Poehling Capital Management LLC lowered its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 28.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 4,555 shares of the cell phone carrier’s stock after selling 1,767 shares during the period. Poehling Capital Management LLC’s holdings in Verizon Communications were worth $229,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Cedar Hill Associates LLC increased its stake in Verizon Communications by 7.7% in the second quarter. Cedar Hill Associates LLC now owns 13,539 shares of the cell phone carrier’s stock valued at $681,000 after purchasing an additional 968 shares in the last quarter. Bailard Inc. increased its stake in Verizon Communications by 1.0% in the second quarter. Bailard Inc. now owns 99,356 shares of the cell phone carrier’s stock valued at $4,999,000 after purchasing an additional 977 shares in the last quarter. Live Your Vision LLC increased its stake in Verizon Communications by 24.0% in the second quarter. Live Your Vision LLC now owns 5,166 shares of the cell phone carrier’s stock valued at $265,000 after purchasing an additional 1,000 shares in the last quarter. Canal Capital Management LLC increased its stake in Verizon Communications by 2.5% in the second quarter. Canal Capital Management LLC now owns 41,657 shares of the cell phone carrier’s stock valued at $2,096,000 after purchasing an additional 1,008 shares in the last quarter. Finally, Palo Capital Inc. increased its stake in Verizon Communications by 0.9% in the second quarter. Palo Capital Inc. now owns 112,404 shares of the cell phone carrier’s stock valued at $5,655,000 after purchasing an additional 1,012 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have weighed in on the stock. Credit Suisse Group assumed coverage on shares of Verizon Communications in a research note on Tuesday, July 10th. They issued an “outperform” rating and a $58.00 price target for the company. Scotiabank set a $62.00 price target on shares of Verizon Communications and gave the company a “buy” rating in a research note on Wednesday, October 24th. Zacks Investment Research downgraded shares of Verizon Communications from a “buy” rating to a “hold” rating in a research note on Monday, October 1st. Robert W. Baird lifted their price objective on shares of Verizon Communications from $52.00 to $53.00 and gave the company a “neutral” rating in a report on Wednesday, July 25th. Finally, ValuEngine upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating in a report on Wednesday, October 24th. Eight investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Verizon Communications has an average rating of “Buy” and a consensus price target of $55.93.
Shares of NYSE VZ opened at $56.63 on Friday. The stock has a market cap of $235.67 billion, a PE ratio of 12.83, a price-to-earnings-growth ratio of 2.48 and a beta of 0.46. Verizon Communications Inc. has a 1 year low of $43.97 and a 1 year high of $58.80. The company has a quick ratio of 0.93, a current ratio of 0.97 and a debt-to-equity ratio of 1.90.
Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Tuesday, October 23rd. The cell phone carrier reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.03. Verizon Communications had a net margin of 24.71% and a return on equity of 35.50%. The firm had revenue of $32.61 billion during the quarter, compared to analysts’ expectations of $32.45 billion. During the same period last year, the company earned $0.98 earnings per share. The business’s revenue was up 2.8% on a year-over-year basis. As a group, research analysts anticipate that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, November 1st. Investors of record on Wednesday, October 10th were issued a dividend of $0.6025 per share. The ex-dividend date of this dividend was Tuesday, October 9th. This is a boost from Verizon Communications’s previous quarterly dividend of $0.59. This represents a $2.41 annualized dividend and a yield of 4.26%. Verizon Communications’s payout ratio is 64.44%.
Verizon Communications 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.
Recommended Story: How do investors use RSI to grade stocks?
Want to see what other hedge funds are holding VZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Verizon Communications Inc. (NYSE:VZ).
Receive News & Ratings for Verizon Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verizon Communications and related companies with MarketBeat.com's FREE daily email newsletter.