Verizon Communications Inc. $VZ is Game Creek Capital LP’s 7th Largest Position

Game Creek Capital LP boosted its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 65.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 139,500 shares of the cell phone carrier’s stock after acquiring an additional 55,000 shares during the quarter. Verizon Communications comprises 2.6% of Game Creek Capital LP’s investment portfolio, making the stock its 7th biggest holding. Game Creek Capital LP’s holdings in Verizon Communications were worth $6,036,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of VZ. Hudock Inc. lifted its holdings in shares of Verizon Communications by 0.6% during the second quarter. Hudock Inc. now owns 39,842 shares of the cell phone carrier’s stock worth $1,724,000 after purchasing an additional 238 shares during the period. Providence Capital Advisors LLC lifted its holdings in Verizon Communications by 0.3% in the first quarter. Providence Capital Advisors LLC now owns 80,178 shares of the cell phone carrier’s stock valued at $3,637,000 after acquiring an additional 240 shares during the period. Wright Investors Service Inc. boosted its holdings in Verizon Communications by 1.2% during the second quarter. Wright Investors Service Inc. now owns 21,255 shares of the cell phone carrier’s stock worth $920,000 after buying an additional 243 shares in the last quarter. Camden National Bank grew its holdings in shares of Verizon Communications by 4.6% in the 2nd quarter. Camden National Bank now owns 5,666 shares of the cell phone carrier’s stock worth $245,000 after acquiring an additional 248 shares during the period. Finally, Monetary Management Group Inc. grew its holdings in Verizon Communications by 0.8% in the first quarter. Monetary Management Group Inc. now owns 30,150 shares of the cell phone carrier’s stock valued at $1,368,000 after purchasing an additional 250 shares during the last quarter. Institutional investors and hedge funds own 62.06% of the company’s stock.

Verizon Communications Stock Up 1.7%

Shares of Verizon Communications stock opened at $40.91 on Friday. Verizon Communications Inc. has a 1-year low of $37.58 and a 1-year high of $47.35. The company has a market capitalization of $172.49 billion, a PE ratio of 8.74, a P/E/G ratio of 3.59 and a beta of 0.33. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.74 and a quick ratio of 0.69. The business has a 50-day moving average of $40.42 and a 200-day moving average of $42.25.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Wednesday, October 29th. The cell phone carrier reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.02. Verizon Communications had a return on equity of 19.31% and a net margin of 14.43%.The firm had revenue of $33.82 billion during the quarter, compared to analyst estimates of $34.19 billion. During the same quarter last year, the firm earned $1.19 EPS. Verizon Communications’s quarterly revenue was up 1.5% on a year-over-year basis. As a group, equities analysts forecast that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 12th will be paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 6.7%. The ex-dividend date is Monday, January 12th. Verizon Communications’s payout ratio is 58.97%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. BNP Paribas downgraded Verizon Communications from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 21st. The Goldman Sachs Group started coverage on shares of Verizon Communications in a research note on Tuesday, September 2nd. They set a “buy” rating and a $49.00 price objective for the company. Royal Bank Of Canada reduced their target price on Verizon Communications from $46.00 to $44.00 and set a “sector perform” rating on the stock in a report on Thursday, October 30th. JPMorgan Chase & Co. dropped their price objective on shares of Verizon Communications from $49.00 to $47.00 and set a “neutral” rating for the company in a research report on Thursday, October 30th. Finally, Wall Street Zen downgraded Verizon Communications from a “buy” rating to a “hold” rating in a research report on Friday, September 26th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $47.31.

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).