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Verizon reports 20% fall in quarterly profit

21 April 2017

Dillon & Associates Inc. increased its stake in shares of Verizon Communications by 0.3% in the third quarter. (NYSE, Nasdaq: VZ) will report first-quarter 2017 earnings on Thursday, April 20.

02/21/2017 - Verizon Communications Inc. was upgraded to "buy" by analysts at MoffettNathanson.

Quarterly GAAP net income was $3,553 million or 85 cents per share compared with $4,430 million or $1.06 per share in the year-ago quarter. The company is scheduled to report its next earnings report before the market opens on Thursday, April 20th. Analysts predict that Verizon Communications will post $3.81 earnings per share for the current fiscal year. The carrier reported a 57% year-over-year growth in LTE traffic.

Institutional investors have recently bought and sold shares of the company. That's when the company launched unlimited smartphone data plans and immediately turned things around. Ruggie Capital Group now owns 2,649 shares of the cell phone carrier's stock worth $137,000 after buying an additional 9 shares in the last quarter.

The company's expected revenue in the current quarter to be 30.57 Billion, seeing a projected current quarter growth of -7.5%, and per annum growth estimates over the next 5 year period of around 1.81%. During the same quarter in the prior year, the firm earned $0.89 earnings per share.

Verizon Wireless lost 398,000 retail postpaid phone subscribers in the first six weeks of 2017.

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VZ has been the topic of several research analyst reports.

01/25/2017 - Verizon Communications Inc. had its "hold" rating reiterated by analysts at Jefferies. The stock has a consensus rating of "Hold" and a consensus price target of $54.23. Pacific Crest restated an "equal weight" rating on shares of Verizon Communications in a research report on Tuesday, January 24th. Instinet restated a "neutral" rating and set a $47.00 price target on shares of Verizon Communications in a report on Thursday, February 16th.

A stock rating usually tells investors how well a stock's market value relates to what analysts think is a fair value for the stock, based on an independent evaluation of the company.

TRADEMARK VIOLATION NOTICE: This news story was published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this piece on another website, it was illegally copied and reposted in violation of global trademark & copyright legislation. (VZ) has a trading volume of 19.66 Million shares, with an average trading volume of 10880 shares - with shares dropping to a 52 week low of $44.99, and the company's shares hitting a 52 week high of $ 54.51. The stock is now trading with a distance of 20-Day Simple Moving Average (SMA20) of 0.92%. The stock has a market cap of $197.57 billion, a PE ratio of 15.10 and a beta of 0.43.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 1st. New England Private Wealth Advisors Ltd Liability invested in 0.55% or 29,451 shares. It has a dividend yield of 4.69%. The ex-dividend date of this dividend was Friday, January 6th. Verizon Communications's dividend payout ratio (DPR) is now 71.74%. The shares were sold at an average price of $48.27, for a total value of $603,133.65. Ashfield Partners Limited Company owns 42,896 shares for 0.22% of their portfolio. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Among 5 analysts covering Vitae Pharmaceuticals (NASDAQ:VTAE), 2 have Buy rating, 0 Sell and 3 Hold. The shares were sold at an average price of $49.92, for a total transaction of $1,610,119.68.

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I like dividend stocks which haven't dropped a payment in the past 10 years, or at least don't have any significant blips.A good example of this would be Coca-Cola (NYSE:KO), Procter & Gamble (NYSE:PG), and Lowe's (NYSE:LOW) all of which have been consistently increasing their payouts to shareholders for 50 years! The disclosure for this sale can be found here. The stock now shows its YTD (Year to Date) performance of -5.7 percent while its Weekly performance value is 1.4%. Company insiders own 0.10% of the company's stock.

More About Verizon Communications Inc.

Shares of Verizon fell almost 1.5 percent on the news. Thrivent Financial for Lutherans raised its position in shares of Verizon Communications by 0.7% in the fourth quarter. The stock decreased 0.61% or $0.3 on April 13, reaching $48.62.

When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. Finally, Price T Rowe Associates Inc.

Verizon reported its first quarter earnings report today. Price T Rowe Associates Inc. Lowe fs LLC now owns 2,426 shares of the cell phone carrier's stock worth $126,000 after buying an additional 70 shares during the period.

If these wireless, TV and traditional voice losses continue, you can expect Verizon to more aggressive pursue an acquisition of a media company like Disney or CBS. The Company, through its subsidiaries, provides communications, information and entertainment services and products to consumers, businesses and governmental agencies. The Company offers voice, data and video services and solutions on its wireless and wireline networks.

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