Strategic Advisors LLC lowered its position in Verizon Communications Inc. (NYSE:VZ) by 0.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 132,474 shares of the cell phone carrier’s stock after selling 732 shares during the period. Verizon Communications comprises 3.9% of Strategic Advisors LLC’s holdings, making the stock its 3rd largest position. Strategic Advisors LLC’s holdings in Verizon Communications were worth $6,886,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Alpha Cubed Investments LLC boosted its stake in Verizon Communications by 22.9% in the third quarter. Alpha Cubed Investments LLC now owns 163,660 shares of the cell phone carrier’s stock worth $8,507,000 after buying an additional 30,535 shares in the last quarter. Bartlett & Co. LLC boosted its stake in Verizon Communications by 3.6% in the third quarter. Bartlett & Co. LLC now owns 521,754 shares of the cell phone carrier’s stock worth $27,121,000 after buying an additional 17,920 shares in the last quarter. Roffman Miller Associates Inc. PA boosted its stake in Verizon Communications by 2.0% in the third quarter. Roffman Miller Associates Inc. PA now owns 262,117 shares of the cell phone carrier’s stock worth $13,625,000 after buying an additional 5,125 shares in the last quarter. iAB Financial Bank boosted its stake in Verizon Communications by 4.7% in the third quarter. iAB Financial Bank now owns 58,694 shares of the cell phone carrier’s stock worth $3,051,000 after buying an additional 2,655 shares in the last quarter. Finally, Security National Trust Co. boosted its stake in Verizon Communications by 8.1% in the third quarter. Security National Trust Co. now owns 82,763 shares of the cell phone carrier’s stock worth $4,301,000 after buying an additional 6,203 shares in the last quarter. Institutional investors own 62.41% of the company’s stock.

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

Verizon Communications Inc. (NYSE:VZ) traded up 0.89% during mid-day trading on Monday, reaching $51.12. The company had a trading volume of 15,926,265 shares. The stock has a market capitalization of $208.40 billion, a PE ratio of 14.90 and a beta of 0.38. Verizon Communications Inc. has a one year low of $43.79 and a one year high of $56.95. The company’s 50-day moving average is $48.54 and its 200-day moving average is $51.87.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Thursday, October 20th. The cell phone carrier reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.02. The firm earned $30.90 billion during the quarter, compared to analyst estimates of $31.08 billion. Verizon Communications had a return on equity of 78.75% and a net margin of 10.97%. The company’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.04 EPS. Equities research analysts anticipate that Verizon Communications Inc. will post $3.90 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 1st. Shareholders of record on Friday, October 7th were issued a dividend of $0.0125 per share. This represents a $0.05 dividend on an annualized basis and a yield of 0.10%. The ex-dividend date of this dividend was Wednesday, October 5th. Verizon Communications’s dividend payout ratio is currently 67.15%.

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A number of analysts have weighed in on VZ shares. Drexel Hamilton upgraded Verizon Communications from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a research report on Monday, October 24th. Vetr cut Verizon Communications from a “strong-buy” rating to a “buy” rating and set a $57.60 price target on the stock. in a research report on Monday, October 3rd. HSBC reiterated a “hold” rating and issued a $54.00 price target on shares of Verizon Communications in a research report on Wednesday, September 28th. Jefferies Group reiterated a “hold” rating on shares of Verizon Communications in a research report on Friday, September 2nd. Finally, Nomura reiterated a “hold” rating and issued a $47.00 price target on shares of Verizon Communications in a research report on Monday, September 12th. One analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and nine have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $54.61.

In other news, EVP Craig L. Silliman sold 668 shares of the company’s stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $49.29, for a total value of $32,925.72. Following the completion of the transaction, the executive vice president now directly owns 6,047 shares of the company’s stock, valued at $298,056.63. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Craig L. Silliman sold 672 shares of the company’s stock in a transaction that occurred on Monday, September 26th. The shares were sold at an average price of $52.40, for a total value of $35,212.80. Following the completion of the transaction, the executive vice president now directly owns 9,854 shares of the company’s stock, valued at $516,349.60. The disclosure for this sale can be found here. 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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