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Adviser Investments LLC Has $865,000 Stock Holdings in Verizon Communications Inc. (NYSE:VZ)

Adviser Investments LLC trimmed its holdings in Verizon Communications Inc. (NYSE:VZGet Rating) by 20.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,045 shares of the cell phone carrier’s stock after selling 4,473 shares during the quarter. Adviser Investments LLC’s holdings in Verizon Communications were worth $865,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Rinkey Investments acquired a new position in Verizon Communications during the 4th quarter worth approximately $27,000. Cordant Inc. acquired a new position in Verizon Communications during the 1st quarter worth approximately $30,000. Lansing Street Advisors acquired a new position in Verizon Communications during the 1st quarter worth approximately $35,000. Conrad Siegel Investment Advisors Inc. acquired a new position in Verizon Communications during the 1st quarter worth approximately $36,000. Finally, Gibson Wealth Advisors LLC acquired a new position in Verizon Communications during the 4th quarter worth approximately $37,000. 62.83% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Verizon Communications

In related news, EVP Craig L. Silliman sold 1,558 shares of the company’s stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $51.42, for a total value of $80,112.36. Following the transaction, the executive vice president now owns 33,403 shares in the company, valued at $1,717,582.26. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.10% of the stock is owned by company insiders.

Verizon Communications Stock Performance

VZ stock opened at $39.52 on Friday. The firm has a market cap of $165.97 billion, a PE ratio of 7.92, a P/E/G ratio of 1.85 and a beta of 0.36. The company has a quick ratio of 0.69, a current ratio of 0.76 and a debt-to-equity ratio of 1.56. The business has a 50 day moving average of $43.77 and a 200-day moving average of $48.38. Verizon Communications Inc. has a 12-month low of $39.11 and a 12-month high of $55.51.

Verizon Communications (NYSE:VZGet Rating) last posted its quarterly earnings data on Friday, July 22nd. The cell phone carrier reported $1.31 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.03). Verizon Communications had a net margin of 15.48% and a return on equity of 26.95%. The firm had revenue of $33.79 billion during the quarter, compared to analysts’ expectations of $33.77 billion. During the same quarter in the previous year, the company posted $1.37 EPS. Verizon Communications’s revenue for the quarter was up .1% on a year-over-year basis. As a group, sell-side analysts expect that Verizon Communications Inc. will post 5.19 earnings per share for the current year.

Verizon Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Friday, October 7th will be paid a $0.6525 dividend. This is an increase from Verizon Communications’s previous quarterly dividend of $0.64. The ex-dividend date is Thursday, October 6th. This represents a $2.61 annualized dividend and a yield of 6.60%. Verizon Communications’s dividend payout ratio is presently 51.30%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. UBS Group dropped their price target on Verizon Communications from $57.00 to $47.00 and set a “neutral” rating on the stock in a research note on Monday, July 25th. Scotiabank downgraded Verizon Communications from a “sector outperform” rating to a “sector perform” rating in a research note on Friday, July 22nd. Morgan Stanley decreased their price objective on Verizon Communications from $60.00 to $58.00 and set an “equal weight” rating for the company in a report on Monday, July 25th. Cowen decreased their price objective on Verizon Communications from $71.00 to $64.00 and set an “outperform” rating for the company in a report on Monday, July 25th. Finally, Royal Bank of Canada decreased their price objective on Verizon Communications from $57.00 to $54.00 and set a “sector perform” rating for the company in a report on Wednesday, June 22nd. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Verizon Communications has a consensus rating of “Hold” and an average price target of $55.61.

Verizon Communications Profile

(Get Rating)

Verizon Communications Inc, through its subsidiaries, offers communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. Its Consumer segment provides postpaid and prepaid service plans; internet access on notebook computers and tablets; wireless equipment, including smartphones and other handsets; and wireless-enabled internet devices, such as tablets, and other wireless-enabled connected devices comprising smart watches.

Further Reading

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