Verizon Communications Inc. (NYSE:VZ) Shares Bought by Epstein & White Financial LLC

Epstein & White Financial LLC raised its position in Verizon Communications Inc. (NYSE:VZ) by 32.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 20,819 shares of the cell phone carrier’s stock after acquiring an additional 5,077 shares during the period. Verizon Communications makes up 0.6% of Epstein & White Financial LLC’s investment portfolio, making the stock its 12th largest holding. Epstein & White Financial LLC’s holdings in Verizon Communications were worth $1,150,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. S. R. Schill & Associates increased its stake in shares of Verizon Communications by 2.4% in the fourth quarter. S. R. Schill & Associates now owns 7,625 shares of the cell phone carrier’s stock worth $429,000 after buying an additional 178 shares during the last quarter. Hengehold Capital Management LLC increased its stake in Verizon Communications by 0.4% during the fourth quarter. Hengehold Capital Management LLC now owns 47,560 shares of the cell phone carrier’s stock valued at $2,674,000 after purchasing an additional 179 shares during the last quarter. Cascade Investment Advisors Inc. increased its stake in Verizon Communications by 21.5% during the fourth quarter. Cascade Investment Advisors Inc. now owns 1,033 shares of the cell phone carrier’s stock valued at $58,000 after purchasing an additional 183 shares during the last quarter. CKW Financial Group increased its stake in Verizon Communications by 2.7% during the fourth quarter. CKW Financial Group now owns 7,637 shares of the cell phone carrier’s stock valued at $429,000 after purchasing an additional 200 shares during the last quarter. Finally, Capital Asset Advisory Services LLC increased its stake in Verizon Communications by 3.4% during the second quarter. Capital Asset Advisory Services LLC now owns 6,121 shares of the cell phone carrier’s stock valued at $350,000 after purchasing an additional 200 shares during the last quarter. Institutional investors own 65.59% of the company’s stock.

In other news, EVP Craig L. Silliman sold 1,349 shares of the business’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $58.15, for a total transaction of $78,444.35. Following the completion of the transaction, the executive vice president now owns 25,379 shares of the company’s stock, valued at $1,475,788.85. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Anthony T. Skiadas sold 6,134 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $57.11, for a total transaction of $350,312.74. Following the transaction, the senior vice president now directly owns 20,000 shares of the company’s stock, valued at approximately $1,142,200. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,832 shares of company stock valued at $508,618. Corporate insiders own 0.03% of the company’s stock.

Several analysts have weighed in on the stock. Bank of America set a $64.00 target price on shares of Verizon Communications and gave the company a “buy” rating in a research note on Tuesday, April 23rd. Goldman Sachs Group set a $44.00 target price on shares of Steel Dynamics and gave the company a “buy” rating in a research note on Tuesday, April 23rd. Zacks Investment Research lowered shares of G1 Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, May 16th. Royal Bank of Canada set a €18.50 ($21.51) target price on shares of ENI and gave the company a “neutral” rating in a research note on Tuesday, April 23rd. Finally, Citigroup set a $12.00 target price on shares of Avaya and gave the company a “hold” rating in a research note on Monday, July 8th. Ten analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $59.87.

Shares of VZ traded down $0.40 during midday trading on Tuesday, hitting $56.97. 300,904 shares of the stock traded hands, compared to its average volume of 10,972,749. Verizon Communications Inc. has a 1-year low of $51.43 and a 1-year high of $61.58. The company has a market capitalization of $236.07 billion, a price-to-earnings ratio of 12.10, a PEG ratio of 2.82 and a beta of 0.51. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.87 and a quick ratio of 0.83. The company’s 50 day simple moving average is $57.28.

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be issued a dividend of $0.6025 per share. This represents a $2.41 annualized dividend and a dividend yield of 4.23%. The ex-dividend date of this dividend is Tuesday, July 9th. Verizon Communications’s dividend payout ratio (DPR) is 51.17%.

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

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