Cim LLC Increases Stock Position in Verizon Communications Inc. (NYSE:VZ)

Cim LLC lifted its position in shares of Verizon Communications Inc. (NYSE:VZGet Rating) by 6.4% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 4,807 shares of the cell phone carrier’s stock after buying an additional 290 shares during the quarter. Cim LLC’s holdings in Verizon Communications were worth $259,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of VZ. Home Federal Bank of Tennessee boosted its stake in Verizon Communications by 1.6% during the 1st quarter. Home Federal Bank of Tennessee now owns 39,005 shares of the cell phone carrier’s stock valued at $1,987,000 after acquiring an additional 600 shares during the last quarter. Solitude Financial Services lifted its position in Verizon Communications by 43.1% in the 1st quarter. Solitude Financial Services now owns 11,074 shares of the cell phone carrier’s stock valued at $564,000 after purchasing an additional 3,335 shares during the last quarter. Wilson & Boucher Capital Management LLC lifted its position in Verizon Communications by 1.2% in the 1st quarter. Wilson & Boucher Capital Management LLC now owns 17,693 shares of the cell phone carrier’s stock valued at $901,000 after purchasing an additional 202 shares during the last quarter. Roberts Wealth Advisors LLC increased its stake in Verizon Communications by 1.9% during the 1st quarter. Roberts Wealth Advisors LLC now owns 66,107 shares of the cell phone carrier’s stock valued at $3,446,000 after buying an additional 1,246 shares during the period. Finally, Rempart Asset Management Inc. increased its stake in Verizon Communications by 3.4% during the 1st quarter. Rempart Asset Management Inc. now owns 42,610 shares of the cell phone carrier’s stock valued at $2,171,000 after buying an additional 1,395 shares during the period. 63.78% of the stock is owned by hedge funds and other institutional investors.

Several analysts recently commented on VZ shares. Wolfe Research decreased their price target on shares of Verizon Communications from $60.00 to $51.00 and set a “peer perform” rating for the company in a report on Thursday, June 2nd. Royal Bank of Canada lowered their price target on shares of Verizon Communications from $57.00 to $54.00 in a report on Wednesday. The Goldman Sachs Group downgraded shares of Verizon Communications from a “buy” rating to a “neutral” rating and reduced their target price for the company from $61.00 to $55.00 in a research note on Monday, April 25th. DZ Bank downgraded shares of Verizon Communications from a “hold” rating to a “sell” rating and set a $44.00 target price on the stock. in a research note on Friday, April 29th. Finally, StockNews.com upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating in a research note on Thursday, May 12th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $56.60.

VZ stock opened at $50.79 on Thursday. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.76 and a quick ratio of 0.69. The stock has a market capitalization of $213.30 billion, a price-to-earnings ratio of 9.86, a PEG ratio of 2.52 and a beta of 0.41. The business’s fifty day moving average price is $50.12 and its two-hundred day moving average price is $51.82. Verizon Communications Inc. has a fifty-two week low of $45.55 and a fifty-two week high of $56.85.

Verizon Communications (NYSE:VZGet Rating) last posted its quarterly earnings data on Friday, April 22nd. The cell phone carrier reported $1.35 earnings per share for the quarter, hitting the consensus estimate of $1.35. Verizon Communications had a return on equity of 28.15% and a net margin of 15.93%. The firm had revenue of $33.60 billion for the quarter, compared to analysts’ expectations of $33.61 billion. During the same quarter last year, the business earned $1.31 EPS. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. Research analysts expect that Verizon Communications Inc. will post 5.4 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, August 1st. Investors of record on Friday, July 8th will be given a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a dividend yield of 5.04%. The ex-dividend date of this dividend is Thursday, July 7th. Verizon Communications’s payout ratio is currently 49.71%.

In other Verizon Communications news, CEO Tami A. Erwin sold 23,647 shares of Verizon Communications stock in a transaction dated Tuesday, April 26th. The stock was sold at an average price of $49.77, for a total value of $1,176,911.19. Following the transaction, the chief executive officer now owns 21,817 shares in the company, valued at $1,085,832.09. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Craig L. Silliman sold 1,558 shares of Verizon Communications stock in a transaction dated Monday, April 4th. The shares were sold at an average price of $52.00, for a total value of $81,016.00. Following the completion of the transaction, the executive vice president now owns 38,077 shares in the company, valued at approximately $1,980,004. The disclosure for this sale can be found here. Insiders sold 28,321 shares of company stock worth $1,415,192 in the last 90 days. 0.02% of the stock is owned by company insiders.

Verizon Communications Profile (Get Rating)

Verizon Communications Inc, through its subsidiaries, offers communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. Its Consumer segment provides postpaid and prepaid service plans; internet access on notebook computers and tablets; wireless equipment, including smartphones and other handsets; and wireless-enabled internet devices, such as tablets, and other wireless-enabled connected devices comprising smart watches.

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

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