SFE Investment Counsel Has $735,000 Stake in Verizon Communications Inc. (NYSE:VZ)

SFE Investment Counsel decreased its position in shares of Verizon Communications Inc. (NYSE:VZ) by 2.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,865 shares of the cell phone carrier’s stock after selling 290 shares during the period. SFE Investment Counsel’s holdings in Verizon Communications were worth $735,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of VZ. Regal Investment Advisors LLC increased its holdings in shares of Verizon Communications by 4.7% in the second quarter. Regal Investment Advisors LLC now owns 35,255 shares of the cell phone carrier’s stock valued at $2,014,000 after purchasing an additional 1,595 shares in the last quarter. Alta Capital Management LLC increased its holdings in shares of Verizon Communications by 0.9% in the second quarter. Alta Capital Management LLC now owns 43,339 shares of the cell phone carrier’s stock valued at $2,476,000 after purchasing an additional 394 shares in the last quarter. Hedeker Wealth LLC increased its holdings in shares of Verizon Communications by 11.0% in the second quarter. Hedeker Wealth LLC now owns 51,285 shares of the cell phone carrier’s stock valued at $2,929,000 after purchasing an additional 5,074 shares in the last quarter. Ashburton Jersey Ltd acquired a new stake in shares of Verizon Communications in the second quarter valued at approximately $134,000. Finally, KMG Fiduciary Partners LLC increased its holdings in shares of Verizon Communications by 0.6% in the second quarter. KMG Fiduciary Partners LLC now owns 67,386 shares of the cell phone carrier’s stock valued at $3,850,000 after purchasing an additional 389 shares in the last quarter. 65.60% of the stock is owned by institutional investors.

A number of research firms have commented on VZ. Zacks Investment Research raised shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a report on Monday, August 5th. Citigroup lowered shares of Verizon Communications from a “buy” rating to a “neutral” rating and set a $62.00 target price for the company. in a report on Monday, July 8th. Bank of America set a $64.00 target price on shares of Verizon Communications and gave the stock a “buy” rating in a report on Tuesday, April 23rd. Goldman Sachs Group reaffirmed a “buy” rating and set a $65.00 target price on shares of Verizon Communications in a report on Tuesday, April 23rd. Finally, UBS Group lowered shares of Verizon Communications from a “buy” rating to a “neutral” rating and set a $57.70 target price for the company. in a report on Thursday, May 30th. They noted that the move was a valuation call. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Verizon Communications currently has a consensus rating of “Hold” and an average target price of $59.33.

In other news, EVP Craig L. Silliman sold 1,349 shares of Verizon Communications stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $59.20, for a total transaction of $79,860.80. Following the transaction, the executive vice president now directly owns 26,728 shares of the company’s stock, valued at $1,582,297.60. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last three months, insiders have sold 4,047 shares of company stock worth $234,591. Insiders own 0.03% of the company’s stock.

VZ traded down $0.04 during trading on Friday, reaching $55.78. 8,544,683 shares of the company’s stock were exchanged, compared to its average volume of 13,422,528. The firm has a fifty day moving average of $56.86. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.87 and a quick ratio of 0.84. Verizon Communications Inc. has a fifty-two week low of $52.20 and a fifty-two week high of $61.58. The firm has a market cap of $230.86 billion, a price-to-earnings ratio of 11.84, a PEG ratio of 2.73 and a beta of 0.53.

Verizon Communications (NYSE:VZ) last released its earnings results on Thursday, August 1st. The cell phone carrier reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.03. The firm had revenue of $32.07 billion during the quarter, compared to analyst estimates of $32.42 billion. Verizon Communications had a net margin of 12.08% and a return on equity of 34.91%. The business’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.20 EPS. Equities research analysts forecast that Verizon Communications Inc. will post 4.8 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were given a dividend of $0.6025 per share. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $2.41 dividend on an annualized basis and a dividend yield of 4.32%. Verizon Communications’s dividend payout ratio is 51.17%.

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; 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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