Dumont & Blake Investment Advisors LLC Lowers Position in Verizon Communications Inc. (NYSE:VZ)

Dumont & Blake Investment Advisors LLC lowered its stake in shares of Verizon Communications Inc. (NYSE:VZFree Report) by 4.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,993 shares of the cell phone carrier’s stock after selling 508 shares during the quarter. Dumont & Blake Investment Advisors LLC’s holdings in Verizon Communications were worth $503,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of VZ. Norges Bank purchased a new stake in shares of Verizon Communications in the fourth quarter valued at about $1,882,164,000. Capital World Investors increased its stake in Verizon Communications by 127.6% in the 4th quarter. Capital World Investors now owns 21,801,067 shares of the cell phone carrier’s stock valued at $821,900,000 after buying an additional 12,220,777 shares during the last quarter. Capital Research Global Investors lifted its position in shares of Verizon Communications by 92.9% during the 4th quarter. Capital Research Global Investors now owns 22,599,173 shares of the cell phone carrier’s stock worth $851,989,000 after buying an additional 10,882,873 shares in the last quarter. Third Point LLC bought a new position in shares of Verizon Communications during the 4th quarter worth approximately $173,325,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in shares of Verizon Communications by 419.8% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 5,141,257 shares of the cell phone carrier’s stock worth $193,825,000 after buying an additional 4,152,099 shares during the last quarter. 62.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

VZ has been the topic of several research analyst reports. Wells Fargo & Company cut their price objective on Verizon Communications from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 23rd. Royal Bank of Canada raised their price objective on shares of Verizon Communications from $36.00 to $40.00 and gave the stock a “sector perform” rating in a report on Tuesday, April 2nd. Redburn Atlantic raised shares of Verizon Communications from a “sell” rating to a “neutral” rating and increased their target price for the company from $33.00 to $39.00 in a research report on Friday, March 22nd. StockNews.com upgraded Verizon Communications from a “hold” rating to a “buy” rating in a research note on Saturday, May 4th. Finally, Tigress Financial upped their price target on Verizon Communications from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $44.77.

Check Out Our Latest Analysis on VZ

Verizon Communications Price Performance

Shares of NYSE VZ traded up $0.42 during trading hours on Friday, reaching $41.24. 27,639,192 shares of the stock traded hands, compared to its average volume of 16,795,164. The company has a market capitalization of $173.59 billion, a P/E ratio of 15.39, a price-to-earnings-growth ratio of 3.75 and a beta of 0.42. The company’s 50-day simple moving average is $40.07 and its two-hundred day simple moving average is $40.04. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 1.42. Verizon Communications Inc. has a 52-week low of $30.14 and a 52-week high of $43.42.

Verizon Communications (NYSE:VZGet Free Report) last posted its earnings results on Monday, April 22nd. The cell phone carrier reported $1.15 EPS for the quarter, topping the consensus estimate of $1.12 by $0.03. Verizon Communications had a net margin of 8.44% and a return on equity of 20.41%. The firm had revenue of $33 billion during the quarter, compared to analysts’ expectations of $33.23 billion. During the same period last year, the company posted $1.20 EPS. The company’s quarterly revenue was up .3% compared to the same quarter last year. Equities research analysts forecast that Verizon Communications Inc. will post 4.59 EPS for the current year.

Verizon Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 6.45%. The ex-dividend date is Wednesday, July 10th. Verizon Communications’s dividend payout ratio is currently 99.25%.

Verizon Communications Profile

(Free Report)

Verizon Communications Inc, through its subsidiaries, engages in the provision of communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. It operates in two segments, Verizon Consumer Group (Consumer) and Verizon Business Group (Business).

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

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