Coldstream Capital Management Inc. Has $4.01 Million Stock Holdings in Verizon Communications Inc. (NYSE:VZ)

Coldstream Capital Management Inc. lessened its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 2.2% in the second quarter, Holdings Channel.com reports. The fund owned 70,166 shares of the cell phone carrier’s stock after selling 1,590 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Verizon Communications were worth $4,009,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in VZ. Ausdal Financial Partners Inc. lifted its position in Verizon Communications by 1.1% in the 2nd quarter. Ausdal Financial Partners Inc. now owns 17,615 shares of the cell phone carrier’s stock valued at $998,000 after acquiring an additional 185 shares in the last quarter. Clearwater Capital Advisors LLC lifted its position in Verizon Communications by 4.7% in the 2nd quarter. Clearwater Capital Advisors LLC now owns 4,170 shares of the cell phone carrier’s stock valued at $238,000 after acquiring an additional 187 shares in the last quarter. Capital Asset Advisory Services LLC lifted its position in Verizon Communications by 3.4% in the 2nd quarter. Capital Asset Advisory Services LLC now owns 6,121 shares of the cell phone carrier’s stock valued at $350,000 after acquiring an additional 200 shares in the last quarter. Waller Financial Planning Group Inc. lifted its position in Verizon Communications by 2.7% in the 2nd quarter. Waller Financial Planning Group Inc. now owns 7,587 shares of the cell phone carrier’s stock valued at $432,000 after acquiring an additional 200 shares in the last quarter. Finally, Ballew Advisors Inc lifted its position in Verizon Communications by 5.7% in the 2nd quarter. Ballew Advisors Inc now owns 3,730 shares of the cell phone carrier’s stock valued at $215,000 after acquiring an additional 200 shares in the last quarter. 65.67% of the stock is owned by hedge funds and other institutional investors.

VZ stock traded up $0.31 during midday trading on Friday, hitting $60.29. The company’s stock had a trading volume of 18,072,630 shares, compared to its average volume of 10,416,934. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.87 and a quick ratio of 0.84. Verizon Communications Inc. has a twelve month low of $52.28 and a twelve month high of $61.58. The company’s fifty day moving average price is $57.39 and its 200 day moving average price is $57.56. The stock has a market capitalization of $247.86 billion, a P/E ratio of 12.80, a PEG ratio of 2.88 and a beta of 0.52.

Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Thursday, August 1st. The cell phone carrier reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.03. The company had revenue of $32.07 billion for the quarter, compared to analyst estimates of $32.42 billion. Verizon Communications had a net margin of 12.08% and a return on equity of 34.91%. Verizon Communications’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.20 EPS. Equities analysts expect that Verizon Communications Inc. will post 4.81 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be paid a dividend of $0.615 per share. The ex-dividend date of this dividend is Wednesday, October 9th. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.60. This represents a $2.46 annualized dividend and a dividend yield of 4.08%. Verizon Communications’s payout ratio is currently 51.17%.

Several equities research analysts recently commented on the stock. Citigroup set a $62.00 price objective on shares of Verizon Communications and gave the company a “hold” rating in a research report on Tuesday, September 10th. Nomura set a $65.00 price target on shares of Verizon Communications and gave the company a “buy” rating in a research note on Wednesday. Zacks Investment Research upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a research note on Monday, September 2nd. UBS Group lowered shares of Verizon Communications from a “buy” rating to a “neutral” rating and set a $57.70 price target on the stock. in a research note on Thursday, May 30th. They noted that the move was a valuation call. Finally, Oppenheimer upgraded shares of Verizon Communications from a “market perform” rating to an “outperform” rating and set a $70.00 price target on the stock in a research note on Tuesday, August 27th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $61.30.

In related news, CEO Tami A. Erwin sold 17,000 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $57.75, for a total value of $981,750.00. Following the transaction, the chief executive officer now owns 853 shares in the company, valued at approximately $49,260.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Craig L. Silliman sold 1,349 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $56.55, for a total transaction of $76,285.95. Following the completion of the transaction, the executive vice president now owns 24,030 shares in the company, valued at approximately $1,358,896.50. The disclosure for this sale can be found here. Insiders have sold a total of 21,047 shares of company stock worth $1,212,038 over the last 90 days. 0.03% of the stock is owned by company insiders.

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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