HYA Advisors Inc Trims Stock Position in Verizon Communications Inc. (NYSE:VZ)

HYA Advisors Inc lowered its holdings in shares of Verizon Communications Inc. (NYSE:VZGet Rating) by 4.3% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,504 shares of the cell phone carrier’s stock after selling 747 shares during the quarter. HYA Advisors Inc’s holdings in Verizon Communications were worth $838,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Virginia Retirement Systems ET AL increased its holdings in Verizon Communications by 0.5% in the 1st quarter. Virginia Retirement Systems ET AL now owns 1,996,800 shares of the cell phone carrier’s stock worth $101,717,000 after acquiring an additional 9,200 shares in the last quarter. NorthCrest Asset Manangement LLC boosted its stake in Verizon Communications by 860.0% in the 1st quarter. NorthCrest Asset Manangement LLC now owns 336,892 shares of the cell phone carrier’s stock worth $17,161,000 after purchasing an additional 301,800 shares during the period. WC Walker & Associates Inc. boosted its stake in Verizon Communications by 2.7% in the 1st quarter. WC Walker & Associates Inc. now owns 41,306 shares of the cell phone carrier’s stock worth $2,236,000 after purchasing an additional 1,096 shares during the period. Wilson & Boucher Capital Management LLC boosted its stake 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 worth $901,000 after purchasing an additional 202 shares during the period. Finally, CRA Financial Services LLC boosted its stake in Verizon Communications by 9.1% in the 1st quarter. CRA Financial Services LLC now owns 16,518 shares of the cell phone carrier’s stock worth $841,000 after purchasing an additional 1,375 shares during the period. 62.83% of the stock is owned by hedge funds and other institutional investors.

Verizon Communications Stock Down 2.7 %

Shares of VZ opened at $39.48 on Thursday. The company has a market cap of $165.80 billion, a PE ratio of 7.91, a P/E/G ratio of 1.92 and a beta of 0.36. The business has a fifty day moving average of $44.21 and a 200 day moving average of $48.61. Verizon Communications Inc. has a 52-week low of $39.47 and a 52-week high of $55.51. The company has a quick ratio of 0.69, a current ratio of 0.76 and a debt-to-equity ratio of 1.56.

Verizon Communications (NYSE:VZGet Rating) last issued its quarterly earnings results on Friday, July 22nd. The cell phone carrier reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). The company had revenue of $33.79 billion during the quarter, compared to the consensus estimate of $33.77 billion. Verizon Communications had a return on equity of 26.95% and a net margin of 15.48%. The firm’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.37 earnings per share. On average, sell-side analysts expect that Verizon Communications Inc. will post 5.19 EPS for the current year.

Verizon Communications Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, October 7th will be paid a $0.6525 dividend. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.64. The ex-dividend date is Thursday, October 6th. This represents a $2.61 dividend on an annualized basis and a yield of 6.61%. Verizon Communications’s dividend payout ratio (DPR) is presently 51.30%.

Insiders Place Their Bets

In other Verizon Communications news, EVP Craig L. Silliman sold 1,558 shares of the stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $51.42, for a total value of $80,112.36. Following the sale, the executive vice president now owns 33,403 shares in the company, valued at $1,717,582.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on VZ shares. Bank of America downgraded Verizon Communications from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $64.00 to $51.00 in a research note on Thursday, July 28th. Raymond James restated an “outperform” rating and issued a $64.00 price target on shares of Verizon Communications in a research note on Thursday, July 7th. Moffett Nathanson downgraded Verizon Communications from a “market perform” rating to an “underperform” rating and set a $41.00 price target for the company. in a research note on Thursday, August 18th. Deutsche Bank Aktiengesellschaft lowered their target price on Verizon Communications from $59.00 to $58.00 in a research report on Tuesday, July 19th. Finally, Wells Fargo & Company lowered their target price on Verizon Communications from $58.00 to $52.00 and set an “equal weight” rating for the company in a research report on Friday, July 8th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $55.61.

About Verizon Communications

(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.

See Also

Want to see what other hedge funds are holding VZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Verizon Communications Inc. (NYSE:VZGet Rating).

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

Receive News & Ratings for Verizon Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verizon Communications and related companies with MarketBeat.com's FREE daily email newsletter.