Accredited Investors Inc. lowered its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 6.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,071 shares of the cell phone carrier’s stock after selling 748 shares during the period. Accredited Investors Inc.’s holdings in Verizon Communications were worth $610,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Guggenheim Capital LLC increased its holdings in shares of Verizon Communications by 1.0% during the fourth quarter. Guggenheim Capital LLC now owns 1,035,051 shares of the cell phone carrier’s stock valued at $63,552,000 after acquiring an additional 9,909 shares in the last quarter. Sunbelt Securities Inc. grew its holdings in shares of Verizon Communications by 4.2% during the fourth quarter. Sunbelt Securities Inc. now owns 171,355 shares of the cell phone carrier’s stock valued at $10,292,000 after buying an additional 6,904 shares during the last quarter. First National Bank of Mount Dora Trust Investment Services increased its position in shares of Verizon Communications by 5.4% during the first quarter. First National Bank of Mount Dora Trust Investment Services now owns 98,850 shares of the cell phone carrier’s stock valued at $5,311,000 after acquiring an additional 5,052 shares in the last quarter. Stillwater Investment Management LLC raised its holdings in Verizon Communications by 1.4% in the 1st quarter. Stillwater Investment Management LLC now owns 48,657 shares of the cell phone carrier’s stock worth $2,614,000 after acquiring an additional 676 shares during the last quarter. Finally, IMS Capital Management lifted its position in Verizon Communications by 13.1% in the 1st quarter. IMS Capital Management now owns 19,345 shares of the cell phone carrier’s stock valued at $1,039,000 after acquiring an additional 2,235 shares in the last quarter. Institutional investors and hedge funds own 65.23% of the company’s stock.

VZ opened at $57.48 on Friday. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.93 and a current ratio of 0.96. The stock has a market capitalization of $237.11 billion, a price-to-earnings ratio of 12.47, a PEG ratio of 3.52 and a beta of 0.45. The company has a fifty day moving average of $55.64 and a 200 day moving average of $56.51. Verizon Communications Inc. has a fifty-two week low of $48.84 and a fifty-two week high of $62.22.

Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Friday, July 24th. The cell phone carrier reported $1.18 EPS for the quarter, beating the consensus estimate of $1.15 by $0.03. Verizon Communications had a net margin of 14.76% and a return on equity of 32.15%. The business had revenue of $30.40 billion during the quarter, compared to the consensus estimate of $29.98 billion. During the same quarter in the prior year, the firm earned $1.23 EPS. The business’s revenue was down 5.2% on a year-over-year basis. On average, equities research analysts forecast that Verizon Communications Inc. will post 4.78 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 10th will be paid a $0.615 dividend. This represents a $2.46 dividend on an annualized basis and a yield of 4.28%. The ex-dividend date of this dividend is Thursday, July 9th. Verizon Communications’s payout ratio is 51.14%.

Several research analysts have recently weighed in on the company. Barclays restated a “hold” rating and issued a $54.00 price target on shares of Verizon Communications in a research note on Friday, April 17th. Scotiabank lifted their price objective on Verizon Communications from $63.00 to $64.00 and gave the stock a “sector outperform” rating in a report on Monday, July 27th. Moffett Nathanson restated a “hold” rating and set a $62.00 target price on shares of Verizon Communications in a research note on Friday, July 24th. Morgan Stanley reduced their price target on shares of Verizon Communications from $61.00 to $60.00 and set an “equal weight” rating for the company in a research note on Friday, April 17th. Finally, Nomura restated a “hold” rating and set a $61.00 price objective on shares of Verizon Communications in a research report on Sunday, April 26th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $62.00.

Verizon Communications Profile

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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