WINTON GROUP Ltd Cuts Stock Position in Verizon Communications Inc. (NYSE:VZ)

WINTON GROUP Ltd lowered its holdings in Verizon Communications Inc. (NYSE:VZ) by 49.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,886 shares of the cell phone carrier’s stock after selling 14,510 shares during the period. WINTON GROUP Ltd’s holdings in Verizon Communications were worth $614,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of VZ. Koesten Hirschmann & Crabtree INC. bought a new stake in shares of Verizon Communications in the first quarter valued at $25,000. Vermillion & White Wealth Management Group LLC bought a new stake in shares of Verizon Communications in the fourth quarter valued at $29,000. Mizuho Securities Co. Ltd. bought a new stake in shares of Verizon Communications in the second quarter valued at $32,000. MFA Wealth Advisors LLC bought a new stake in shares of Verizon Communications in the second quarter valued at $33,000. Finally, Vima LLC bought a new stake in shares of Verizon Communications in the fourth quarter valued at $36,000. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on VZ shares. JPMorgan Chase & Co. lowered their target price on Verizon Communications from $46.00 to $45.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 23rd. Scotiabank boosted their price objective on Verizon Communications from $45.50 to $46.50 and gave the company a “sector perform” rating in a research note on Wednesday, July 10th. Royal Bank of Canada reiterated a “sector perform” rating and set a $42.00 price objective on shares of Verizon Communications in a research note on Monday, September 9th. The Goldman Sachs Group initiated coverage on Verizon Communications in a research note on Monday, July 1st. They set a “buy” rating and a $50.00 price objective on the stock. Finally, TD Cowen boosted their price objective on Verizon Communications from $48.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $45.66.

Verizon Communications Price Performance

VZ opened at $44.10 on Wednesday. The stock has a 50-day moving average price of $41.29 and a 200-day moving average price of $40.71. Verizon Communications Inc. has a 12-month low of $30.14 and a 12-month high of $45.05. The company has a current ratio of 0.63, a quick ratio of 0.60 and a debt-to-equity ratio of 1.29. The stock has a market capitalization of $185.61 billion, a P/E ratio of 16.45, a PEG ratio of 3.99 and a beta of 0.42.

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

Verizon Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be issued a $0.678 dividend. This is a boost from Verizon Communications’s previous quarterly dividend of $0.67. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.15%. The ex-dividend date of this dividend is Thursday, October 10th. Verizon Communications’s dividend payout ratio is presently 101.12%.

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).