Boston Common Asset Management LLC boosted its stake in Verizon Communications Inc. (NYSE:VZ) by 0.2% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 244,401 shares of the cell phone carrier’s stock after buying an additional 408 shares during the period. Boston Common Asset Management LLC’s holdings in Verizon Communications were worth $13,647,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. State Street Corp boosted its stake in Verizon Communications by 0.5% in the first quarter. State Street Corp now owns 159,643,137 shares of the cell phone carrier’s stock valued at $8,633,504,000 after buying an additional 744,122 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in Verizon Communications by 1.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 108,614,434 shares of the cell phone carrier’s stock valued at $5,873,869,000 after buying an additional 1,582,173 shares during the period. Wellington Management Group LLP boosted its stake in Verizon Communications by 1.7% in the first quarter. Wellington Management Group LLP now owns 71,688,221 shares of the cell phone carrier’s stock valued at $3,876,898,000 after buying an additional 1,174,260 shares during the period. Geode Capital Management LLC boosted its stake in Verizon Communications by 2.0% in the first quarter. Geode Capital Management LLC now owns 33,346,023 shares of the cell phone carrier’s stock valued at $1,799,729,000 after buying an additional 656,483 shares during the period. Finally, TIAA CREF Investment Management LLC boosted its stake in Verizon Communications by 0.5% in the first quarter. TIAA CREF Investment Management LLC now owns 22,446,955 shares of the cell phone carrier’s stock valued at $1,213,931,000 after buying an additional 119,497 shares during the period. Institutional investors and hedge funds own 63.47% of the company’s stock.

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

Shares of Verizon Communications Inc. (NYSE:VZ) traded down 0.58% during mid-day trading on Tuesday, reaching $49.90. 11,737,902 shares of the company traded hands. The firm has a 50-day moving average price of $52.03 and a 200 day moving average price of $52.71. The firm has a market capitalization of $203.41 billion, a price-to-earnings ratio of 14.10 and a beta of 0.30. Verizon Communications Inc. has a 52 week low of $43.79 and a 52 week high of $56.95.

Verizon Communications (NYSE:VZ) last issued its earnings results on Tuesday, July 26th. The cell phone carrier reported $0.94 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.02. Verizon Communications had a net margin of 11.10% and a return on equity of 87.41%. The company had revenue of $30.53 billion for the quarter, compared to analysts’ expectations of $30.95 billion. During the same period in the prior year, the business earned $1.04 EPS. The firm’s quarterly revenue was down 5.3% on a year-over-year basis. On average, analysts anticipate that Verizon Communications Inc. will post $3.89 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, October 7th will be issued a dividend of $0.0125 per share. This represents a $0.05 annualized dividend and a yield of 0.10%. The ex-dividend date of this dividend is Wednesday, October 5th. Verizon Communications’s payout ratio is 65.25%.

Several analysts have recently weighed in on the stock. Jefferies Group restated a “hold” rating on shares of Verizon Communications in a research report on Saturday, August 6th. Deutsche Bank AG reaffirmed a “hold” rating and set a $52.00 target price on shares of Verizon Communications in a report on Friday, July 15th. JPMorgan Chase & Co. increased their target price on shares of Verizon Communications from $50.00 to $56.00 and gave the company a “neutral” rating in a report on Wednesday, July 27th. Zacks Investment Research lowered shares of Verizon Communications from a “hold” rating to a “sell” rating in a report on Monday, June 27th. Finally, Hilliard Lyons lowered shares of Verizon Communications from a “buy” rating to a “neutral” rating and set a $53.00 target price on the stock. in a report on Wednesday, July 27th. Twenty-four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $54.44.

In other Verizon Communications news, EVP Craig L. Silliman sold 672 shares of the stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $52.76, for a total transaction of $35,454.72. Following the completion of the sale, the executive vice president now directly owns 10,526 shares of the company’s stock, valued at $555,351.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.10% of the company’s stock.

About Verizon Communications

Verizon Communications Inc (Verizon) is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. The Company offers voice, data and video services and solutions on its wireless and wireline networks.

5 Day Chart for NYSE:VZ

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