Lakeview Capital Partners LLC Has $1.88 Million Stock Holdings in Verizon Communications Inc. (NYSE:VZ)

Lakeview Capital Partners LLC boosted its position in Verizon Communications Inc. (NYSE:VZ) by 3.4% during the second quarter, Holdings Channel reports. The institutional investor owned 32,900 shares of the cell phone carrier’s stock after purchasing an additional 1,072 shares during the quarter. Verizon Communications comprises approximately 1.1% of Lakeview Capital Partners LLC’s portfolio, making the stock its 20th largest holding. Lakeview Capital Partners LLC’s holdings in Verizon Communications were worth $1,880,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Foundry Partners LLC increased its position in shares of Verizon Communications by 10.1% during the 2nd 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. increased its position in shares of Verizon Communications by 6.7% during the 2nd 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 increased its position in shares of Verizon Communications by 0.5% during the 2nd 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. Mengis Capital Management Inc. increased its position in shares of Verizon Communications by 2.0% during the 2nd 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. Finally, Liberty Capital Management Inc. increased its position in shares of Verizon Communications by 5.4% during the 2nd 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. 65.99% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts have weighed in on VZ shares. UBS Group lowered Verizon Communications from a “buy” rating to a “neutral” rating and set a $57.70 price target on the stock. in a research report on Thursday, May 30th. They noted that the move was a valuation call. Citigroup lowered Verizon Communications from a “buy” rating to a “neutral” rating and set a $62.00 target price on the stock. in a report on Monday, July 8th. Finally, Zacks Investment Research raised Verizon Communications from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a report on Monday, August 5th. Nine equities research 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.

In related news, EVP Craig L. Silliman sold 1,349 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $59.20, for a total transaction of $79,860.80. Following the transaction, the executive vice president now directly owns 26,728 shares of the company’s stock, valued at approximately $1,582,297.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 4,047 shares of company stock worth $234,591 over the last three months. 0.03% of the stock is owned by insiders.

VZ stock opened at $56.65 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.84 and a debt-to-equity ratio of 2.12. The firm has a market capitalization of $232.72 billion, a PE ratio of 12.03, a PEG ratio of 2.75 and a beta of 0.53. Verizon Communications Inc. has a 1-year low of $52.28 and a 1-year high of $61.58. The business’s 50 day simple moving average is $56.52 and its 200 day simple moving average is $57.11.

Verizon Communications (NYSE:VZ) last posted its earnings results on Thursday, August 1st. The cell phone carrier reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.03. The business had revenue of $32.07 billion for the quarter, compared to analyst estimates of $32.42 billion. Verizon Communications had a return on equity of 34.91% and a net margin of 12.08%. The firm’s revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.20 EPS. As a group, sell-side analysts predict that Verizon Communications Inc. will post 4.8 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were issued a dividend of $0.6025 per share. This represents a $2.41 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date was Tuesday, July 9th. Verizon Communications’s payout ratio is presently 51.17%.

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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