Teamwork Financial Advisors LLC boosted its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 33.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 29,402 shares of the cell phone carrier’s stock after purchasing an additional 7,365 shares during the quarter. Teamwork Financial Advisors LLC’s holdings in Verizon Communications were worth $1,621,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Community Financial Services Group LLC increased its holdings in shares of Verizon Communications by 5.3% in the 1st quarter. Community Financial Services Group LLC now owns 122,402 shares of the cell phone carrier’s stock valued at $6,577,000 after acquiring an additional 6,160 shares during the last quarter. Financial Enhancement Group LLC boosted its position in Verizon Communications by 8.0% during the 1st quarter. Financial Enhancement Group LLC now owns 174,244 shares of the cell phone carrier’s stock worth $9,362,000 after acquiring an additional 12,850 shares during the period. Verus Financial Partners Inc. boosted its position in Verizon Communications by 4.6% during the 1st quarter. Verus Financial Partners Inc. now owns 6,644 shares of the cell phone carrier’s stock worth $357,000 after acquiring an additional 293 shares during the period. Syntal Capital Partners LLC boosted its position in Verizon Communications by 31.7% during the 1st quarter. Syntal Capital Partners LLC now owns 23,610 shares of the cell phone carrier’s stock worth $1,268,000 after acquiring an additional 5,681 shares during the period. Finally, Allred Capital Management LLC boosted its position in Verizon Communications by 1.9% during the 1st quarter. Allred Capital Management LLC now owns 32,375 shares of the cell phone carrier’s stock worth $1,740,000 after acquiring an additional 606 shares during the period. Institutional investors own 65.23% of the company’s stock.
Shares of Verizon Communications stock opened at $54.45 on Tuesday. The firm’s 50 day moving average price is $55.70 and its 200-day moving average price is $56.92. The company has a market cap of $225.48 billion, a P/E ratio of 12.29, a PEG ratio of 3.84 and a beta of 0.45. The company has a quick ratio of 0.95, a current ratio of 0.99 and a debt-to-equity ratio of 2.02. Verizon Communications Inc. has a 52-week low of $48.84 and a 52-week high of $62.22.
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Friday, July 10th will be issued a dividend of $0.615 per share. This represents a $2.46 dividend on an annualized basis and a dividend yield of 4.52%. The ex-dividend date of this dividend is Thursday, July 9th. Verizon Communications’s payout ratio is 51.14%.
Several analysts have recently weighed in on VZ shares. JPMorgan Chase & Co. cut their price objective on Verizon Communications from $63.00 to $62.00 and set a “neutral” rating for the company in a report on Friday, April 17th. ValuEngine lowered Verizon Communications from a “hold” rating to a “sell” rating in a research report on Friday, May 1st. SunTrust Banks boosted their target price on Verizon Communications from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Barclays reaffirmed a “hold” rating and set a $54.00 target price on shares of Verizon Communications in a research report on Friday, April 17th. Finally, Nomura reaffirmed a “hold” rating and set a $61.00 target price on shares of Verizon Communications in a research report on Sunday, April 26th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $61.63.
In other news, SVP Anthony T. Skiadas sold 10,744 shares of the company’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $57.10, for a total transaction of $613,482.40. Following the completion of the sale, the senior vice president now owns 27,501 shares of the company’s stock, valued at $1,570,307.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.07% of the stock is owned by corporate insiders.
Verizon Communications Company 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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