Carmichael Hill & Associates Inc. Trims Position in Verizon Communications Inc. (NYSE:VZ)

Carmichael Hill & Associates Inc. decreased its holdings in Verizon Communications Inc. (NYSE:VZ) by 3.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,534 shares of the cell phone carrier’s stock after selling 1,064 shares during the quarter. Carmichael Hill & Associates Inc.’s holdings in Verizon Communications were worth $1,342,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Taylor Hoffman Wealth Management lifted its position in shares of Verizon Communications by 32.9% in the 4th quarter. Taylor Hoffman Wealth Management now owns 9,353 shares of the cell phone carrier’s stock worth $353,000 after purchasing an additional 2,314 shares during the period. Leo Wealth LLC purchased a new stake in Verizon Communications in the fourth quarter worth about $3,346,000. Gateway Investment Advisers LLC lifted its holdings in Verizon Communications by 15.4% in the second quarter. Gateway Investment Advisers LLC now owns 283,160 shares of the cell phone carrier’s stock worth $11,678,000 after buying an additional 37,732 shares during the period. Windle Wealth LLC boosted its position in Verizon Communications by 0.8% during the 4th quarter. Windle Wealth LLC now owns 164,242 shares of the cell phone carrier’s stock valued at $6,192,000 after acquiring an additional 1,270 shares in the last quarter. Finally, Mosley Wealth Management purchased a new position in shares of Verizon Communications during the 4th quarter worth approximately $433,000. Institutional investors own 62.06% of the company’s stock.

Verizon Communications Stock Performance

VZ stock traded up $0.13 during midday trading on Wednesday, reaching $43.06. 4,390,873 shares of the company’s stock traded hands, compared to its average volume of 18,298,754. 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 52-week low of $30.14 and a 52-week high of $43.42. The stock has a market cap of $181.25 billion, a P/E ratio of 16.08, a PEG ratio of 3.81 and a beta of 0.41. The stock’s 50-day moving average is $40.91 and its 200 day moving average is $40.51.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Monday, July 22nd. The cell phone carrier reported $1.15 EPS for the quarter, hitting the consensus estimate of $1.15. The firm had revenue of $32.80 billion for the quarter, compared to the consensus estimate of $33.05 billion. Verizon Communications had a return on equity of 20.10% and a net margin of 8.38%. The business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter last year, the company earned $1.21 earnings per share. As a group, analysts anticipate that Verizon Communications Inc. will post 4.57 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on VZ. Royal Bank of Canada restated a “sector perform” rating and set a $42.00 price target on shares of Verizon Communications in a research report on Tuesday, July 23rd. TD Cowen lifted their price target on Verizon Communications from $48.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. JPMorgan Chase & Co. reduced their price objective on shares of Verizon Communications from $46.00 to $45.00 and set a “neutral” rating for the company in a research note on Tuesday, July 23rd. The Goldman Sachs Group started coverage on shares of Verizon Communications in a report on Monday, July 1st. They set a “buy” rating and a $50.00 price target on the stock. Finally, Scotiabank boosted their price objective on shares of Verizon Communications from $45.50 to $46.50 and gave the stock a “sector perform” rating in a report on Wednesday, July 10th. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target 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).