R Squared Ltd Sells 13,190 Shares of Verizon Communications Inc. (NYSE:VZ)

Key Points

• R Squared Ltd sold 13,190 shares of Verizon Communications, reducing its stake by 55.5%, and now holds 10,590 shares valued at approximately $480,000.
• Verizon reported earnings of $1.22 per share for the last quarter, surpassing expectations, with revenues reaching $34.50 billion, a 5.2% increase from the previous year.
• The company declared a quarterly dividend of $0.6775, indicating an annual yield of 6.3% and a payout ratio of 63.17%.

R Squared Ltd trimmed its stake in Verizon Communications Inc. (NYSE:VZ - Free Report) by 55.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,590 shares of the cell phone carrier's stock after selling 13,190 shares during the period. R Squared Ltd's holdings in Verizon Communications were worth $480,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. lifted its position in shares of Verizon Communications by 81.0% in the 1st 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 increased its stake in Verizon Communications by 71.8% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier's stock valued at $26,000 after purchasing an additional 244 shares in the last quarter. Garde Capital Inc. acquired a new position in Verizon Communications during the 1st quarter valued at approximately $26,000. Mattson Financial Services LLC increased its stake in Verizon Communications by 114.6% during the 4th quarter. Mattson Financial Services LLC now owns 777 shares of the cell phone carrier's stock valued at $31,000 after purchasing an additional 415 shares in the last quarter. Finally, Capital A Wealth Management LLC acquired a new stake in shares of Verizon Communications in the fourth quarter worth $32,000. 62.06% of the stock is owned by hedge funds and other institutional investors.

Verizon Communications Trading Up 0.2%

Shares of VZ stock opened at $42.84 on Friday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.60 and a current ratio of 0.64. The stock has a market capitalization of $180.63 billion, a P/E ratio of 9.99, a price-to-earnings-growth ratio of 3.30 and a beta of 0.36. The company has a 50 day moving average price of $42.75 and a 200 day moving average price of $42.66. Verizon Communications Inc. has a fifty-two week low of $37.58 and a fifty-two week high of $47.35.

Verizon Communications (NYSE:VZ - Get Free Report) last announced its quarterly earnings data on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share for the quarter, beating analysts' consensus estimates of $1.19 by $0.03. The firm had revenue of $34.50 billion during the quarter, compared to analysts' expectations of $33.47 billion. Verizon Communications had a net margin of 13.28% and a return on equity of 19.61%. The business's quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.15 earnings per share. Equities research analysts predict 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 paid a $0.6775 dividend. The ex-dividend date was Thursday, July 10th. This represents a $2.71 dividend on an annualized basis and a yield of 6.3%. Verizon Communications's payout ratio is currently 63.17%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on VZ shares. Royal Bank Of Canada increased their price objective on shares of Verizon Communications from $45.00 to $46.00 and gave the stock a "sector perform" rating in a research note on Tuesday, July 22nd. Morgan Stanley increased their price objective on shares of Verizon Communications from $47.00 to $48.00 and gave the company an "equal weight" rating in a report on Tuesday, July 22nd. JPMorgan Chase & Co. raised their price target on shares of Verizon Communications from $47.00 to $49.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Scotiabank raised their price target on shares of Verizon Communications from $48.50 to $49.00 and gave the stock a "sector perform" rating in a research note on Wednesday, April 23rd. Finally, Bank of America raised their price objective on shares of Verizon Communications from $45.00 to $49.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Eleven analysts have rated the stock with a hold rating, seven have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, Verizon Communications currently has a consensus rating of "Moderate Buy" and a consensus price target of $47.35.

Insider Transactions at Verizon Communications

In related news, CEO Kyle Malady sold 9,000 shares of the stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $44.10, for a total value of $396,900.00. Following the transaction, the chief executive officer directly owned 10,008 shares of the company's stock, valued at $441,352.80. This trade represents a 47.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.10% of the stock is owned by corporate insiders.

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).

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