Black Diamond Financial LLC cut its holdings in Verizon Communications Inc. (NYSE:VZ) by 19.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,010 shares of the cell phone carrier’s stock after selling 1,423 shares during the quarter. Black Diamond Financial LLC’s holdings in Verizon Communications were worth $331,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Winslow Evans & Crocker Inc. grew its holdings in Verizon Communications by 5.0% during the 2nd quarter. Winslow Evans & Crocker Inc. now owns 63,285 shares of the cell phone carrier’s stock worth $3,488,000 after acquiring an additional 3,011 shares in the last quarter. Community Financial Services Group LLC raised its stake in Verizon Communications by 5.3% during the first quarter. Community Financial Services Group LLC now owns 122,402 shares of the cell phone carrier’s stock valued at $6,577,000 after buying an additional 6,160 shares during the last quarter. Financial Enhancement Group LLC raised its stake in Verizon Communications by 8.0% during the first quarter. Financial Enhancement Group LLC now owns 174,244 shares of the cell phone carrier’s stock valued at $9,362,000 after buying an additional 12,850 shares during the last quarter. Verus Financial Partners Inc. raised its stake in Verizon Communications by 4.6% during the first quarter. Verus Financial Partners Inc. now owns 6,644 shares of the cell phone carrier’s stock valued at $357,000 after buying an additional 293 shares during the last quarter. Finally, Syntal Capital Partners LLC raised its stake in shares of Verizon Communications by 31.7% in the first quarter. Syntal Capital Partners LLC now owns 23,610 shares of the cell phone carrier’s stock worth $1,268,000 after purchasing an additional 5,681 shares during the last quarter. Institutional investors and hedge funds own 65.23% of the company’s stock.
Several research firms have recently weighed in on VZ. SunTrust Banks boosted their price target on Verizon Communications from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Nomura restated a “hold” rating and issued a $61.00 price target on shares of Verizon Communications in a research note on Sunday, April 26th. Oppenheimer restated a “buy” rating and issued a $70.00 price target on shares of Verizon Communications in a research note on Monday, July 27th. Credit Suisse Group restated a “hold” rating and issued a $61.00 price target on shares of Verizon Communications in a research note on Thursday, July 2nd. Finally, ValuEngine cut Verizon Communications from a “hold” rating to a “sell” rating in a research note on Friday, May 1st. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $62.00.
NYSE VZ opened at $57.48 on Friday. The firm has a market cap of $237.11 billion, a price-to-earnings ratio of 11.89, a price-to-earnings-growth ratio of 3.52 and a beta of 0.45. The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 1.94. The business has a 50-day moving average price of $55.64 and a 200-day moving average price of $56.51. Verizon Communications Inc. has a twelve month low of $48.84 and a twelve month high of $62.22.
Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Friday, July 24th. The cell phone carrier reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.03. The firm had revenue of $30.40 billion during the quarter, compared to analyst estimates of $29.98 billion. Verizon Communications had a return on equity of 32.15% and a net margin of 14.76%. The business’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.23 earnings per share. Research analysts expect that Verizon Communications Inc. will post 4.78 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Friday, July 10th will be paid a $0.615 dividend. This represents a $2.46 dividend on an annualized basis and a dividend yield of 4.28%. The ex-dividend date is Thursday, July 9th. Verizon Communications’s dividend payout ratio (DPR) is 51.14%.
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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