Reik & CO. LLC Raises Position in Verizon Communications Inc. (NYSE:VZ)

Reik & CO. LLC boosted its stake in Verizon Communications Inc. (NYSE:VZ) by 2.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,033 shares of the cell phone carrier’s stock after buying an additional 190 shares during the quarter. Reik & CO. LLC’s holdings in Verizon Communications were worth $498,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. LFA Lugano Financial Advisors SA purchased a new position in Verizon Communications in the 2nd quarter valued at about $27,000. Toth Financial Advisory Corp purchased a new position in Verizon Communications in the 2nd quarter valued at about $34,000. AlphaCore Capital LLC purchased a new position in Verizon Communications in the 1st quarter valued at about $35,000. Lion Street Advisors LLC acquired a new stake in Verizon Communications in the 1st quarter valued at about $38,000. Finally, HighMark Wealth Management LLC raised its holdings in Verizon Communications by 52.1% in the 2nd quarter. HighMark Wealth Management LLC now owns 788 shares of the cell phone carrier’s stock valued at $43,000 after acquiring an additional 270 shares during the last quarter. 65.23% of the stock is currently owned by hedge funds and other institutional investors.

Verizon Communications stock traded down $0.08 during trading on Thursday, hitting $58.52. The company had a trading volume of 504,226 shares, compared to its average volume of 17,920,295. Verizon Communications Inc. has a 1-year low of $48.84 and a 1-year high of $62.22. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 1.94. The company’s 50 day simple moving average is $55.97 and its 200-day simple moving average is $56.41. The stock has a market cap of $242.12 billion, a price-to-earnings ratio of 12.69, a price-to-earnings-growth ratio of 3.59 and a beta of 0.46.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Friday, July 24th. The cell phone carrier reported $1.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.03. Verizon Communications had a net margin of 14.76% and a return on equity of 32.15%. The company had revenue of $30.40 billion during the quarter, compared to analysts’ expectations of $29.98 billion. During the same quarter last year, the company posted $1.23 EPS. The firm’s revenue was down 5.2% compared to the same quarter last year. As a group, analysts forecast that Verizon Communications Inc. will post 4.78 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Friday, July 10th were given a $0.615 dividend. The ex-dividend date of this dividend was Thursday, July 9th. This represents a $2.46 annualized dividend and a yield of 4.20%. Verizon Communications’s dividend payout ratio is presently 51.14%.

A number of analysts have commented on VZ shares. Moffett Nathanson reiterated a “hold” rating and issued a $62.00 price objective on shares of Verizon Communications in a report on Friday, July 24th. Nomura reiterated a “hold” rating and issued a $61.00 price objective on shares of Verizon Communications in a report on Sunday, April 26th. Tigress Financial reiterated a “hold” rating on shares of Verizon Communications in a report on Tuesday. ValuEngine downgraded shares of Verizon Communications from a “hold” rating to a “sell” rating in a report on Friday, May 1st. Finally, Barclays restated a “hold” rating and set a $54.00 price target on shares of Verizon Communications in a report on Friday, April 17th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $62.00.

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.

See Also: Hold Rating

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

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