Verizon Communications Inc. (NYSE:VZ) Stake Decreased by Bailard Inc.

Bailard Inc. lessened its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 18.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 74,404 shares of the cell phone carrier’s stock after selling 17,202 shares during the period. Bailard Inc.’s holdings in Verizon Communications were worth $3,068,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Koesten Hirschmann & Crabtree INC. bought a new stake in Verizon Communications during the first quarter worth approximately $25,000. Vermillion & White Wealth Management Group LLC acquired a new position in Verizon Communications in the fourth quarter worth approximately $29,000. MFA Wealth Advisors LLC acquired a new position in Verizon Communications in the second quarter worth approximately $33,000. Pittenger & Anderson Inc. grew its position in Verizon Communications by 50.4% in the first quarter. Pittenger & Anderson Inc. now owns 883 shares of the cell phone carrier’s stock worth $37,000 after buying an additional 296 shares during the last quarter. Finally, Vima LLC purchased a new position in Verizon Communications during the 4th quarter worth approximately $36,000. Institutional investors own 62.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on VZ shares. The Goldman Sachs Group started coverage on shares of Verizon Communications in a research report on Monday, July 1st. They set a “buy” rating and a $50.00 price objective on the stock. JPMorgan Chase & Co. lowered their price target on shares of Verizon Communications from $46.00 to $45.00 and set a “neutral” rating on the stock in a report on Tuesday, July 23rd. Scotiabank boosted their price target on shares of Verizon Communications from $45.50 to $46.50 and gave the company a “sector perform” rating in a report on Wednesday, July 10th. Tigress Financial boosted their price target on shares of Verizon Communications from $50.00 to $52.00 and gave the company a “buy” rating in a report on Friday, May 17th. Finally, TD Cowen boosted their price target on shares of Verizon Communications from $48.00 to $51.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $45.78.

Verizon Communications Stock Up 0.7 %

VZ stock opened at $41.50 on Tuesday. The firm has a market cap of $174.68 billion, a PE ratio of 15.49, a PEG ratio of 3.72 and a beta of 0.41. The company has a current ratio of 0.63, a quick ratio of 0.60 and a debt-to-equity ratio of 1.29. Verizon Communications Inc. has a 1 year low of $30.14 and a 1 year high of $43.42. The company has a fifty day simple moving average of $40.75 and a 200 day simple moving average of $40.44.

Verizon Communications (NYSE:VZ) last released its earnings results on Monday, July 22nd. The cell phone carrier reported $1.15 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.15. The firm had revenue of $32.80 billion during the quarter, compared to analyst estimates of $33.05 billion. Verizon Communications had a net margin of 8.38% and a return on equity of 20.10%. The business’s revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the business 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 business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 6.41%. The ex-dividend date of this dividend was Wednesday, July 10th. Verizon Communications’s dividend payout ratio is currently 99.25%.

About Verizon Communications

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).