Blue Fin Capital Inc. Lowers Stake in Verizon Communications Inc. (VZ)

Blue Fin Capital Inc. lessened its holdings in Verizon Communications Inc. (NYSE:VZ) by 13.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 12,492 shares of the cell phone carrier’s stock after selling 1,904 shares during the period. Blue Fin Capital Inc.’s holdings in Verizon Communications were worth $597,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Exane Derivatives purchased a new stake in Verizon Communications during the fourth quarter valued at approximately $103,000. Earnest Partners LLC purchased a new stake in Verizon Communications during the fourth quarter valued at approximately $103,000. Stelac Advisory Services LLC purchased a new stake in Verizon Communications during the fourth quarter valued at approximately $111,000. Financial Gravity Wealth Inc. purchased a new stake in Verizon Communications during the first quarter valued at approximately $128,000. Finally, Wagner Wealth Management LLC purchased a new stake in Verizon Communications during the fourth quarter valued at approximately $129,000. 63.72% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts recently commented on the stock. Zacks Investment Research cut shares of Verizon Communications from a “hold” rating to a “sell” rating in a research report on Saturday, June 30th. Goldman Sachs Group raised shares of Verizon Communications from a “neutral” rating to a “buy” rating and increased their target price for the company from $51.00 to $56.00 in a research report on Thursday, June 21st. Deutsche Bank raised shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a report on Tuesday, June 19th. Jefferies Financial Group began coverage on shares of Verizon Communications in a report on Thursday, June 7th. They issued a “hold” rating and a $52.00 price target for the company. Finally, JPMorgan Chase & Co. raised shares of Verizon Communications from a “neutral” rating to an “overweight” rating and set a $58.00 price target for the company in a report on Friday, May 11th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and eighteen have assigned a buy rating to the stock. Verizon Communications has a consensus rating of “Buy” and a consensus target price of $54.62.

NYSE:VZ opened at $51.48 on Friday. The firm has a market capitalization of $211.68 billion, a PE ratio of 13.76, a price-to-earnings-growth ratio of 1.78 and a beta of 0.65. Verizon Communications Inc. has a 1-year low of $42.80 and a 1-year high of $54.77. The company has a current ratio of 0.98, a quick ratio of 0.94 and a debt-to-equity ratio of 2.15.

Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Tuesday, April 24th. The cell phone carrier reported $1.17 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.06. The company had revenue of $31.77 billion for the quarter, compared to analyst estimates of $31.25 billion. Verizon Communications had a net margin of 24.37% and a return on equity of 42.62%. The firm’s revenue was up 6.6% on a year-over-year basis. During the same quarter last year, the business earned $0.95 earnings per share. research analysts predict that Verizon Communications Inc. will post 4.58 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 1st. Investors of record on Tuesday, July 10th will be given a dividend of $0.59 per share. The ex-dividend date is Monday, July 9th. This represents a $2.36 annualized dividend and a yield of 4.58%. Verizon Communications’s dividend payout ratio is presently 63.10%.

In related news, SVP Anthony T. Skiadas sold 1,974 shares of the firm’s stock in a transaction on Tuesday, May 1st. The shares were sold at an average price of $49.44, for a total transaction of $97,594.56. Following the sale, the senior vice president now owns 16,060 shares in the company, valued at $794,006.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.09% of the stock is currently 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; 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.

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

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