Lido Advisors LLC Sells 2,095 Shares of Verizon Communications Inc. $VZ

Lido Advisors LLC lowered its position in shares of Verizon Communications Inc. (NYSE:VZ) by 0.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 302,785 shares of the cell phone carrier’s stock after selling 2,095 shares during the period. Lido Advisors LLC’s holdings in Verizon Communications were worth $13,102,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bulwark Capital Corp acquired a new stake in shares of Verizon Communications during the second quarter valued at about $25,000. Advantage Trust Co raised its holdings in Verizon Communications by 549.5% in the 2nd quarter. Advantage Trust Co now owns 591 shares of the cell phone carrier’s stock valued at $26,000 after buying an additional 500 shares during the last quarter. 1 North Wealth Services LLC acquired a new stake in Verizon Communications during the 1st quarter worth approximately $29,000. Accent Capital Management LLC acquired a new stake in Verizon Communications during the 1st quarter worth approximately $30,000. Finally, Global Trust Asset Management LLC grew its holdings in Verizon Communications by 222.2% during the 2nd quarter. Global Trust Asset Management LLC now owns 725 shares of the cell phone carrier’s stock worth $31,000 after acquiring an additional 500 shares during the last quarter. Institutional investors and hedge funds own 62.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on VZ. BNP Paribas Exane downgraded shares of Verizon Communications from an “outperform” rating to a “neutral” rating and set a $44.00 price target for the company. in a research note on Tuesday, October 21st. Royal Bank Of Canada lowered their target price on Verizon Communications from $46.00 to $44.00 and set a “sector perform” rating for the company in a research report on Thursday, October 30th. BNP Paribas lowered Verizon Communications from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 21st. Weiss Ratings cut Verizon Communications from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 24th. Finally, TD Cowen lowered their price objective on Verizon Communications from $56.00 to $51.00 and set a “buy” rating for the company in a research report on Thursday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and thirteen have issued a Hold rating to the company. According to data from MarketBeat.com, Verizon Communications has a consensus rating of “Hold” and a consensus price target of $47.41.

Verizon Communications Price Performance

Verizon Communications stock opened at $41.05 on Monday. The stock has a market capitalization of $173.08 billion, a price-to-earnings ratio of 8.77, a PEG ratio of 3.03 and a beta of 0.35. Verizon Communications Inc. has a 52-week low of $37.58 and a 52-week high of $47.35. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.60 and a current ratio of 0.74. The stock’s 50 day moving average price is $40.97 and its two-hundred day moving average price is $42.44.

Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Wednesday, October 29th. The cell phone carrier reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.02. Verizon Communications had a net margin of 14.43% and a return on equity of 19.31%. The company had revenue of $33.82 billion during the quarter, compared to analyst estimates of $34.19 billion. During the same quarter in the previous year, the business posted $1.19 EPS. Verizon Communications’s revenue for the quarter was up 1.5% compared to the same quarter last year. On average, equities analysts predict that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Friday, October 10th were issued a dividend of $0.69 per share. This is an increase from Verizon Communications’s previous quarterly dividend of $0.68. This represents a $2.76 annualized dividend and a dividend yield of 6.7%. The ex-dividend date was Friday, October 10th. Verizon Communications’s dividend payout ratio (DPR) is currently 58.97%.

About Verizon Communications

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).