Verizon Communications Inc. (NYSE:VZ) Shares Bought by Narwhal Capital Management

Narwhal Capital Management grew its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 26.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 137,402 shares of the cell phone carrier’s stock after purchasing an additional 28,350 shares during the period. Verizon Communications accounts for 1.6% of Narwhal Capital Management’s portfolio, making the stock its 18th biggest position. Narwhal Capital Management’s holdings in Verizon Communications were worth $7,383,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Grandfield & Dodd LLC increased its holdings in shares of Verizon Communications by 2.5% in the 4th quarter. Grandfield & Dodd LLC now owns 6,934 shares of the cell phone carrier’s stock worth $426,000 after acquiring an additional 168 shares during the period. Rikoon Group LLC increased its holdings in shares of Verizon Communications by 0.6% in the 4th quarter. Rikoon Group LLC now owns 31,603 shares of the cell phone carrier’s stock worth $1,940,000 after acquiring an additional 173 shares during the period. CFO4Life Group LLC increased its holdings in shares of Verizon Communications by 2.3% in the 4th quarter. CFO4Life Group LLC now owns 7,655 shares of the cell phone carrier’s stock worth $470,000 after acquiring an additional 173 shares during the period. Comprehensive Portfolio Management LLC increased its holdings in shares of Verizon Communications by 2.1% in the 4th quarter. Comprehensive Portfolio Management LLC now owns 8,361 shares of the cell phone carrier’s stock worth $513,000 after acquiring an additional 174 shares during the period. Finally, NorthCoast Asset Management LLC increased its holdings in shares of Verizon Communications by 2.3% in the 4th quarter. NorthCoast Asset Management LLC now owns 7,717 shares of the cell phone carrier’s stock worth $474,000 after acquiring an additional 174 shares during the period. 66.77% of the stock is currently owned by institutional investors.

Shares of VZ opened at $56.24 on Tuesday. The company has a 50-day moving average of $55.58 and a two-hundred day moving average of $58.53. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.99 and a quick ratio of 0.95. The stock has a market cap of $232.49 billion, a price-to-earnings ratio of 12.70, a PEG ratio of 3.81 and a beta of 0.48. Verizon Communications Inc. has a one year low of $48.84 and a one year high of $62.22.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Friday, April 24th. The cell phone carrier reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.04. The business had revenue of $31.81 billion during the quarter, compared to analyst estimates of $32.37 billion. Verizon Communications had a net margin of 14.00% and a return on equity of 33.26%. The firm’s revenue was down 1.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.20 earnings per share. Analysts anticipate that Verizon Communications Inc. will post 4.77 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, May 1st. Stockholders of record on Monday, April 13th were given a $0.615 dividend. This represents a $2.46 dividend on an annualized basis and a dividend yield of 4.37%. The ex-dividend date of this dividend was Thursday, April 9th. Verizon Communications’s dividend payout ratio (DPR) is 51.14%.

Verizon Communications announced that its board has initiated a share repurchase program on Thursday, February 6th that authorizes the company to repurchase 100,000,000 shares. This repurchase authorization authorizes the cell phone carrier to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

VZ has been the topic of a number of analyst reports. Morgan Stanley dropped their price objective on shares of Verizon Communications from $61.00 to $60.00 and set an “equal weight” rating on the stock in a report on Friday, April 17th. Goldman Sachs Group raised shares of Verizon Communications from a “buy” rating to a “conviction-buy” rating in a report on Wednesday, April 1st. Tigress Financial reaffirmed a “hold” rating on shares of Verizon Communications in a report on Thursday, January 23rd. Oppenheimer started coverage on shares of Verizon Communications in a research report on Friday, April 24th. They issued a “buy” rating and a $70.00 target price for the company. Finally, SunTrust Banks increased their target price on shares of Verizon Communications from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Verizon Communications has a consensus rating of “Hold” and a consensus price target of $61.44.

About Verizon Communications

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.

Further Reading: Options Trading

Want to see what other hedge funds are holding VZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Verizon Communications Inc. (NYSE:VZ).

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

Receive News & Ratings for Verizon Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verizon Communications and related companies with MarketBeat.com's FREE daily email newsletter.