Tributary Capital Management LLC Sells 548 Shares of Verizon Communications Inc. (NYSE:VZ)

Tributary Capital Management LLC trimmed its holdings in Verizon Communications Inc. (NYSE:VZ) by 4.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,855 shares of the cell phone carrier’s stock after selling 548 shares during the period. Tributary Capital Management LLC’s holdings in Verizon Communications were worth $489,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Alliance Wealth Advisors LLC boosted its stake in shares of Verizon Communications by 1.4% in the second quarter. Alliance Wealth Advisors LLC now owns 17,760 shares of the cell phone carrier’s stock worth $732,000 after acquiring an additional 241 shares during the period. Sawgrass Asset Management LLC lifted its holdings in Verizon Communications by 1.2% in the 2nd quarter. Sawgrass Asset Management LLC now owns 21,568 shares of the cell phone carrier’s stock worth $889,000 after purchasing an additional 250 shares in the last quarter. Fermata Advisors LLC boosted its stake in Verizon Communications by 5.0% in the 2nd quarter. Fermata Advisors LLC now owns 5,383 shares of the cell phone carrier’s stock worth $222,000 after purchasing an additional 254 shares during the period. Private Portfolio Partners LLC grew its holdings in Verizon Communications by 0.9% during the 4th quarter. Private Portfolio Partners LLC now owns 27,457 shares of the cell phone carrier’s stock valued at $1,035,000 after buying an additional 255 shares in the last quarter. Finally, BKM Wealth Management LLC grew its holdings in Verizon Communications by 7.4% during the 1st quarter. BKM Wealth Management LLC now owns 3,715 shares of the cell phone carrier’s stock valued at $156,000 after buying an additional 257 shares in the last quarter. Institutional investors own 62.06% of the company’s stock.

Verizon Communications Stock Performance

Shares of NYSE:VZ opened at $41.21 on Friday. The company has a current ratio of 0.63, a quick ratio of 0.60 and a debt-to-equity ratio of 1.29. Verizon Communications Inc. has a 12 month low of $30.14 and a 12 month high of $43.42. The company has a market capitalization of $173.46 billion, a price-to-earnings ratio of 15.38, a PEG ratio of 3.72 and a beta of 0.41. The firm’s 50-day moving average is $40.71 and its 200 day moving average is $40.43.

Verizon Communications (NYSE:VZ) last released its earnings results on Monday, July 22nd. The cell phone carrier reported $1.15 EPS for the quarter, meeting analysts’ consensus estimates of $1.15. Verizon Communications had a return on equity of 20.10% and a net margin of 8.38%. The firm had revenue of $32.80 billion for the quarter, compared to analysts’ expectations of $33.05 billion. During the same quarter in the prior year, the firm posted $1.21 earnings per share. The company’s quarterly revenue was up .6% on a year-over-year basis. Research analysts predict that Verizon Communications Inc. will post 4.58 EPS for the current year.

Verizon Communications Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 6.45%. The ex-dividend date of this dividend was Wednesday, July 10th. Verizon Communications’s dividend payout ratio is currently 99.25%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on VZ shares. TD Cowen upped their target price on shares of Verizon Communications from $48.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. The Goldman Sachs Group started coverage on Verizon Communications in a research report on Monday, July 1st. They set a “buy” rating and a $50.00 price objective for the company. StockNews.com upgraded Verizon Communications from a “hold” rating to a “buy” rating in a research report on Saturday, May 4th. Royal Bank of Canada reissued a “sector perform” rating and set a $42.00 price target on shares of Verizon Communications in a research note on Tuesday, July 23rd. Finally, Tigress Financial lifted their price objective on Verizon Communications from $50.00 to $52.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $45.78.

Verizon Communications Company Profile

Verizon Communications Inc, through its subsidiaries, engages in the provision of communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. It operates in two segments, Verizon Consumer Group (Consumer) and Verizon Business Group (Business).