Verizon Communications Inc. (NYSE:VZ) Shares Sold by Sepio Capital LP

Sepio Capital LP cut its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 10.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 46,660 shares of the cell phone carrier’s stock after selling 5,489 shares during the quarter. Sepio Capital LP’s holdings in Verizon Communications were worth $1,924,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Koesten Hirschmann & Crabtree INC. purchased a new position in shares of Verizon Communications during the 1st quarter worth $25,000. Vermillion & White Wealth Management Group LLC purchased a new position in Verizon Communications in the fourth quarter worth approximately $29,000. Mizuho Securities Co. Ltd. acquired a new stake in Verizon Communications during the second quarter worth $32,000. MFA Wealth Advisors LLC purchased a new stake in Verizon Communications in the second quarter valued at $33,000. Finally, Vima LLC acquired a new position in shares of Verizon Communications in the 4th quarter valued at $36,000. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Verizon Communications Stock Up 0.6 %

Shares of Verizon Communications stock opened at $44.89 on Friday. Verizon Communications Inc. has a 52-week low of $30.14 and a 52-week high of $45.05. The company has a 50 day moving average of $41.76 and a 200 day moving average of $40.94. The company has a market capitalization of $188.95 billion, a P/E ratio of 16.75, a P/E/G ratio of 4.03 and a beta of 0.42. The company has a quick ratio of 0.60, a current ratio of 0.63 and a debt-to-equity ratio of 1.29.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Monday, July 22nd. The cell phone carrier reported $1.15 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.15. The company had revenue of $32.80 billion for the quarter, compared to analysts’ expectations of $33.05 billion. Verizon Communications had a return on equity of 20.10% and a net margin of 8.38%. Verizon Communications’s quarterly revenue was up .6% on a year-over-year basis. During the same period last year, the firm earned $1.21 earnings per share. As a group, research analysts forecast that Verizon Communications Inc. will post 4.58 EPS for the current fiscal year.

Verizon Communications Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be paid a dividend of $0.678 per share. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.67. This represents a $2.71 annualized dividend and a yield of 6.04%. The ex-dividend date is Thursday, October 10th. Verizon Communications’s dividend payout ratio (DPR) is currently 101.12%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on VZ. Raymond James boosted their price objective on shares of Verizon Communications from $44.00 to $48.00 and gave the company an “outperform” rating in a report on Tuesday. JPMorgan Chase & Co. decreased their price objective 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. KeyCorp lowered their price objective on shares of Verizon Communications from $46.00 to $44.00 and set an “overweight” rating for the company in a research report on Friday, September 6th. The Goldman Sachs Group initiated coverage on Verizon Communications in a research report on Monday, July 1st. They issued a “buy” rating and a $50.00 target price on the stock. Finally, Scotiabank raised their price target on Verizon Communications from $45.50 to $46.50 and gave the stock a “sector perform” rating in a research report on Wednesday, July 10th. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $46.09.

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).