Stillwater Investment Management LLC reduced its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 2.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,901 shares of the cell phone carrier’s stock after selling 1,060 shares during the quarter. Verizon Communications accounts for approximately 1.1% of Stillwater Investment Management LLC’s holdings, making the stock its 27th biggest position. Stillwater Investment Management LLC’s holdings in Verizon Communications were worth $2,611,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in the stock. Catalyst Capital Advisors LLC bought a new stake in shares of Verizon Communications in the 2nd quarter worth about $103,000. Financial Gravity Wealth Inc. bought a new stake in shares of Verizon Communications in the 1st quarter worth about $128,000. Rainier Group Investment Advisory LLC bought a new stake in shares of Verizon Communications in the 1st quarter worth about $134,000. IMA Wealth Inc. bought a new stake in shares of Verizon Communications in the 2nd quarter worth about $187,000. Finally, Clarus Wealth Advisors bought a new stake in shares of Verizon Communications in the 2nd quarter worth about $182,000. Hedge funds and other institutional investors own 65.02% of the company’s stock.
Verizon Communications stock opened at $58.09 on Thursday. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.93 and a current ratio of 0.97. Verizon Communications Inc. has a 1 year low of $46.08 and a 1 year high of $61.58. The stock has a market cap of $239.79 billion, a price-to-earnings ratio of 15.53, a price-to-earnings-growth ratio of 2.53 and a beta of 0.49.
Verizon Communications (NYSE:VZ) last released its earnings results 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 company had revenue of $32.61 billion for the quarter, compared to the consensus estimate of $32.45 billion. During the same period in the prior year, the company posted $0.98 EPS. The company’s revenue was up 2.8% compared to the same quarter last year. On average, analysts forecast that Verizon Communications Inc. will post 4.68 earnings per share for the current year.
VZ has been the topic of several analyst reports. ValuEngine raised shares of Verizon Communications from a “hold” rating to a “buy” rating in a report on Thursday, November 15th. Zacks Investment Research raised shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a report on Tuesday, September 25th. Barclays increased their price objective on shares of Verizon Communications from $50.00 to $53.00 and gave the stock a “hold” rating in a report on Wednesday, October 24th. Morgan Stanley increased their price objective on shares of Verizon Communications from $56.00 to $58.00 and gave the stock an “overweight” rating in a report on Monday, October 29th. Finally, Scotiabank set a $62.00 price objective on shares of Verizon Communications and gave the stock a “buy” rating in a report on Wednesday, October 24th. Eight equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $56.22.
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About Verizon Communications
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.
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