Jump Financial LLC Sells 10,814 Shares of Verizon Communications Inc. (NYSE:VZ)

Jump Financial LLC lessened its holdings in Verizon Communications Inc. (NYSE:VZ) by 40.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,077 shares of the cell phone carrier’s stock after selling 10,814 shares during the quarter. Jump Financial LLC’s holdings in Verizon Communications were worth $901,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of VZ. E Fund Management Co. Ltd. bought a new stake in Verizon Communications during the first quarter worth $423,000. Relative Value Partners Group LLC raised its position in Verizon Communications by 12.2% during the first quarter. Relative Value Partners Group LLC now owns 5,983 shares of the cell phone carrier’s stock worth $348,000 after acquiring an additional 650 shares in the last quarter. Chilton Capital Management LLC raised its position in Verizon Communications by 36.2% during the first quarter. Chilton Capital Management LLC now owns 14,400 shares of the cell phone carrier’s stock worth $837,000 after acquiring an additional 3,830 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC raised its position in Verizon Communications by 332.1% during the first quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 62,975 shares of the cell phone carrier’s stock worth $3,662,000 after acquiring an additional 48,400 shares in the last quarter. Finally, Bowen Hanes & Co. Inc. raised its position in Verizon Communications by 6.8% during the first quarter. Bowen Hanes & Co. Inc. now owns 108,543 shares of the cell phone carrier’s stock worth $6,312,000 after acquiring an additional 6,950 shares in the last quarter. 63.65% of the stock is currently owned by hedge funds and other institutional investors.

In other news, EVP Craig L. Silliman sold 1,554 shares of the firm’s stock in a transaction that occurred on Wednesday, August 4th. The shares were sold at an average price of $55.57, for a total value of $86,355.78. Following the sale, the executive vice president now directly owns 30,023 shares in the company, valued at approximately $1,668,378.11. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Kumara Guru Gowrappan sold 14,077 shares of the firm’s stock in a transaction that occurred on Wednesday, August 11th. The shares were sold at an average price of $55.56, for a total transaction of $782,118.12. The disclosure for this sale can be found here. Insiders have sold 18,739 shares of company stock worth $1,039,150 over the last quarter. Corporate insiders own 0.10% of the company’s stock.

VZ stock opened at $51.35 on Thursday. The company has a debt-to-equity ratio of 1.93, a quick ratio of 0.85 and a current ratio of 0.89. The company’s 50-day simple moving average is $54.62 and its 200 day simple moving average is $56.21. Verizon Communications Inc. has a 52 week low of $50.86 and a 52 week high of $61.95. The company has a market capitalization of $212.59 billion, a PE ratio of 10.63, a price-to-earnings-growth ratio of 2.89 and a beta of 0.47.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Tuesday, July 20th. The cell phone carrier reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.07. The firm had revenue of $33.76 billion for the quarter, compared to the consensus estimate of $32.73 billion. Verizon Communications had a net margin of 15.05% and a return on equity of 30.00%. The business’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.18 earnings per share. On average, analysts forecast that Verizon Communications Inc. will post 5.31 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 1st. Shareholders of record on Friday, October 8th will be paid a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a yield of 4.99%. This is an increase from Verizon Communications’s previous quarterly dividend of $0.63. The ex-dividend date is Thursday, October 7th. Verizon Communications’s dividend payout ratio is presently 52.24%.

VZ has been the topic of several research analyst reports. Cowen increased their price objective on shares of Verizon Communications from $66.00 to $68.00 and gave the company an “outperform” rating in a research report on Thursday, July 22nd. Tigress Financial reissued a “buy” rating and issued a $67.00 price objective on shares of Verizon Communications in a research report on Wednesday, July 7th. Royal Bank of Canada initiated coverage on shares of Verizon Communications in a research report on Thursday, July 22nd. They issued a “hold” rating and a $57.00 price objective on the stock. Credit Suisse Group increased their price objective on shares of Verizon Communications from $59.00 to $60.00 and gave the company a “neutral” rating in a research report on Thursday, July 22nd. Finally, Loop Capital initiated coverage on shares of Verizon Communications in a research report on Monday, September 20th. They issued a “hold” rating and a $57.00 price objective on the stock. One analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $60.57.

Verizon Communications Company Profile

Verizon Communications, Inc is a holding company, which engages in the provision of communications, information, and entertainment products and services to consumers, businesses, and governmental agencies. It operates through the Verizon Consumer Group (Consumer) and Verizon Business Group (Business) segments.

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

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