Verizon Communications Inc. (NYSE:VZ) Shares Sold by CVA Family Office LLC

CVA Family Office LLC reduced its holdings in Verizon Communications Inc. (NYSE:VZGet Rating) by 6.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,059 shares of the cell phone carrier’s stock after selling 711 shares during the quarter. CVA Family Office LLC’s holdings in Verizon Communications were worth $510,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in VZ. Virginia Retirement Systems ET AL boosted its stake in shares of Verizon Communications by 0.5% during the 1st quarter. Virginia Retirement Systems ET AL now owns 1,996,800 shares of the cell phone carrier’s stock worth $101,717,000 after acquiring an additional 9,200 shares in the last quarter. NorthCrest Asset Manangement LLC boosted its stake in shares of Verizon Communications by 860.0% during the 1st quarter. NorthCrest Asset Manangement LLC now owns 336,892 shares of the cell phone carrier’s stock worth $17,161,000 after acquiring an additional 301,800 shares in the last quarter. WC Walker & Associates Inc. boosted its stake in shares of Verizon Communications by 2.7% during the 1st quarter. WC Walker & Associates Inc. now owns 41,306 shares of the cell phone carrier’s stock worth $2,236,000 after acquiring an additional 1,096 shares in the last quarter. Wilson & Boucher Capital Management LLC boosted its stake in shares of Verizon Communications by 1.2% during the 1st quarter. Wilson & Boucher Capital Management LLC now owns 17,693 shares of the cell phone carrier’s stock worth $901,000 after acquiring an additional 202 shares in the last quarter. Finally, CRA Financial Services LLC boosted its stake in shares of Verizon Communications by 9.1% during the 1st quarter. CRA Financial Services LLC now owns 16,518 shares of the cell phone carrier’s stock worth $841,000 after acquiring an additional 1,375 shares in the last quarter. 62.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Craig L. Silliman sold 1,558 shares of the business’s stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $51.42, for a total transaction of $80,112.36. Following the transaction, the executive vice president now directly owns 33,403 shares in the company, valued at $1,717,582.26. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on VZ shares. Deutsche Bank Aktiengesellschaft reduced their price objective on Verizon Communications from $59.00 to $58.00 in a research note on Tuesday, July 19th. Barclays cut Verizon Communications from an “overweight” rating to an “equal weight” rating in a research report on Friday, July 22nd. Scotiabank lowered Verizon Communications from a “sector outperform” rating to a “sector perform” rating in a report on Friday, July 22nd. StockNews.com upgraded Verizon Communications from a “hold” rating to a “buy” rating in a report on Wednesday, September 14th. Finally, Wolfe Research dropped their price objective on Verizon Communications from $60.00 to $51.00 and set a “peer perform” rating on the stock in a research note on Thursday, June 2nd. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Verizon Communications currently has an average rating of “Hold” and a consensus price target of $55.68.

Verizon Communications Trading Up 0.5 %

VZ opened at $41.25 on Monday. Verizon Communications Inc. has a 1-year low of $40.66 and a 1-year high of $55.51. The company has a current ratio of 0.76, a quick ratio of 0.69 and a debt-to-equity ratio of 1.56. The company has a market cap of $173.24 billion, a P/E ratio of 8.27, a price-to-earnings-growth ratio of 1.91 and a beta of 0.36. The company has a fifty day moving average price of $44.82 and a two-hundred day moving average price of $48.87.

Verizon Communications (NYSE:VZGet Rating) last posted its quarterly earnings results on Friday, July 22nd. The cell phone carrier reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.01). Verizon Communications had a net margin of 15.48% and a return on equity of 26.95%. The company had revenue of $33.79 billion during the quarter, compared to the consensus estimate of $33.77 billion. During the same period last year, the firm posted $1.37 earnings per share. The company’s revenue for the quarter was up .1% on a year-over-year basis. Analysts predict that Verizon Communications Inc. will post 5.19 EPS for the current fiscal year.

Verizon Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Friday, October 7th will be issued a dividend of $0.6525 per share. This is a boost from Verizon Communications’s previous quarterly dividend of $0.64. This represents a $2.61 dividend on an annualized basis and a dividend yield of 6.33%. The ex-dividend date is Thursday, October 6th. Verizon Communications’s dividend payout ratio (DPR) is currently 51.30%.

About Verizon Communications

(Get Rating)

Verizon Communications Inc, through its subsidiaries, offers communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. Its Consumer segment provides postpaid and prepaid service plans; internet access on notebook computers and tablets; wireless equipment, including smartphones and other handsets; and wireless-enabled internet devices, such as tablets, and other wireless-enabled connected devices comprising smart watches.

See Also

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

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