of Verizon Communications from $48.50 to $49.00 and gave the stock a "sector perform" rating in a research report on Wednesday, April 23rd. Royal Bank Of Canada reissued a "sector perform" rating and set a $45.00 price target (up from $42.00) on shares of Verizon Communications in a report on Tuesday, March 25th. Finally, Evercore ISI raised Verizon Communications from an "in-line" rating to an "outperform" rating and set a $48.00 price target on the stock in a report on Friday, April 11th. Nine investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $47.25.

Insider Transactions at Verizon Communications

In other Verizon Communications news, CEO Kyle Malady sold 9,000 shares of the business's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $44.10, for a total transaction of $396,900.00. Following the sale, the chief executive officer owned 10,008 shares in the company, valued at approximately $441,352.80. The trade was a 47.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders sold 21,500 shares of company stock worth $938,400. 0.10% of the stock is currently owned by insiders.

About Verizon Communications

Verizon Communications Inc, through its subsidiaries, engages in the provision of communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. It operates in two segments, Verizon Consumer Group (Consumer) and Verizon Business Group (Business).