Vivaldi Capital Management LLC Raises Holdings in Verizon Communications Inc. (NYSE:VZ)

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Vivaldi Capital Management LLC lifted its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 4.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,490 shares of the cell phone carrier’s stock after acquiring an additional 325 shares during the period. Vivaldi Capital Management LLC’s holdings in Verizon Communications were worth $485,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Ausdal Financial Partners Inc. lifted its position in shares of Verizon Communications by 1.1% in the second 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 increased its position in shares of Verizon Communications by 4.7% during the second quarter. Clearwater Capital Advisors LLC now owns 4,170 shares of the cell phone carrier’s stock worth $238,000 after acquiring an additional 187 shares during the last quarter. Capital Asset Advisory Services LLC increased its holdings in Verizon Communications by 3.4% during the 2nd quarter. Capital Asset Advisory Services LLC now owns 6,121 shares of the cell phone carrier’s stock worth $350,000 after purchasing an additional 200 shares during the last quarter. Waller Financial Planning Group Inc. increased its stake in shares of Verizon Communications by 2.7% in the second quarter. Waller Financial Planning Group Inc. now owns 7,587 shares of the cell phone carrier’s stock worth $432,000 after buying an additional 200 shares during the last quarter. Finally, Ballew Advisors Inc increased its position in shares of Verizon Communications by 5.7% in the 2nd quarter. Ballew Advisors Inc now owns 3,730 shares of the cell phone carrier’s stock worth $215,000 after purchasing an additional 200 shares during the last quarter. 65.67% of the stock is currently owned by institutional investors.

In other news, CEO Tami A. Erwin sold 17,000 shares of Verizon Communications stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $57.75, for a total transaction of $981,750.00. Following the completion of the sale, the chief executive officer now owns 853 shares of the company’s stock, valued at $49,260.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Craig L. Silliman sold 1,349 shares of Verizon Communications stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $56.55, for a total transaction of $76,285.95. Following the completion of the sale, the executive vice president now owns 24,030 shares of the company’s stock, valued at approximately $1,358,896.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,047 shares of company stock valued at $1,212,038. Company insiders own 0.03% of the company’s stock.

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

VZ stock traded up $0.31 during midday trading on Friday, reaching $60.29. The stock had a trading volume of 18,072,630 shares, compared to its average volume of 10,416,934. Verizon Communications Inc. has a twelve month low of $52.28 and a twelve month high of $61.58. The business has a fifty day simple moving average of $57.39 and a two-hundred day simple moving average of $57.56. The company has a quick ratio of 0.84, a current ratio of 0.87 and a debt-to-equity ratio of 2.12. The firm has a market cap of $247.86 billion, a price-to-earnings ratio of 12.80, a PEG ratio of 2.88 and a beta of 0.52.

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

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be issued a dividend of $0.615 per share. This is a boost from Verizon Communications’s previous quarterly dividend of $0.60. The ex-dividend date is Wednesday, October 9th. This represents a $2.46 annualized dividend and a yield of 4.08%. Verizon Communications’s dividend payout ratio is presently 51.17%.

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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