Stumpf Capital Management LLC Invests $1.75 Million in Verizon Communications (VZ)

Stumpf Capital Management LLC purchased a new stake in Verizon Communications (NYSE:VZ) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 33,000 shares of the cell phone carrier’s stock, valued at approximately $1,747,000. Verizon Communications accounts for 1.6% of Stumpf Capital Management LLC’s investment portfolio, making the stock its 3rd biggest position.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in VZ. Caxton Associates LP acquired a new stake in shares of Verizon Communications in the second quarter valued at about $607,000. E&G Advisors LP increased its position in shares of Verizon Communications by 18.2% in the third quarter. E&G Advisors LP now owns 24,735 shares of the cell phone carrier’s stock valued at $1,224,000 after acquiring an additional 3,803 shares during the last quarter. Cutler Investment Counsel LLC increased its position in Verizon Communications by 1.4% during the second quarter. Cutler Investment Counsel LLC now owns 154,181 shares of the cell phone carrier’s stock worth $6,886,000 after buying an additional 2,121 shares during the last quarter. Stokes & Hubbell Capital Management LLC increased its position in Verizon Communications by 32.2% during the third quarter. Stokes & Hubbell Capital Management LLC now owns 84,508 shares of the cell phone carrier’s stock worth $4,182,000 after buying an additional 20,561 shares during the last quarter. Finally, KBC Group NV increased its position in Verizon Communications by 3.4% during the third quarter. KBC Group NV now owns 744,116 shares of the cell phone carrier’s stock worth $36,826,000 after buying an additional 24,460 shares during the last quarter. 64.00% of the stock is currently owned by hedge funds and other institutional investors.

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Shares of NYSE:VZ opened at $47.82 on Friday. Verizon Communications has a 12-month low of $42.80 and a 12-month high of $54.77. The company has a market cap of $197,399.23, a PE ratio of 12.79, a PEG ratio of 1.94 and a beta of 0.68. The company has a debt-to-equity ratio of 2.54, a current ratio of 0.91 and a quick ratio of 0.87.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Tuesday, January 23rd. The cell phone carrier reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.02). Verizon Communications had a return on equity of 48.97% and a net margin of 23.88%. The firm had revenue of $33.96 billion for the quarter, compared to the consensus estimate of $33.20 billion. During the same quarter in the prior year, the firm earned $0.86 EPS. The company’s revenue was up 2.2% on a year-over-year basis. sell-side analysts predict that Verizon Communications will post 4.55 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 1st. Investors of record on Tuesday, April 10th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 4.94%. The ex-dividend date is Monday, April 9th. Verizon Communications’s dividend payout ratio (DPR) is currently 63.10%.

A number of brokerages have weighed in on VZ. Bank of America boosted their price target on Verizon Communications from $55.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. HSBC downgraded Verizon Communications from a “buy” rating to a “hold” rating and lowered their price target for the stock from $54.83 to $42.80 in a research report on Thursday, December 14th. They noted that the move was a valuation call. Vetr raised Verizon Communications from a “hold” rating to a “buy” rating and set a $54.80 price target on the stock in a research report on Monday, February 5th. Howard Weil raised Verizon Communications from a “sector perform” rating to a “sector outperform” rating in a research report on Monday, January 22nd. Finally, Guggenheim began coverage on Verizon Communications in a research report on Tuesday, March 13th. They set a “buy” rating and a $58.00 price target on the stock. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $54.31.

In related news, SVP Anthony T. Skiadas sold 6,967 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $49.80, for a total value of $346,956.60. Following the completion of the sale, the senior vice president now directly owns 16,059 shares in the company, valued at $799,738.20. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.09% of the company’s stock.

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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; multimedia, business-focused, and location-based services, as well as international travel services; and network access services to deliver various Internet of Things products and services.

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

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