Duncker Streett & Co. Inc. Decreases Holdings in Verizon Communications Inc. (NYSE:VZ)

Duncker Streett & Co. Inc. cut its stake in shares of Verizon Communications Inc. (NYSE:VZGet Rating) by 10.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 41,472 shares of the cell phone carrier’s stock after selling 4,980 shares during the period. Duncker Streett & Co. Inc.’s holdings in Verizon Communications were worth $2,113,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in VZ. Canandaigua National Corp grew its position in shares of Verizon Communications by 23.8% during the 1st quarter. Canandaigua National Corp now owns 141,646 shares of the cell phone carrier’s stock valued at $7,215,000 after acquiring an additional 27,238 shares during the period. BOK Financial Private Wealth Inc. grew its position in shares of Verizon Communications by 36.6% during the 1st quarter. BOK Financial Private Wealth Inc. now owns 25,567 shares of the cell phone carrier’s stock valued at $1,302,000 after acquiring an additional 6,857 shares during the period. Wellington Shields & Co. LLC grew its position in shares of Verizon Communications by 6.1% during the 1st quarter. Wellington Shields & Co. LLC now owns 55,656 shares of the cell phone carrier’s stock valued at $2,835,000 after acquiring an additional 3,212 shares during the period. Vaughan David Investments LLC IL grew its position in shares of Verizon Communications by 0.9% during the 1st quarter. Vaughan David Investments LLC IL now owns 753,691 shares of the cell phone carrier’s stock valued at $38,393,000 after acquiring an additional 6,417 shares during the period. Finally, LWM Advisory Services LLC grew its position in shares of Verizon Communications by 46.6% during the 1st quarter. LWM Advisory Services LLC now owns 7,463 shares of the cell phone carrier’s stock valued at $383,000 after acquiring an additional 2,371 shares during the period. 63.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Craig L. Silliman sold 1,558 shares of the company’s stock in a transaction dated Monday, May 23rd. The shares were sold at an average price of $50.00, for a total transaction of $77,900.00. Following the sale, the executive vice president now directly owns 36,519 shares in the company, valued at approximately $1,825,950. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders have sold 4,674 shares of company stock worth $237,377. 0.02% of the stock is currently owned by corporate insiders.

Verizon Communications Price Performance

Shares of VZ traded up $0.26 during midday trading on Tuesday, hitting $44.80. 465,958 shares of the company traded hands, compared to its average volume of 21,829,402. The firm has a 50 day moving average of $49.26 and a 200-day moving average of $50.92. Verizon Communications Inc. has a 52 week low of $43.76 and a 52 week high of $56.20. The stock has a market cap of $188.15 billion, a price-to-earnings ratio of 8.93, a PEG ratio of 2.14 and a beta of 0.33. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.69 and a current ratio of 0.76.

Verizon Communications (NYSE:VZGet Rating) last released its quarterly earnings data on Friday, July 22nd. The cell phone carrier reported $1.31 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.01). Verizon Communications had a net margin of 15.48% and a return on equity of 26.95%. The company had revenue of $33.79 billion for the quarter, compared to the consensus estimate of $33.77 billion. During the same period last year, the company earned $1.37 EPS. The firm’s revenue for the quarter was up .1% on a year-over-year basis. On average, analysts forecast that Verizon Communications Inc. will post 5.2 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 1st. Stockholders of record on Friday, July 8th were given a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a dividend yield of 5.71%. The ex-dividend date was Thursday, July 7th. Verizon Communications’s dividend payout ratio is 51.30%.

Analyst Ratings Changes

VZ has been the subject of a number of recent research reports. The Goldman Sachs Group downgraded shares of Verizon Communications from a “buy” rating to a “neutral” rating and cut their price objective for the company from $61.00 to $55.00 in a research report on Monday, April 25th. Wolfe Research cut their price objective on shares of Verizon Communications from $60.00 to $51.00 and set a “peer perform” rating for the company in a research report on Thursday, June 2nd. Morgan Stanley dropped their target price on shares of Verizon Communications from $60.00 to $58.00 and set an “equal weight” rating for the company in a report on Monday, July 25th. Bank of America downgraded shares of Verizon Communications from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $64.00 to $51.00 in a report on Thursday, July 28th. Finally, Wells Fargo & Company dropped their target price on shares of Verizon Communications from $58.00 to $52.00 and set an “equal weight” rating for the company in a report on Friday, July 8th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $56.50.

About Verizon Communications

(Get Rating)

Verizon Communications Inc, through its subsidiaries, 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 comprising smart watches.

Featured Articles

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

Receive News & Ratings for Verizon Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verizon Communications and related companies with MarketBeat.com's FREE daily email newsletter.