Verizon Communications Inc. (NYSE:VZ) Position Raised by Sfmg LLC

Sfmg LLC increased its position in shares of Verizon Communications Inc. (NYSE:VZ) by 9.0% during the 2nd quarter, Holdings Channel.com reports. The firm owned 17,640 shares of the cell phone carrier’s stock after buying an additional 1,451 shares during the quarter. Sfmg LLC’s holdings in Verizon Communications were worth $1,007,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Cascade Investment Advisors Inc. grew its position in Verizon Communications by 21.5% during the 4th quarter. Cascade Investment Advisors Inc. now owns 1,033 shares of the cell phone carrier’s stock worth $58,000 after purchasing an additional 183 shares in the last quarter. Clearwater Capital Advisors LLC grew its holdings in shares of Verizon Communications by 4.7% during the 2nd quarter. Clearwater Capital Advisors LLC now owns 4,170 shares of the cell phone carrier’s stock valued at $238,000 after acquiring an additional 187 shares in the last quarter. Capital Asset Advisory Services LLC grew its holdings in shares of Verizon Communications by 3.4% during the 2nd quarter. Capital Asset Advisory Services LLC now owns 6,121 shares of the cell phone carrier’s stock valued at $350,000 after acquiring an additional 200 shares in the last quarter. Waller Financial Planning Group Inc. grew its holdings in shares of Verizon Communications by 2.7% during the 2nd quarter. Waller Financial Planning Group Inc. now owns 7,587 shares of the cell phone carrier’s stock valued at $432,000 after acquiring an additional 200 shares in the last quarter. Finally, Ballew Advisors Inc grew its holdings in shares of Verizon Communications by 5.7% during the 2nd quarter. Ballew Advisors Inc now owns 3,730 shares of the cell phone carrier’s stock valued at $215,000 after acquiring an additional 200 shares in the last quarter. 65.99% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms have recently commented on VZ. Citigroup cut shares of Verizon Communications from a “buy” rating to a “neutral” rating and set a $62.00 price target on the stock. in a report on Monday, July 8th. Zacks Investment Research upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a report on Monday, August 5th. Finally, UBS Group cut shares of Verizon Communications from a “buy” rating to a “neutral” rating and set a $57.70 price target on the stock. in a report on Thursday, May 30th. They noted that the move was a valuation call. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $59.33.

NYSE:VZ traded down $0.18 during trading hours on Friday, reaching $56.60. The company’s stock had a trading volume of 529,475 shares, compared to its average volume of 13,495,538. The company has a market cap of $232.72 billion, a price-to-earnings ratio of 12.02, a price-to-earnings-growth ratio of 2.75 and a beta of 0.53. Verizon Communications Inc. has a one year low of $52.28 and a one year high of $61.58. The business’s 50-day moving average is $56.52 and its 200-day moving average is $57.11. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.87 and a quick ratio of 0.84.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Thursday, August 1st. The cell phone carrier reported $1.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.03. The firm had revenue of $32.07 billion during the quarter, compared to analysts’ expectations of $32.42 billion. Verizon Communications had a net margin of 12.08% and a return on equity of 34.91%. Verizon Communications’s revenue for the quarter was down .4% on a year-over-year basis. During the same period in the prior year, the company posted $1.20 earnings per share. On average, sell-side analysts predict that Verizon Communications Inc. will post 4.8 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were issued a $0.6025 dividend. This represents a $2.41 dividend on an annualized basis and a yield of 4.26%. The ex-dividend date of this dividend was Tuesday, July 9th. Verizon Communications’s dividend payout ratio is presently 51.17%.

In related news, EVP Craig L. Silliman sold 1,349 shares of the company’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $58.15, for a total value of $78,444.35. Following the completion of the sale, the executive vice president now directly owns 25,379 shares in the company, valued at $1,475,788.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 4,047 shares of company stock valued at $234,591 over the last quarter. 0.03% of the stock is currently owned by corporate insiders.

Verizon Communications 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; international travel wireless services; and network access services to deliver various Internet of Things products and services, as well as offers digital advertising and digital media services platforms.

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

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