John G Ullman & Associates Inc. Raises Stock Holdings in Verizon Communications Inc. (NYSE:VZ)

John G Ullman & Associates Inc. increased its position in Verizon Communications Inc. (NYSE:VZ) by 1.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,681 shares of the cell phone carrier’s stock after acquiring an additional 600 shares during the period. John G Ullman & Associates Inc.’s holdings in Verizon Communications were worth $3,511,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the stock. Winslow Evans & Crocker Inc. raised its stake in shares of Verizon Communications by 5.0% during the 2nd quarter. Winslow Evans & Crocker Inc. now owns 63,285 shares of the cell phone carrier’s stock valued at $3,488,000 after buying an additional 3,011 shares during the last quarter. Community Financial Services Group LLC raised its stake in shares of Verizon Communications by 5.3% during the 1st quarter. Community Financial Services Group LLC now owns 122,402 shares of the cell phone carrier’s stock valued at $6,577,000 after buying an additional 6,160 shares during the last quarter. Financial Enhancement Group LLC raised its stake in shares of Verizon Communications by 8.0% during the 1st quarter. Financial Enhancement Group LLC now owns 174,244 shares of the cell phone carrier’s stock valued at $9,362,000 after buying an additional 12,850 shares during the last quarter. Verus Financial Partners Inc. raised its stake in shares of Verizon Communications by 4.6% during the 1st quarter. Verus Financial Partners Inc. now owns 6,644 shares of the cell phone carrier’s stock valued at $357,000 after buying an additional 293 shares during the last quarter. Finally, Syntal Capital Partners LLC raised its stake in shares of Verizon Communications by 31.7% during the 1st quarter. Syntal Capital Partners LLC now owns 23,610 shares of the cell phone carrier’s stock valued at $1,268,000 after buying an additional 5,681 shares during the last quarter. Institutional investors own 65.23% of the company’s stock.

A number of equities analysts have weighed in on the company. Morgan Stanley reduced their price objective on 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. Barclays reiterated a “hold” rating and set a $54.00 price objective on shares of Verizon Communications in a research note on Friday, April 17th. Robert W. Baird reduced their price objective on Verizon Communications from $60.00 to $58.00 and set a “neutral” rating for the company in a research note on Tuesday, April 28th. SunTrust Banks lifted their price target on Verizon Communications from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Finally, Royal Bank of Canada restated a “hold” rating and issued a $57.00 price target on shares of Verizon Communications in a research note on Sunday, July 26th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $62.00.

VZ stock opened at $57.48 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 1.94. Verizon Communications Inc. has a 12-month low of $48.84 and a 12-month high of $62.22. The stock has a market cap 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 business’s 50-day moving average is $55.64 and its 200 day moving average is $56.51.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Friday, July 24th. The cell phone carrier reported $1.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.15 by $0.03. Verizon Communications had a return on equity of 32.15% and a net margin of 14.76%. The company had revenue of $30.40 billion for the quarter, compared to analysts’ expectations of $29.98 billion. During the same period in the previous year, the firm posted $1.23 EPS. Verizon Communications’s revenue was down 5.2% compared to the same quarter last year. As a group, equities analysts forecast that Verizon Communications Inc. will post 4.78 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Friday, July 10th will be issued a dividend of $0.615 per share. This represents a $2.46 annualized dividend and a dividend yield of 4.28%. The ex-dividend date of this dividend is Thursday, July 9th. Verizon Communications’s dividend payout ratio is currently 51.14%.

Verizon Communications Company 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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