Alethea Capital Management LLC Invests $2.44 Million in Verizon Communications Inc. (VZ)

Alethea Capital Management LLC acquired a new position in shares of Verizon Communications Inc. (NYSE:VZ) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 54,612 shares of the cell phone carrier’s stock, valued at approximately $2,438,000. Verizon Communications comprises approximately 1.4% of Alethea Capital Management LLC’s investment portfolio, making the stock its 25th biggest position.

Several other large investors have also modified their holdings of the stock. Whitnell & Co. boosted its holdings in Verizon Communications by 1.2% during the 2nd quarter. Whitnell & Co. now owns 10,316 shares of the cell phone carrier’s stock valued at $461,000 after acquiring an additional 125 shares during the period. Allegis Investment Advisors LLC boosted its holdings in Verizon Communications by 9.0% during the 1st quarter. Allegis Investment Advisors LLC now owns 59,067 shares of the cell phone carrier’s stock valued at $2,880,000 after acquiring an additional 4,898 shares during the period. Segantii Capital Management Ltd purchased a new position in Verizon Communications during the 1st quarter valued at about $6,094,000. Cascade Investment Advisors Inc. boosted its holdings in Verizon Communications by 0.4% during the 1st quarter. Cascade Investment Advisors Inc. now owns 33,945 shares of the cell phone carrier’s stock valued at $1,655,000 after acquiring an additional 125 shares during the period. Finally, Carret Asset Management LLC boosted its holdings in Verizon Communications by 1.5% during the 1st quarter. Carret Asset Management LLC now owns 177,172 shares of the cell phone carrier’s stock valued at $8,637,000 after acquiring an additional 2,606 shares during the period. 63.19% of the stock is owned by hedge funds and other institutional investors.

Verizon Communications Inc. (NYSE VZ) opened at $47.10 on Thursday. The stock has a market capitalization of $192,140.00, a P/E ratio of 12.32, a PEG ratio of 4.34 and a beta of 0.55. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 4.05. Verizon Communications Inc. has a twelve month low of $42.80 and a twelve month high of $54.83.

Verizon Communications (NYSE:VZ) last released its earnings results on Thursday, October 19th. The cell phone carrier reported $0.98 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.98. The business had revenue of $31.70 billion for the quarter, compared to analyst estimates of $31.45 billion. Verizon Communications had a return on equity of 58.66% and a net margin of 12.80%. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.01 earnings per share. sell-side analysts forecast that Verizon Communications Inc. will post 3.77 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th were issued a $0.59 dividend. The ex-dividend date of this dividend was Friday, October 6th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 5.01%. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.58. Verizon Communications’s payout ratio is presently 60.51%.

Several equities analysts have recently issued reports on the company. Robert W. Baird reiterated a “hold” rating and issued a $49.00 price objective on shares of Verizon Communications in a research note on Wednesday, October 4th. Macquarie reiterated a “hold” rating and issued a $52.00 price objective on shares of Verizon Communications in a research note on Sunday, October 22nd. KeyCorp reiterated a “hold” rating on shares of Verizon Communications in a research note on Saturday, October 21st. Bank of America Corporation set a $52.00 price objective on Verizon Communications and gave the company a “buy” rating in a research note on Friday, October 20th. Finally, SunTrust Banks, Inc. reiterated a “hold” rating and issued a $50.00 price objective on shares of Verizon Communications in a research note on Friday, October 20th. Two analysts have rated the stock with a sell rating, nineteen have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $51.25.

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In other news, EVP Craig L. Silliman sold 610 shares of the business’s stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $49.23, for a total value of $30,030.30. Following the transaction, the executive vice president now owns 6,599 shares of the company’s stock, valued at $324,868.77. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last three months, insiders sold 1,830 shares of company stock worth $89,365. Corporate insiders own 0.13% of the company’s stock.

Verizon Communications Profile

Verizon Communications Inc is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. Its segments include Wireless and Wireline. The Wireless segment offers communications products and services, including wireless voice and data services and equipment sales, to consumer, business and government customers across the United States.

Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

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