SeaBridge Investment Advisors LLC Buys 13,601 Shares of Verizon Communications Inc. (NYSE:VZ)

SeaBridge Investment Advisors LLC raised its stake in shares of Verizon Communications Inc. (NYSE:VZGet Rating) by 104.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,646 shares of the cell phone carrier’s stock after acquiring an additional 13,601 shares during the period. SeaBridge Investment Advisors LLC’s holdings in Verizon Communications were worth $1,357,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Rinkey Investments purchased a new stake in shares of Verizon Communications during the 4th quarter valued at $27,000. Lansing Street Advisors purchased a new stake in shares of Verizon Communications during the 1st quarter valued at $35,000. Conrad Siegel Investment Advisors Inc. purchased a new stake in shares of Verizon Communications during the 1st quarter valued at $36,000. Gibson Wealth Advisors LLC purchased a new stake in Verizon Communications in the 4th quarter worth about $37,000. Finally, Morton Brown Family Wealth LLC increased its holdings in Verizon Communications by 109.2% in the 1st quarter. Morton Brown Family Wealth LLC now owns 726 shares of the cell phone carrier’s stock worth $37,000 after acquiring an additional 379 shares during the last quarter. 63.78% of the stock is owned by hedge funds and other institutional investors.

Verizon Communications Trading Up 1.2 %

Verizon Communications stock opened at $44.95 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.69 and a debt-to-equity ratio of 1.56. The business’s fifty day simple moving average is $49.40 and its two-hundred day simple moving average is $51.01. Verizon Communications Inc. has a 12 month low of $43.76 and a 12 month high of $56.20. The company has a market capitalization of $188.78 billion, a price-to-earnings ratio of 9.01, a price-to-earnings-growth ratio of 2.16 and a beta of 0.33.

Verizon Communications (NYSE:VZGet Rating) last announced its quarterly earnings results on Friday, July 22nd. The cell phone carrier reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). The business had revenue of $33.79 billion for the quarter, compared to the consensus estimate of $33.77 billion. Verizon Communications had a net margin of 15.48% and a return on equity of 26.95%. The company’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.37 earnings per share. As a group, equities analysts predict that Verizon Communications Inc. will post 5.2 earnings per share for the current fiscal year.

Verizon Communications Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 1st. Shareholders of record on Friday, July 8th were issued a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a yield of 5.70%. The ex-dividend date of this dividend was Thursday, July 7th. Verizon Communications’s dividend payout ratio is 51.30%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on VZ shares. Raymond James reissued an “outperform” rating and issued a $64.00 price objective on shares of Verizon Communications in a report on Thursday, July 7th. Morgan Stanley decreased their price objective on Verizon Communications from $60.00 to $58.00 and set an “equal weight” rating for the company in a report on Monday, July 25th. DZ Bank lowered Verizon Communications from a “hold” rating to a “sell” rating and set a $44.00 price objective for the company. in a report on Friday, April 29th. UBS Group reduced their target price on Verizon Communications from $57.00 to $47.00 and set a “neutral” rating for the company in a report on Monday, July 25th. Finally, Barclays lowered Verizon Communications from an “overweight” rating to an “equal weight” rating in a report on Friday, July 22nd. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $56.50.

Insider Buying and Selling at Verizon Communications

In other Verizon Communications news, EVP Craig L. Silliman sold 1,558 shares of the stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $51.42, for a total value of $80,112.36. Following the transaction, the executive vice president now owns 33,403 shares of the company’s stock, valued at $1,717,582.26. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders have sold 4,674 shares of company stock valued at $237,377. 0.10% of the stock is owned by company insiders.

Verizon Communications Company Profile

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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.

Further Reading

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

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