Verizon Communications Inc. (VZ) Stake Lessened by Baugh & Associates LLC

Baugh & Associates LLC lessened its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 8.6% in the 2nd quarter, HoldingsChannel reports. The fund owned 59,235 shares of the cell phone carrier’s stock after selling 5,584 shares during the period. Verizon Communications makes up about 2.6% of Baugh & Associates LLC’s holdings, making the stock its 22nd largest holding. Baugh & Associates LLC’s holdings in Verizon Communications were worth $2,980,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in VZ. CI Global Investments Inc. bought a new stake in shares of Verizon Communications during the 1st quarter worth about $261,019,000. BlackRock Inc. lifted its position in shares of Verizon Communications by 1.6% during the 1st quarter. BlackRock Inc. now owns 270,175,376 shares of the cell phone carrier’s stock worth $12,919,788,000 after purchasing an additional 4,270,608 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Verizon Communications by 34.2% during the 1st quarter. American Century Companies Inc. now owns 9,725,699 shares of the cell phone carrier’s stock worth $465,083,000 after purchasing an additional 2,481,128 shares during the last quarter. Toronto Dominion Bank lifted its position in shares of Verizon Communications by 101.6% during the 1st quarter. Toronto Dominion Bank now owns 4,756,060 shares of the cell phone carrier’s stock worth $227,394,000 after purchasing an additional 2,396,905 shares during the last quarter. Finally, Brandywine Global Investment Management LLC lifted its position in shares of Verizon Communications by 200.6% during the 4th quarter. Brandywine Global Investment Management LLC now owns 3,511,699 shares of the cell phone carrier’s stock worth $185,875,000 after purchasing an additional 2,343,363 shares during the last quarter. Institutional investors own 63.99% of the company’s stock.

Verizon Communications stock opened at $53.14 on Thursday. The company has a quick ratio of 0.92, a current ratio of 0.96 and a debt-to-equity ratio of 2.04. The company has a market capitalization of $221.01 billion, a price-to-earnings ratio of 14.21, a PEG ratio of 1.94 and a beta of 0.69. Verizon Communications Inc. has a 12 month low of $43.97 and a 12 month high of $55.42.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Tuesday, July 24th. The cell phone carrier reported $1.20 EPS for the quarter, beating the consensus estimate of $1.14 by $0.06. The firm had revenue of $32.20 billion during the quarter, compared to analysts’ expectations of $31.78 billion. Verizon Communications had a return on equity of 38.62% and a net margin of 23.88%. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.96 EPS. analysts expect that Verizon Communications Inc. will post 4.66 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 1st. Shareholders of record on Wednesday, October 10th will be issued a $0.6025 dividend. This is a boost from Verizon Communications’s previous quarterly dividend of $0.59. The ex-dividend date is Tuesday, October 9th. This represents a $2.41 annualized dividend and a yield of 4.54%. Verizon Communications’s dividend payout ratio is 63.10%.

Several equities analysts recently weighed in on VZ shares. Zacks Investment Research raised Verizon Communications from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research report on Wednesday, August 1st. Scotiabank set a $61.00 price objective on Verizon Communications and gave the stock a “buy” rating in a research report on Wednesday, July 25th. Goldman Sachs Group raised Verizon Communications from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $51.00 to $56.00 in a research report on Thursday, June 21st. Deutsche Bank raised Verizon Communications from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research report on Tuesday, June 19th. Finally, Barclays cut Verizon Communications from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $56.00 to $50.00 in a research report on Tuesday, September 4th. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $55.42.

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; multimedia, business-focused, and location-based services, as well as international travel services; and network access services to deliver various Internet of Things products and services.

See Also: Return on Investment (ROI)

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

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