Verizon Communications Inc. (NYSE:VZ) Shares Sold by JB Capital LLC

JB Capital LLC lessened its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 80.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,292 shares of the cell phone carrier’s stock after selling 77,521 shares during the period. JB Capital LLC’s holdings in Verizon Communications were worth $796,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Alliance Wealth Advisors LLC raised its holdings in shares of Verizon Communications by 1.4% in the 2nd quarter. Alliance Wealth Advisors LLC now owns 17,760 shares of the cell phone carrier’s stock worth $732,000 after buying an additional 241 shares in the last quarter. Sawgrass Asset Management LLC raised its stake in Verizon Communications by 1.2% during the second quarter. Sawgrass Asset Management LLC now owns 21,568 shares of the cell phone carrier’s stock worth $889,000 after acquiring an additional 250 shares in the last quarter. Fermata Advisors LLC boosted its position in Verizon Communications by 5.0% in the second quarter. Fermata Advisors LLC now owns 5,383 shares of the cell phone carrier’s stock valued at $222,000 after buying an additional 254 shares in the last quarter. Private Portfolio Partners LLC raised its stake in shares of Verizon Communications by 0.9% in the fourth quarter. Private Portfolio Partners LLC now owns 27,457 shares of the cell phone carrier’s stock valued at $1,035,000 after acquiring an additional 255 shares during the last quarter. Finally, BKM Wealth Management LLC boosted its holdings in shares of Verizon Communications by 7.4% in the 1st quarter. BKM Wealth Management LLC now owns 3,715 shares of the cell phone carrier’s stock worth $156,000 after acquiring an additional 257 shares in the last quarter. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Verizon Communications Trading Up 0.8 %

Shares of Verizon Communications stock traded up $0.34 during trading on Friday, reaching $41.21. 11,757,332 shares of the company were exchanged, compared to its average volume of 18,484,035. Verizon Communications Inc. has a twelve month low of $30.14 and a twelve month high of $43.42. The business has a 50-day moving average price of $40.71 and a 200-day moving average price of $40.44. The company has a quick ratio of 0.60, a current ratio of 0.63 and a debt-to-equity ratio of 1.29. The firm has a market capitalization of $173.46 billion, a price-to-earnings ratio of 15.37, a P/E/G ratio of 3.72 and a beta of 0.41.

Verizon Communications (NYSE:VZ) last posted its earnings results on Monday, July 22nd. The cell phone carrier reported $1.15 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.15. The company had revenue of $32.80 billion during the quarter, compared to analyst estimates of $33.05 billion. Verizon Communications had a return on equity of 20.10% and a net margin of 8.38%. The company’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.21 EPS. Sell-side analysts anticipate that Verizon Communications Inc. will post 4.58 EPS for the current fiscal year.

Verizon Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 6.45%. The ex-dividend date of this dividend was Wednesday, July 10th. Verizon Communications’s payout ratio is presently 99.25%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on VZ. JPMorgan Chase & Co. dropped their price target on Verizon Communications from $46.00 to $45.00 and set a “neutral” rating for the company in a report on Tuesday, July 23rd. Scotiabank upped their price target on shares of Verizon Communications from $45.50 to $46.50 and gave the stock a “sector perform” rating in a research report on Wednesday, July 10th. TD Cowen increased their price objective on shares of Verizon Communications from $48.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. StockNews.com raised shares of Verizon Communications from a “hold” rating to a “buy” rating in a research note on Saturday, May 4th. Finally, The Goldman Sachs Group began coverage on shares of Verizon Communications in a research report on Monday, July 1st. They set a “buy” rating and a $50.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $45.78.

Verizon Communications Company Profile

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).