Regentatlantic Capital LLC Buys 201 Shares of Verizon Communications Inc. (NYSE:VZ)

Regentatlantic Capital LLC lifted its stake in Verizon Communications Inc. (NYSE:VZ) by 0.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 54,924 shares of the cell phone carrier’s stock after buying an additional 201 shares during the period. Regentatlantic Capital LLC’s holdings in Verizon Communications were worth $3,138,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Foundry Partners LLC lifted its stake in Verizon Communications by 10.1% during the second quarter. Foundry Partners LLC now owns 481,450 shares of the cell phone carrier’s stock worth $27,505,000 after purchasing an additional 44,265 shares during the last quarter. Eqis Capital Management Inc. lifted its stake in Verizon Communications by 6.7% during the second quarter. Eqis Capital Management Inc. now owns 35,258 shares of the cell phone carrier’s stock worth $2,014,000 after purchasing an additional 2,213 shares during the last quarter. Iowa State Bank lifted its stake in Verizon Communications by 0.5% during the second quarter. Iowa State Bank now owns 62,206 shares of the cell phone carrier’s stock worth $3,554,000 after purchasing an additional 320 shares during the last quarter. Liberty Capital Management Inc. lifted its stake in Verizon Communications by 5.4% during the second quarter. Liberty Capital Management Inc. now owns 39,132 shares of the cell phone carrier’s stock worth $2,236,000 after purchasing an additional 2,008 shares during the last quarter. Finally, Mengis Capital Management Inc. lifted its stake in Verizon Communications by 2.0% during the second quarter. Mengis Capital Management Inc. now owns 61,776 shares of the cell phone carrier’s stock worth $3,529,000 after purchasing an additional 1,232 shares during the last quarter. Institutional investors and hedge funds own 65.60% of the company’s stock.

Shares of NYSE:VZ traded up $0.09 during trading on Wednesday, hitting $55.14. 2,391,701 shares of the company were exchanged, compared to its average volume of 12,864,446. The stock has a 50 day simple moving average of $56.97. The firm has a market cap of $227.53 billion, a P/E ratio of 11.71, a P/E/G ratio of 2.73 and a beta of 0.53. The company has a quick ratio of 0.84, a current ratio of 0.87 and a debt-to-equity ratio of 2.12. Verizon Communications Inc. has a 1-year low of $52.20 and a 1-year high of $61.58.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Thursday, August 1st. The cell phone carrier reported $1.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.03. The business had revenue of $32.07 billion during the quarter, compared to the consensus estimate of $32.42 billion. Verizon Communications had a return on equity of 34.91% and a net margin of 12.08%. Verizon Communications’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the prior year, the business posted $1.20 earnings per share. On average, equities research analysts expect that Verizon Communications Inc. will post 4.77 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were issued a $0.6025 dividend. The ex-dividend date was Tuesday, July 9th. This represents a $2.41 dividend on an annualized basis and a yield of 4.37%. Verizon Communications’s payout ratio is 51.17%.

In related news, EVP Craig L. Silliman sold 1,349 shares of the stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $58.15, for a total value of $78,444.35. Following the completion of the sale, the executive vice president now directly owns 25,379 shares in the company, valued at $1,475,788.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 4,047 shares of company stock valued at $234,591 over the last 90 days. 0.03% of the stock is currently owned by company insiders.

Several equities research analysts have weighed in on the company. Bank of America set a $64.00 target price on Verizon Communications and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Citigroup downgraded shares of Verizon Communications from a “buy” rating to a “neutral” rating and set a $62.00 price target for the company. in a report on Monday, July 8th. Zacks Investment Research upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a report on Monday. UBS Group downgraded shares of Verizon Communications from a “buy” rating to a “neutral” rating and set a $57.70 price target for the company. in a report on Thursday, May 30th. They noted that the move was a valuation call. Finally, Royal Bank of Canada reiterated a “neutral” rating and set a $57.00 price target on shares of Verizon Communications in a report on Tuesday, April 23rd. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $59.33.

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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