Capital Investment Advisory Services LLC Has $1.25 Million Position in Verizon Communications Inc. (VZ)

Capital Investment Advisory Services LLC reduced its holdings in Verizon Communications Inc. (NYSE:VZ) by 7.4% in the 2nd quarter, Holdings Channel reports. The firm owned 24,801 shares of the cell phone carrier’s stock after selling 1,988 shares during the quarter. Verizon Communications comprises approximately 0.9% of Capital Investment Advisory Services LLC’s investment portfolio, making the stock its 27th biggest holding. Capital Investment Advisory Services LLC’s holdings in Verizon Communications were worth $1,248,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Trust Co increased its stake in Verizon Communications by 6.5% in the first quarter. Trust Co now owns 100,146 shares of the cell phone carrier’s stock valued at $4,789,000 after purchasing an additional 6,126 shares during the last quarter. Levin Capital Strategies L.P. increased its stake in Verizon Communications by 24.8% in the first quarter. Levin Capital Strategies L.P. now owns 24,000 shares of the cell phone carrier’s stock valued at $1,148,000 after purchasing an additional 4,775 shares during the last quarter. Wetherby Asset Management Inc. increased its stake in Verizon Communications by 3.8% in the second quarter. Wetherby Asset Management Inc. now owns 59,532 shares of the cell phone carrier’s stock valued at $2,995,000 after purchasing an additional 2,158 shares during the last quarter. Buckley Wealth Management LLC increased its stake in Verizon Communications by 8.1% in the first quarter. Buckley Wealth Management LLC now owns 54,885 shares of the cell phone carrier’s stock valued at $2,625,000 after purchasing an additional 4,131 shares during the last quarter. Finally, Waters Parkerson & CO. LLC increased its stake in Verizon Communications by 5.5% in the first quarter. Waters Parkerson & CO. LLC now owns 360,494 shares of the cell phone carrier’s stock valued at $17,239,000 after purchasing an additional 18,933 shares during the last quarter. Hedge funds and other institutional investors own 64.04% of the company’s stock.

Shares of NYSE VZ opened at $55.02 on Tuesday. Verizon Communications Inc. has a 1-year low of $43.97 and a 1-year high of $55.44. The company has a quick ratio of 0.92, a current ratio of 0.96 and a debt-to-equity ratio of 2.04. The stock has a market capitalization of $220.39 billion, a PE ratio of 14.71, a P/E/G ratio of 1.94 and a beta of 0.71.

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 Thomson Reuters’ 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 during the quarter, compared to the consensus estimate of $31.78 billion. During the same quarter in the prior year, the business earned $0.96 earnings per share. The company’s revenue was up 5.4% compared to the same quarter last year. On average, research analysts anticipate that Verizon Communications Inc. will post 4.66 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 1st. Stockholders of record on Wednesday, October 10th will be given a $0.6025 dividend. This is an increase from Verizon Communications’s previous quarterly dividend of $0.59. The ex-dividend date is Tuesday, October 9th. This represents a $2.41 annualized dividend and a dividend yield of 4.38%. Verizon Communications’s dividend payout ratio is presently 63.10%.

Several equities analysts recently commented on VZ shares. Zacks Investment Research lowered Verizon Communications from a “buy” rating to a “hold” rating in a research note on Monday, July 30th. Deutsche Bank upgraded Verizon Communications from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research note on Tuesday, June 19th. Barclays lowered Verizon Communications from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $56.00 to $50.00 in a research note on Tuesday, September 4th. Robert W. Baird upped their price target on Verizon Communications from $52.00 to $53.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 25th. Finally, Moffett Nathanson restated a “neutral” rating and set a $56.00 price target on shares of Verizon Communications in a research note on Tuesday, September 4th. Seven research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $55.42.

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.

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

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