Nkcfo LLC Acquires New Stake in Verizon Communications Inc. (NYSE:VZ)

Nkcfo LLC purchased a new position in Verizon Communications Inc. (NYSE:VZ) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 7,000 shares of the cell phone carrier’s stock, valued at approximately $407,000.

Several other institutional investors have also recently added to or reduced their stakes in VZ. Heathbridge Capital Management Ltd. increased its holdings in Verizon Communications by 20.8% during the 1st quarter. Heathbridge Capital Management Ltd. now owns 553,275 shares of the cell phone carrier’s stock worth $32,173,000 after purchasing an additional 95,425 shares during the last quarter. State of Michigan Retirement System increased its holdings in shares of Verizon Communications by 89.6% in the 1st quarter. State of Michigan Retirement System now owns 3,655,535 shares of the cell phone carrier’s stock worth $212,569,000 after acquiring an additional 1,728,000 shares during the period. Dumont & Blake Investment Advisors LLC increased its holdings in shares of Verizon Communications by 3.4% in the 1st quarter. Dumont & Blake Investment Advisors LLC now owns 19,168 shares of the cell phone carrier’s stock worth $1,115,000 after acquiring an additional 637 shares during the period. Vantage Investment Partners LLC increased its holdings in shares of Verizon Communications by 1.3% in the 1st quarter. Vantage Investment Partners LLC now owns 149,906 shares of the cell phone carrier’s stock worth $8,717,000 after acquiring an additional 1,964 shares during the period. Finally, Excalibur Management Corp increased its holdings in shares of Verizon Communications by 4.2% in the 1st quarter. Excalibur Management Corp now owns 115,779 shares of the cell phone carrier’s stock worth $6,733,000 after acquiring an additional 4,690 shares during the period. Institutional investors own 64.85% of the company’s stock.

Several research firms have commented on VZ. Bank of America reissued a “buy” rating and set a $64.00 target price on shares of Verizon Communications in a research note on Thursday, March 11th. Credit Suisse Group reduced their price objective on shares of Verizon Communications from $61.00 to $59.00 and set a “neutral” rating for the company in a research report on Tuesday, January 19th. Tigress Financial upgraded shares of Verizon Communications from a “neutral” rating to a “buy” rating in a research report on Tuesday, March 30th. Moffett Nathanson reiterated a “neutral” rating on shares of Verizon Communications in a report on Monday, May 3rd. Finally, Scotiabank cut shares of Verizon Communications from an “outperform” rating to a “sector perform” rating in a report on Thursday, February 25th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Verizon Communications presently has a consensus rating of “Hold” and an average price target of $62.50.

In other Verizon Communications news, EVP Craig L. Silliman sold 1,555 shares of the firm’s stock in a transaction that occurred on Tuesday, May 4th. The shares were sold at an average price of $57.98, for a total transaction of $90,158.90. Following the completion of the transaction, the executive vice president now owns 34,687 shares in the company, valued at approximately $2,011,152.26. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Tami A. Erwin sold 35,000 shares of the firm’s stock in a transaction that occurred on Monday, May 3rd. The stock was sold at an average price of $58.26, for a total transaction of $2,039,100.00. Following the sale, the chief executive officer now directly owns 23,647 shares of the company’s stock, valued at approximately $1,377,674.22. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,665 shares of company stock valued at $2,306,731. 0.07% of the stock is owned by company insiders.

VZ opened at $58.54 on Wednesday. Verizon Communications Inc. has a 12-month low of $52.85 and a 12-month high of $61.95. The stock has a market cap of $242.36 billion, a price-to-earnings ratio of 12.70, a PEG ratio of 3.54 and a beta of 0.44. The business has a 50 day moving average of $57.97 and a 200-day moving average of $57.87. The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 1.66.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Tuesday, April 20th. The cell phone carrier reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.02. The company had revenue of $32.87 billion during the quarter, compared to analysts’ expectations of $32.47 billion. Verizon Communications had a return on equity of 32.15% and a net margin of 14.76%. Verizon Communications’s revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.26 EPS. As a group, analysts expect that Verizon Communications Inc. will post 4.77 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, May 3rd. Stockholders of record on Friday, April 9th were issued a $0.6275 dividend. The ex-dividend date was Thursday, April 8th. This represents a $2.51 dividend on an annualized basis and a dividend yield of 4.29%. Verizon Communications’s dividend payout ratio (DPR) is currently 52.18%.

Verizon Communications Company Profile

Verizon Communications Inc offers communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. Its Consumer segment provides postpaid and prepaid service plans; internet access on notebook computers and tablets; wireless equipment, including smartphones and other handsets; and wireless-enabled internet devices, such as tablets, and other wireless-enabled connected devices, such as smart watches.

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

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