Skba Capital Management LLC Has $6.36 Million Holdings in Verizon Communications Inc. (VZ)

Skba Capital Management LLC decreased its position in shares of Verizon Communications Inc. (NYSE:VZ) by 1.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 126,500 shares of the cell phone carrier’s stock after selling 1,300 shares during the quarter. Skba Capital Management LLC’s holdings in Verizon Communications were worth $6,364,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Cedar Hill Associates LLC grew its position in shares of Verizon Communications by 7.7% during the 2nd quarter. Cedar Hill Associates LLC now owns 13,539 shares of the cell phone carrier’s stock worth $681,000 after buying an additional 968 shares during the period. Bailard Inc. grew its position in shares of Verizon Communications by 1.0% during the 2nd quarter. Bailard Inc. now owns 99,356 shares of the cell phone carrier’s stock worth $4,999,000 after buying an additional 977 shares during the period. Live Your Vision LLC grew its position in shares of Verizon Communications by 24.0% during the 2nd quarter. Live Your Vision LLC now owns 5,166 shares of the cell phone carrier’s stock worth $265,000 after buying an additional 1,000 shares during the period. Canal Capital Management LLC grew its position in shares of Verizon Communications by 2.5% during the 2nd quarter. Canal Capital Management LLC now owns 41,657 shares of the cell phone carrier’s stock worth $2,096,000 after buying an additional 1,008 shares during the period. Finally, Palo Capital Inc. grew its position in shares of Verizon Communications by 0.9% during the 2nd quarter. Palo Capital Inc. now owns 112,404 shares of the cell phone carrier’s stock worth $5,655,000 after buying an additional 1,012 shares during the period. Hedge funds and other institutional investors own 64.34% of the company’s stock.

NYSE VZ opened at $58.46 on Friday. Verizon Communications Inc. has a 12-month low of $43.97 and a 12-month high of $59.20. The company has a debt-to-equity ratio of 1.90, a current ratio of 0.97 and a quick ratio of 0.93. The firm has a market capitalization of $237.98 billion, a P/E ratio of 12.95, a price-to-earnings-growth ratio of 2.51 and a beta of 0.46.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Tuesday, October 23rd. The cell phone carrier reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.03. Verizon Communications had a net margin of 24.71% and a return on equity of 35.50%. The business had revenue of $32.61 billion during the quarter, compared to the consensus estimate of $32.45 billion. During the same quarter last year, the firm posted $0.98 EPS. Verizon Communications’s revenue was up 2.8% compared to the same quarter last year. On average, sell-side analysts expect that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 1st. Investors of record on Wednesday, October 10th were given a $0.6025 dividend. The ex-dividend date was Tuesday, October 9th. This represents a $2.41 annualized dividend and a yield of 4.12%. This is an increase from Verizon Communications’s previous quarterly dividend of $0.59. Verizon Communications’s dividend payout ratio (DPR) is presently 64.44%.

Several analysts have recently commented on the stock. Moffett Nathanson reaffirmed a “neutral” rating and set a $56.00 price objective on shares of Verizon Communications in a research report on Tuesday, September 4th. ValuEngine raised shares of Verizon Communications from a “hold” rating to a “buy” rating in a research report on Wednesday, October 24th. Zacks Investment Research downgraded shares of Verizon Communications from a “buy” rating to a “hold” rating in a research report on Monday, July 30th. Bank of America reaffirmed a “buy” rating and set a $58.00 price objective on shares of Verizon Communications in a research report on Monday, October 22nd. Finally, Robert W. Baird raised their price objective on shares of Verizon Communications from $52.00 to $53.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 25th. Eight analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Verizon Communications currently has a consensus rating of “Buy” and an average target price of $55.93.

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Verizon Communications Company Profile

Verizon Communications Inc, through its subsidiaries, offers communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company's Wireless segment provides wireless voice and data services; Internet access on various notebook computers and tablets; multimedia, business-focused, and location-based services, as well as international travel services; and network access services to deliver various Internet of Things products and services.

Read More: Compound Annual Growth Rate (CAGR)

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

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