SFE Investment Counsel Trims Position in Verizon Communications Inc. (VZ)

SFE Investment Counsel decreased its position in shares of Verizon Communications Inc. (NYSE:VZ) by 57.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,055 shares of the cell phone carrier’s stock after selling 30,623 shares during the period. SFE Investment Counsel’s holdings in Verizon Communications were worth $1,030,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of VZ. State Street Corp raised its holdings in Verizon Communications by 1.2% during the first quarter. State Street Corp now owns 168,115,884 shares of the cell phone carrier’s stock valued at $8,195,661,000 after buying an additional 2,066,816 shares in the last quarter. Harbour Capital Advisors LLC raised its holdings in Verizon Communications by 3,914.3% during the second quarter. Harbour Capital Advisors LLC now owns 1,310,548 shares of the cell phone carrier’s stock valued at $29,345,000 after buying an additional 1,277,901 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in Verizon Communications by 7.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 19,403,560 shares of the cell phone carrier’s stock valued at $866,563,000 after buying an additional 1,277,604 shares in the last quarter. Flossbach Von Storch AG raised its holdings in Verizon Communications by 139.2% during the second quarter. Flossbach Von Storch AG now owns 1,982,895 shares of the cell phone carrier’s stock valued at $88,556,000 after buying an additional 1,153,770 shares in the last quarter. Finally, Beutel Goodman & Co Ltd. raised its holdings in Verizon Communications by 22.5% during the second quarter. Beutel Goodman & Co Ltd. now owns 5,339,889 shares of the cell phone carrier’s stock valued at $183,686,000 after buying an additional 981,409 shares in the last quarter. Institutional investors own 62.05% of the company’s stock.

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In other news, EVP Craig L. Silliman sold 610 shares of the business’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $48.62, for a total value of $29,658.20. Following the transaction, the executive vice president now directly owns 5,989 shares of the company’s stock, valued at approximately $291,185.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 1,830 shares of company stock worth $89,365 over the last three months. 0.13% of the stock is owned by company insiders.

VZ has been the topic of several recent research reports. Macquarie restated a “hold” rating and set a $52.00 target price on shares of Verizon Communications in a report on Sunday, October 22nd. Cowen and Company reiterated a “hold” rating and issued a $49.00 price objective on shares of Verizon Communications in a research note on Wednesday, July 19th. SunTrust Banks, Inc. reiterated a “hold” rating and issued a $50.00 price objective on shares of Verizon Communications in a research note on Friday, October 20th. Moffett Nathanson reiterated a “buy” rating on shares of Verizon Communications in a research note on Thursday, October 12th. Finally, KeyCorp reiterated a “hold” rating on shares of Verizon Communications in a research note on Wednesday, October 11th. Two analysts have rated the stock with a sell rating, twenty have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $52.75.

Shares of Verizon Communications Inc. (NYSE:VZ) opened at $44.88 on Monday. The firm has a market capitalization of $183,085.31, a P/E ratio of 11.97, a price-to-earnings-growth ratio of 4.22 and a beta of 0.55. The company has a debt-to-equity ratio of 4.05, a quick ratio of 1.02 and a current ratio of 1.07. Verizon Communications Inc. has a 1-year low of $42.80 and a 1-year high of $54.83.

Verizon Communications (NYSE:VZ) last announced its earnings results on Thursday, October 19th. The cell phone carrier reported $0.98 EPS for the quarter, hitting the consensus estimate of $0.98. The business had revenue of $31.70 billion for the quarter, compared to the consensus estimate of $31.45 billion. Verizon Communications had a return on equity of 58.66% and a net margin of 12.80%. Verizon Communications’s revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.01 EPS. equities research analysts predict that Verizon Communications Inc. will post 3.77 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th were issued a $0.59 dividend. This is an increase from Verizon Communications’s previous quarterly dividend of $0.58. This represents a $2.36 annualized dividend and a dividend yield of 5.26%. The ex-dividend date was Friday, October 6th. Verizon Communications’s payout ratio is presently 60.51%.

About Verizon Communications

Verizon Communications Inc is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. Its segments include Wireless and Wireline. The Wireless segment offers communications products and services, including wireless voice and data services and equipment sales, to consumer, business and government customers across the United States.

Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

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