Kapstone Financial Advisors LLC Lowers Holdings in Verizon Communications Inc. (NYSE:VZ)

Kapstone Financial Advisors LLC lowered its position in Verizon Communications Inc. (NYSE:VZ) by 7.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,749 shares of the cell phone carrier’s stock after selling 668 shares during the quarter. Kapstone Financial Advisors LLC’s holdings in Verizon Communications were worth $320,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in VZ. Koesten Hirschmann & Crabtree INC. acquired a new position in shares of Verizon Communications in the 1st quarter valued at $25,000. Vermillion & White Wealth Management Group LLC purchased a new position in Verizon Communications during the 4th quarter worth $29,000. Mizuho Securities Co. Ltd. purchased a new position in Verizon Communications during the 2nd quarter worth $32,000. MFA Wealth Advisors LLC purchased a new position in Verizon Communications during the 2nd quarter worth $33,000. Finally, Vima LLC purchased a new position in Verizon Communications during the 4th quarter worth $36,000. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. TD Cowen upped their target price on shares of Verizon Communications from $48.00 to $51.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Scotiabank upped their target price on shares of Verizon Communications from $45.50 to $46.50 and gave the company a “sector perform” rating in a report on Wednesday, July 10th. Royal Bank of Canada reiterated a “sector perform” rating and set a $42.00 price objective on shares of Verizon Communications in a report on Tuesday, July 23rd. The Goldman Sachs Group started coverage on shares of Verizon Communications in a report on Monday, July 1st. They issued a “buy” rating and a $50.00 price target on the stock. Finally, JPMorgan Chase & Co. cut their price target on shares of Verizon Communications from $46.00 to $45.00 and set a “neutral” rating on the stock in a report on Tuesday, July 23rd. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.78.

Verizon Communications Stock Down 1.2 %

VZ stock traded down $0.51 during mid-day trading on Thursday, hitting $40.97. The stock had a trading volume of 3,514,740 shares, compared to its average volume of 18,369,502. Verizon Communications Inc. has a 1-year low of $30.14 and a 1-year high of $43.42. The company has a fifty day moving average of $40.92 and a 200 day moving average of $40.52. The company has a current ratio of 0.63, a quick ratio of 0.60 and a debt-to-equity ratio of 1.29. The stock has a market capitalization of $172.45 billion, a price-to-earnings ratio of 15.46, a PEG ratio of 3.81 and a beta of 0.41.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Monday, July 22nd. The cell phone carrier reported $1.15 earnings per share 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 business had revenue of $32.80 billion for the quarter, compared to the consensus estimate of $33.05 billion. During the same period last year, the business earned $1.21 EPS. The firm’s revenue was up .6% compared to the same quarter last year. On average, equities analysts expect that Verizon Communications Inc. will post 4.57 EPS for the current fiscal year.

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).