Mizuho Securities USA LLC Sells 61,907 Shares of Verizon Communications Inc. (NYSE:VZ)

Key Points

• Mizuho Securities USA LLC decreased its stake in Verizon Communications by 15.5% during the first quarter, now holding 337,070 shares valued at approximately $15.29 million.
• Verizon's recent quarterly earnings report showed a net margin of 13.28% and an EPS of $1.22, surpassing analysts' estimates by $0.03.
• The company declared a quarterly dividend of $0.6775 per share, reflecting an annualized payout of $2.71 and a yield of 6.3%.

Mizuho Securities USA LLC trimmed its holdings in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 15.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 337,070 shares of the cell phone carrier's stock after selling 61,907 shares during the period. Mizuho Securities USA LLC's holdings in Verizon Communications were worth $15,289,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Bernard Wealth Management Corp. boosted its holdings in shares of Verizon Communications by 81.0% during the first quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier's stock worth $25,000 after purchasing an additional 243 shares during the period. Cherry Tree Wealth Management LLC boosted its holdings in shares of Verizon Communications by 71.8% during the first quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier's stock worth $26,000 after purchasing an additional 244 shares during the period. Garde Capital Inc. purchased a new stake in shares of Verizon Communications during the first quarter worth about $26,000. Accent Capital Management LLC purchased a new stake in shares of Verizon Communications during the first quarter worth about $30,000. Finally, Mattson Financial Services LLC boosted its holdings in shares of Verizon Communications by 114.6% during the fourth quarter. Mattson Financial Services LLC now owns 777 shares of the cell phone carrier's stock worth $31,000 after purchasing an additional 415 shares during the period. 62.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Morgan Stanley increased their target price on shares of Verizon Communications from $47.00 to $48.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 22nd. Tigress Financial increased their target price on shares of Verizon Communications from $55.00 to $56.00 and gave the stock a "buy" rating in a report on Monday, April 28th. Scotiabank increased their target price on shares of Verizon Communications from $48.50 to $49.00 and gave the stock a "sector perform" rating in a report on Wednesday, April 23rd. Wall Street Zen upgraded shares of Verizon Communications from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Finally, Wells Fargo & Company increased their price target on shares of Verizon Communications from $42.00 to $43.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 10th. Eleven analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $47.35.

Verizon Communications Stock Up 0.4%

Shares of NYSE VZ traded up $0.17 on Friday, reaching $43.12. 13,052,485 shares of the company's stock traded hands, compared to its average volume of 19,669,312. Verizon Communications Inc. has a 12 month low of $37.58 and a 12 month high of $47.35. The business's 50 day simple moving average is $42.69 and its two-hundred day simple moving average is $42.83. The company has a market cap of $181.81 billion, a price-to-earnings ratio of 10.05, a price-to-earnings-growth ratio of 3.33 and a beta of 0.36. The company has a quick ratio of 0.60, a current ratio of 0.64 and a debt-to-equity ratio of 1.19.

Verizon Communications (NYSE:VZ - Get Free Report) last announced its quarterly earnings results on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.03. The company had revenue of $34.50 billion during the quarter, compared to the consensus estimate of $33.47 billion. Verizon Communications had a net margin of 13.28% and a return on equity of 19.61%. The firm's quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.15 earnings per share. As a group, equities research analysts forecast that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were given a dividend of $0.6775 per share. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $2.71 annualized dividend and a dividend yield of 6.3%. Verizon Communications's dividend payout ratio (DPR) is 63.17%.

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).