Curbstone Financial Management Corp Trims Holdings in Verizon Communications Inc. (NYSE:VZ)

Curbstone Financial Management Corp trimmed its position in shares of Verizon Communications Inc. (NYSE:VZFree Report) by 4.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 38,796 shares of the cell phone carrier’s stock after selling 1,890 shares during the quarter. Curbstone Financial Management Corp’s holdings in Verizon Communications were worth $1,628,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. LFA Lugano Financial Advisors SA boosted its holdings in shares of Verizon Communications by 627.8% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 655 shares of the cell phone carrier’s stock valued at $25,000 after acquiring an additional 565 shares during the last quarter. Criterion Capital Advisors LLC purchased a new stake in shares of Verizon Communications during the 4th quarter valued at about $25,000. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Verizon Communications during the 4th quarter valued at about $29,000. Morton Brown Family Wealth LLC boosted its holdings in shares of Verizon Communications by 130.1% during the 4th quarter. Morton Brown Family Wealth LLC now owns 863 shares of the cell phone carrier’s stock valued at $33,000 after acquiring an additional 488 shares during the last quarter. Finally, Vima LLC purchased a new stake in shares of Verizon Communications during the 4th quarter valued at about $36,000. 62.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on VZ shares. StockNews.com raised shares of Verizon Communications from a “hold” rating to a “buy” rating in a report on Saturday, May 4th. Redburn Atlantic upgraded shares of Verizon Communications from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $33.00 to $39.00 in a research note on Friday, March 22nd. Wells Fargo & Company lowered their price objective on shares of Verizon Communications from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 23rd. Royal Bank of Canada increased their price objective on shares of Verizon Communications from $36.00 to $40.00 and gave the stock a “sector perform” rating in a research note on Tuesday, April 2nd. Finally, Oppenheimer reiterated an “outperform” rating and issued a $48.00 price objective on shares of Verizon Communications in a research note on Tuesday, April 23rd. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $44.77.

View Our Latest Report on Verizon Communications

Verizon Communications Stock Performance

NYSE VZ traded up $0.25 on Thursday, reaching $40.33. 6,198,071 shares of the stock were exchanged, compared to its average volume of 18,674,906. Verizon Communications Inc. has a one year low of $30.14 and a one year high of $43.42. The firm has a market capitalization of $169.76 billion, a PE ratio of 15.02, a PEG ratio of 2.91 and a beta of 0.42. The company’s 50-day simple moving average is $39.96 and its two-hundred day simple moving average is $39.91. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 1.42.

Verizon Communications (NYSE:VZGet Free Report) last released its quarterly earnings data on Monday, April 22nd. The cell phone carrier reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.03. The firm had revenue of $33 billion for the quarter, compared to analysts’ expectations of $33.23 billion. Verizon Communications had a net margin of 8.44% and a return on equity of 20.41%. The company’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter last year, the business posted $1.20 earnings per share. Analysts expect that Verizon Communications Inc. will post 4.59 EPS for the current fiscal year.

Verizon Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 6.60%. The ex-dividend date of this dividend is Wednesday, July 10th. Verizon Communications’s payout ratio is currently 99.25%.

Verizon Communications Profile

(Free Report)

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).

Further Reading

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Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

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