Zeke Capital Advisors LLC Has $5.50 Million Stake in Verizon Communications Inc. (VZ)

Zeke Capital Advisors LLC trimmed its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 7.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 109,277 shares of the cell phone carrier’s stock after selling 8,642 shares during the period. Zeke Capital Advisors LLC’s holdings in Verizon Communications were worth $5,498,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. NewSquare Capital LLC lifted its stake in Verizon Communications by 17.4% in the 2nd quarter. NewSquare Capital LLC now owns 38,279 shares of the cell phone carrier’s stock worth $1,938,000 after acquiring an additional 5,664 shares in the last quarter. Greystone Managed Investments Inc. lifted its stake in Verizon Communications by 14.9% in the 2nd quarter. Greystone Managed Investments Inc. now owns 267,175 shares of the cell phone carrier’s stock worth $13,442,000 after acquiring an additional 34,660 shares in the last quarter. Perpetual Ltd lifted its stake in Verizon Communications by 17.2% in the 2nd quarter. Perpetual Ltd now owns 530,711 shares of the cell phone carrier’s stock worth $26,747,000 after acquiring an additional 77,876 shares in the last quarter. Reinhart Partners Inc. purchased a new stake in Verizon Communications in the 2nd quarter worth about $444,000. Finally, Graybill Bartz & Assoc Ltd. lifted its stake in Verizon Communications by 3.0% in the 2nd quarter. Graybill Bartz & Assoc Ltd. now owns 78,707 shares of the cell phone carrier’s stock worth $3,960,000 after acquiring an additional 2,276 shares in the last quarter. 64.22% of the stock is owned by institutional investors and hedge funds.

Shares of VZ stock opened at $54.55 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.92 and a debt-to-equity ratio of 2.04. Verizon Communications Inc. has a fifty-two week low of $43.97 and a fifty-two week high of $55.42. The stock has a market capitalization of $226.91 billion, a price-to-earnings ratio of 14.59, a PEG ratio of 1.99 and a beta of 0.69.

Verizon Communications (NYSE:VZ) last issued its earnings results on Tuesday, July 24th. The cell phone carrier reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.06. Verizon Communications had a return on equity of 38.62% and a net margin of 23.88%. The company had revenue of $32.20 billion for the quarter, compared to analyst estimates of $31.78 billion. During the same period in the prior year, the firm posted $0.96 EPS. The business’s revenue was up 5.4% compared to the same quarter last year. equities research analysts expect that Verizon Communications Inc. will post 4.66 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 1st. Shareholders of record on Wednesday, October 10th will be given a $0.6025 dividend. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.59. This represents a $2.41 annualized dividend and a yield of 4.42%. The ex-dividend date of this dividend is Tuesday, October 9th. Verizon Communications’s dividend payout ratio is presently 63.10%.

Several equities research analysts recently issued reports on the company. Moffett Nathanson reissued a “neutral” rating and issued a $56.00 price objective on shares of Verizon Communications in a research note on Tuesday, September 4th. Barclays downgraded Verizon Communications from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $56.00 to $50.00 in a research note on Tuesday, September 4th. Zacks Investment Research raised Verizon Communications from a “hold” rating to a “buy” rating and set a $59.00 price objective for the company in a research note on Wednesday, August 8th. Scotiabank set a $61.00 price objective on Verizon Communications and gave the stock a “buy” rating in a research note on Wednesday, July 25th. Finally, Robert W. Baird increased their price objective on Verizon Communications from $52.00 to $53.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 25th. Seven research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Verizon Communications currently has a consensus rating of “Buy” and an average price target of $55.17.

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; 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.

Recommended Story: Stock Ratings and Recommendations: Understanding Analyst Upgrades and Downgrades

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.

Leave a Reply