Sawtooth Solutions LLC Has $1.92 Million Stake in Verizon Communications Inc. (NYSE:VZ)

Sawtooth Solutions LLC decreased its holdings in Verizon Communications Inc. (NYSE:VZ) by 88.7% during the first quarter, Holdings Channel.com reports. The firm owned 33,050 shares of the cell phone carrier’s stock after selling 260,085 shares during the period. Sawtooth Solutions LLC’s holdings in Verizon Communications were worth $1,922,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of VZ. Brand Asset Management Group Inc. increased its holdings in shares of Verizon Communications by 151.4% in the 1st quarter. Brand Asset Management Group Inc. now owns 543 shares of the cell phone carrier’s stock valued at $32,000 after purchasing an additional 327 shares during the period. Syverson Strege & Co increased its holdings in Verizon Communications by 809.5% in the first quarter. Syverson Strege & Co now owns 573 shares of the cell phone carrier’s stock worth $33,000 after buying an additional 510 shares during the last quarter. Capital Directions Investment Advisors LLC increased its holdings in Verizon Communications by 100.0% in the fourth quarter. Capital Directions Investment Advisors LLC now owns 600 shares of the cell phone carrier’s stock worth $36,000 after buying an additional 300 shares during the last quarter. Curi Capital acquired a new position in Verizon Communications in the fourth quarter worth approximately $40,000. Finally, Alpha DNA Investment Management LLC acquired a new position in Verizon Communications in the fourth quarter worth approximately $40,000. Institutional investors own 64.42% of the company’s stock.

Shares of VZ traded up $0.11 during mid-day trading on Wednesday, hitting $56.48. The company’s stock had a trading volume of 390,113 shares, compared to its average volume of 18,745,004. The firm has a market capitalization of $233.83 billion, a price-to-earnings ratio of 12.38, a PEG ratio of 3.90 and a beta of 0.47. Verizon Communications Inc. has a one year low of $52.85 and a one year high of $61.95. The business has a 50-day moving average of $57.39. The company has a debt-to-equity ratio of 2.06, a current ratio of 1.02 and a quick ratio of 0.99.

Verizon Communications (NYSE:VZ) last issued its earnings results on Tuesday, April 20th. The cell phone carrier reported $1.31 EPS for the quarter, topping the consensus estimate of $1.29 by $0.02. The firm 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 30.10% and a net margin of 14.58%. Verizon Communications’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period last year, the business earned $1.26 earnings per share. Research analysts expect that Verizon Communications Inc. will post 5.08 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, August 2nd. Investors of record on Friday, July 9th will be given a $0.627 dividend. The ex-dividend date of this dividend is Thursday, July 8th. This represents a $2.51 annualized dividend and a yield of 4.44%. Verizon Communications’s dividend payout ratio (DPR) is currently 51.22%.

In other Verizon Communications news, CEO Tami A. Erwin sold 35,000 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 23,647 shares in the company, valued at $1,377,674.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Craig L. Silliman sold 1,555 shares of the stock in a transaction on Friday, June 4th. The stock was sold at an average price of $56.90, for a total value of $88,479.50. Following the transaction, the executive vice president now owns 33,132 shares of the company’s stock, valued at $1,885,210.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 82,903 shares of company stock valued at $4,877,955. 0.10% of the stock is owned by company insiders.

A number of equities analysts recently commented on VZ shares. Tigress Financial upgraded Verizon Communications from a “neutral” rating to a “buy” rating in a report on Wednesday, March 24th. Scotiabank cut Verizon Communications from an “outperform” rating to a “sector perform” rating in a research report on Thursday, February 25th. Cowen reaffirmed a “buy” rating on shares of Verizon Communications in a research report on Wednesday. Moffett Nathanson reaffirmed a “neutral” rating on shares of Verizon Communications in a research report on Monday, May 3rd. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Verizon Communications in a research report on Wednesday, March 3rd. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Verizon Communications presently has a consensus rating of “Hold” and an average price target of $62.46.

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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