CSat Investment Advisory L.P. Increases Stake in Verizon Communications Inc. (NYSE:VZ)

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CSat Investment Advisory L.P. lifted its stake in Verizon Communications Inc. (NYSE:VZ) by 67.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 24,051 shares of the cell phone carrier’s stock after purchasing an additional 9,702 shares during the quarter. CSat Investment Advisory L.P.’s holdings in Verizon Communications were worth $1,374,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in VZ. Centaurus Financial Inc. raised its position in Verizon Communications by 18.2% during the 1st quarter. Centaurus Financial Inc. now owns 1,476 shares of the cell phone carrier’s stock worth $25,000 after buying an additional 227 shares during the last quarter. Krane Funds Advisors LLC purchased a new position in Verizon Communications in the 2nd quarter valued at $25,000. Global Trust Asset Management LLC raised its holdings in shares of Verizon Communications by 271.2% during the 2nd quarter. Global Trust Asset Management LLC now owns 19,115 shares of the cell phone carrier’s stock worth $26,000 after acquiring an additional 13,966 shares during the period. Shine Investment Advisory Services Inc. purchased a new position in shares of Verizon Communications during the 2nd quarter worth $29,000. Finally, Evolution Wealth Advisors LLC purchased a new stake in Verizon Communications in the 2nd quarter valued at about $31,000. 65.67% of the stock is owned by hedge funds and other institutional investors.

NYSE VZ traded up $0.31 during trading on Friday, hitting $60.29. The stock had a trading volume of 18,072,630 shares, compared to its average volume of 10,416,934. The company has a market capitalization of $247.86 billion, a PE ratio of 12.80, a PEG ratio of 2.88 and a beta of 0.52. The company has a quick ratio of 0.84, a current ratio of 0.87 and a debt-to-equity ratio of 2.12. The firm has a 50 day moving average price of $57.39 and a 200 day moving average price of $57.56. Verizon Communications Inc. has a twelve month low of $52.28 and a twelve month high of $61.58.

Verizon Communications (NYSE:VZ) last released its earnings results on Thursday, August 1st. The cell phone carrier reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.03. The company had revenue of $32.07 billion during the quarter, compared to the consensus estimate of $32.42 billion. Verizon Communications had a return on equity of 34.91% and a net margin of 12.08%. Verizon Communications’s revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.20 EPS. On average, sell-side analysts anticipate that Verizon Communications Inc. will post 4.81 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be given a dividend of $0.615 per share. The ex-dividend date is Wednesday, October 9th. This is an increase from Verizon Communications’s previous quarterly dividend of $0.60. This represents a $2.46 dividend on an annualized basis and a dividend yield of 4.08%. Verizon Communications’s payout ratio is currently 51.17%.

In related news, EVP Craig L. Silliman sold 1,349 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $56.01, for a total value of $75,557.49. Following the completion of the transaction, the executive vice president now directly owns 22,681 shares of the company’s stock, valued at $1,270,362.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Tami A. Erwin sold 17,000 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $57.75, for a total value of $981,750.00. Following the completion of the transaction, the chief executive officer now directly owns 853 shares of the company’s stock, valued at $49,260.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,047 shares of company stock valued at $1,212,038. Corporate insiders own 0.03% of the company’s stock.

Several analysts recently issued reports on VZ shares. Zacks Investment Research upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $62.00 price objective on the stock in a report on Monday, September 2nd. Oppenheimer upgraded shares of Verizon Communications from a “market perform” rating to an “outperform” rating and set a $70.00 price objective on the stock in a report on Tuesday, August 27th. Citigroup set a $62.00 price objective on shares of Verizon Communications and gave the company a “hold” rating in a report on Tuesday, September 10th. Nomura set a $65.00 price objective on shares of Verizon Communications and gave the company a “buy” rating in a report on Wednesday. Finally, UBS Group lowered shares of Verizon Communications from a “buy” rating to a “neutral” rating and set a $57.70 price objective on the stock. in a report on Thursday, May 30th. They noted that the move was a valuation call. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $61.30.

About Verizon Communications

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; international travel wireless services; and network access services to deliver various Internet of Things products and services, as well as offers digital advertising and digital media services platforms.

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

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