Verizon Communications Inc. (NYSE:VZ) Shares Purchased by Gryphon Financial Partners LLC

Gryphon Financial Partners LLC lifted its stake in Verizon Communications Inc. (NYSE:VZFree Report) by 89.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 20,785 shares of the cell phone carrier’s stock after acquiring an additional 9,818 shares during the quarter. Gryphon Financial Partners LLC’s holdings in Verizon Communications were worth $864,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Pacifica Partners Inc. increased its position in shares of Verizon Communications by 4.6% in the fourth quarter. Pacifica Partners Inc. now owns 5,800 shares of the cell phone carrier’s stock worth $223,000 after acquiring an additional 255 shares in the last quarter. Selective Wealth Management Inc. increased its position in shares of Verizon Communications by 2.8% in the fourth quarter. Selective Wealth Management Inc. now owns 9,511 shares of the cell phone carrier’s stock worth $374,000 after acquiring an additional 257 shares in the last quarter. Horizon Bancorp Inc. IN increased its position in shares of Verizon Communications by 24.9% in the fourth quarter. Horizon Bancorp Inc. IN now owns 1,293 shares of the cell phone carrier’s stock worth $49,000 after acquiring an additional 258 shares in the last quarter. Princeton Global Asset Management LLC increased its position in shares of Verizon Communications by 2.4% in the fourth quarter. Princeton Global Asset Management LLC now owns 10,961 shares of the cell phone carrier’s stock worth $413,000 after acquiring an additional 260 shares in the last quarter. Finally, Western Financial Corp CA increased its position in shares of Verizon Communications by 1.7% in the fourth quarter. Western Financial Corp CA now owns 16,564 shares of the cell phone carrier’s stock worth $624,000 after acquiring an additional 271 shares in the last quarter. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on VZ. Oppenheimer restated an “outperform” rating and issued a $48.00 target price on shares of Verizon Communications in a research note on Tuesday, April 23rd. StockNews.com upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating in a research note on Saturday, May 4th. Wells Fargo & Company decreased their target price on shares of Verizon Communications from $44.00 to $40.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 23rd. Royal Bank of Canada upped their target price on shares of Verizon Communications from $36.00 to $40.00 and gave the company a “sector perform” rating in a research note on Tuesday, April 2nd. Finally, Redburn Atlantic upgraded shares of Verizon Communications from a “sell” rating to a “neutral” rating and upped their target price for the company from $33.00 to $39.00 in a research note on Friday, March 22nd. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $44.36.

Read Our Latest Report on VZ

Verizon Communications Stock Up 2.2 %

Shares of NYSE:VZ opened at $41.22 on Friday. The stock has a market capitalization of $173.51 billion, a price-to-earnings ratio of 15.38, a price-to-earnings-growth ratio of 2.84 and a beta of 0.42. Verizon Communications Inc. has a 1-year low of $30.14 and a 1-year high of $43.42. The company’s fifty day moving average is $40.29 and its two-hundred day moving average is $39.59. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.67 and a current ratio of 0.71.

Verizon Communications (NYSE:VZGet Free Report) last released its quarterly earnings data on Monday, April 22nd. The cell phone carrier reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.03. Verizon Communications had a net margin of 8.44% and a return on equity of 20.41%. The business had revenue of $33 billion for the quarter, compared to analysts’ expectations of $33.23 billion. During the same quarter last year, the company earned $1.20 EPS. The company’s revenue for the quarter was up .3% compared to the same quarter last year. Equities analysts anticipate that Verizon Communications Inc. will post 4.6 EPS for the current year.

About Verizon Communications

(Free Report)

Verizon Communications Inc, through its subsidiaries, engages in the provision of communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. It operates in two segments, Verizon Consumer Group (Consumer) and Verizon Business Group (Business).

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:VZFree Report).

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.