Mckinley Capital Management LLC Delaware Boosts Stake in Verizon Communications Inc. (NYSE:VZ)

Mckinley Capital Management LLC Delaware boosted its position in Verizon Communications Inc. (NYSE:VZ) by 23.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,940 shares of the cell phone carrier’s stock after buying an additional 3,836 shares during the quarter. Mckinley Capital Management LLC Delaware’s holdings in Verizon Communications were worth $1,121,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Daiwa SB Investments Ltd. grew its stake in shares of Verizon Communications by 120.0% in the fourth quarter. Daiwa SB Investments Ltd. now owns 880 shares of the cell phone carrier’s stock worth $49,000 after acquiring an additional 480 shares during the last quarter. SeaBridge Investment Advisors LLC grew its stake in shares of Verizon Communications by 506.0% in the fourth quarter. SeaBridge Investment Advisors LLC now owns 1,018 shares of the cell phone carrier’s stock worth $57,000 after acquiring an additional 850 shares during the last quarter. Cascade Investment Advisors Inc. grew its stake in shares of Verizon Communications by 21.5% in the fourth quarter. Cascade Investment Advisors Inc. now owns 1,033 shares of the cell phone carrier’s stock worth $58,000 after acquiring an additional 183 shares during the last quarter. Advisors Preferred LLC purchased a new stake in shares of Verizon Communications in the fourth quarter worth $66,000. Finally, Stevens First Principles Investment Advisors grew its stake in shares of Verizon Communications by 743.2% in the fourth quarter. Stevens First Principles Investment Advisors now owns 1,248 shares of the cell phone carrier’s stock worth $70,000 after acquiring an additional 1,100 shares during the last quarter. 65.51% of the stock is owned by institutional investors and hedge funds.

VZ has been the topic of several recent analyst reports. UBS Group cut Verizon Communications from a “buy” rating to a “neutral” rating and set a $57.70 price objective on the stock. in a research report on Thursday, May 30th. They noted that the move was a valuation call. Zacks Investment Research cut Verizon Communications from a “buy” rating to a “hold” rating in a research report on Thursday, May 16th. Goldman Sachs Group reissued a “buy” rating and issued a $65.00 target price on shares of Verizon Communications in a research report on Tuesday, April 23rd. Bank of America set a $64.00 target price on Verizon Communications and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Finally, Royal Bank of Canada reissued a “neutral” rating and issued a $57.00 target price on shares of Verizon Communications in a research report on Tuesday, April 23rd. Ten analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $58.97.

NYSE:VZ traded down $0.47 during trading hours on Monday, reaching $56.66. The stock had a trading volume of 10,655,662 shares, compared to its average volume of 14,303,920. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.87 and a quick ratio of 0.83. Verizon Communications Inc. has a 52 week low of $49.70 and a 52 week high of $61.58. The company’s 50 day moving average price is $57.55. The company has a market capitalization of $236.03 billion, a PE ratio of 12.03, a PEG ratio of 2.83 and a beta of 0.51.

Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Tuesday, April 23rd. The cell phone carrier reported $1.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.17 by $0.03. The business had revenue of $32.13 billion for the quarter, compared to the consensus estimate of $32.13 billion. Verizon Communications had a return on equity of 35.40% and a net margin of 12.20%. The company’s revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.17 EPS. Sell-side analysts anticipate that Verizon Communications Inc. will post 4.75 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be issued a $0.6025 dividend. This represents a $2.41 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date of this dividend is Tuesday, July 9th. Verizon Communications’s dividend payout ratio (DPR) is 51.17%.

In other Verizon Communications news, EVP Craig L. Silliman sold 1,349 shares of Verizon Communications stock in a transaction on Friday, April 26th. The stock was sold at an average price of $56.06, for a total transaction of $75,624.94. Following the completion of the sale, the executive vice president now directly owns 28,077 shares of the company’s stock, valued at approximately $1,573,996.62. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Anthony T. Skiadas sold 6,134 shares of Verizon Communications stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $57.11, for a total value of $350,312.74. Following the sale, the senior vice president now directly owns 20,000 shares of the company’s stock, valued at $1,142,200. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,181 shares of company stock valued at $584,243. Company insiders own 0.03% of the company’s stock.

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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