Curi RMB Capital LLC Has $12 Million Stake in Verizon Communications Inc. (NYSE:VZ)

Curi RMB Capital LLC cut its holdings in Verizon Communications Inc. (NYSE:VZ) by 2.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 267,247 shares of the cell phone carrier’s stock after selling 5,716 shares during the quarter. Curi RMB Capital LLC’s holdings in Verizon Communications were worth $12,002,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of VZ. Koesten Hirschmann & Crabtree INC. acquired a new stake in Verizon Communications during the 1st quarter worth $25,000. Capital Performance Advisors LLP acquired a new stake in shares of Verizon Communications during the third quarter worth $31,000. Accordant Advisory Group Inc increased its holdings in Verizon Communications by 137.6% in the third quarter. Accordant Advisory Group Inc now owns 777 shares of the cell phone carrier’s stock valued at $35,000 after purchasing an additional 450 shares during the last quarter. Mizuho Securities Co. Ltd. acquired a new position in Verizon Communications in the second quarter valued at about $32,000. Finally, MFA Wealth Advisors LLC acquired a new position in shares of Verizon Communications during the 2nd quarter worth about $33,000. Institutional investors and hedge funds own 62.06% of the company’s stock.

Verizon Communications Stock Down 0.7 %

VZ opened at $40.87 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.32. The stock’s fifty day simple moving average is $43.02 and its 200 day simple moving average is $41.41. Verizon Communications Inc. has a 1-year low of $35.84 and a 1-year high of $45.36. The stock has a market cap of $172.03 billion, a PE ratio of 17.61, a price-to-earnings-growth ratio of 2.94 and a beta of 0.43.

Verizon Communications (NYSE:VZ) last posted its earnings results on Tuesday, October 22nd. The cell phone carrier reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.01. The company had revenue of $33.30 billion during the quarter, compared to analysts’ expectations of $33.42 billion. Verizon Communications had a net margin of 7.30% and a return on equity of 20.05%. Verizon Communications’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter last year, the company posted $1.22 EPS. As a group, research analysts expect that Verizon Communications Inc. will post 4.61 earnings per share for the current year.

Verizon Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were issued a $0.678 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $2.71 dividend on an annualized basis and a yield of 6.64%. This is an increase from Verizon Communications’s previous quarterly dividend of $0.67. Verizon Communications’s payout ratio is currently 116.81%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. UBS Group upped their target price on shares of Verizon Communications from $43.00 to $44.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Citigroup boosted their target price on Verizon Communications from $47.00 to $49.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Bank of America raised their price target on Verizon Communications from $41.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Royal Bank of Canada boosted their price objective on Verizon Communications from $42.00 to $46.00 and gave the company a “sector perform” rating in a research report on Monday, September 23rd. Finally, Scotiabank raised their target price on shares of Verizon Communications from $46.50 to $47.25 and gave the stock a “sector perform” rating in a report on Friday, October 18th. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Verizon Communications has a consensus rating of “Moderate Buy” and a consensus price target of $46.37.

Verizon Communications 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).