Bonness Enterprises Inc. held its position in Verizon Communications Inc. (NYSE:VZ) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,239 shares of the cell phone carrier’s stock at the end of the third quarter. Verizon Communications accounts for approximately 1.9% of Bonness Enterprises Inc.’s holdings, making the stock its 18th largest position. Bonness Enterprises Inc.’s holdings in Verizon Communications were worth $2,247,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in VZ. Peachtree Investment Advisors Inc. increased its position in shares of Verizon Communications by 0.7% in the third quarter. Peachtree Investment Advisors Inc. now owns 26,902 shares of the cell phone carrier’s stock worth $1,398,000 after buying an additional 175 shares in the last quarter. Stuart Chaussee & Associates Inc. increased its position in shares of Verizon Communications by 8.6% in the third quarter. Stuart Chaussee & Associates Inc. now owns 12,893 shares of the cell phone carrier’s stock worth $670,000 after buying an additional 1,019 shares in the last quarter. F&V Capital Management LLC increased its position in shares of Verizon Communications by 2.3% in the third quarter. F&V Capital Management LLC now owns 152,653 shares of the cell phone carrier’s stock worth $7,935,000 after buying an additional 3,395 shares in the last quarter. Independent Portfolio Consultants Inc. increased its position in shares of Verizon Communications by 18.1% in the third quarter. Independent Portfolio Consultants Inc. now owns 12,629 shares of the cell phone carrier’s stock worth $656,000 after buying an additional 1,940 shares in the last quarter. Finally, Stillwater Investment Management LLC increased its position in shares of Verizon Communications by 8.2% in the third quarter. Stillwater Investment Management LLC now owns 50,690 shares of the cell phone carrier’s stock worth $2,635,000 after buying an additional 3,850 shares in the last quarter. 62.41% of the stock is owned by institutional investors.

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

Verizon Communications Inc. (NYSE:VZ) traded down 0.31% during trading on Tuesday, reaching $50.96. The company had a trading volume of 11,532,765 shares. The firm has a market capitalization of $207.75 billion, a price-to-earnings ratio of 14.85 and a beta of 0.38. The stock has a 50 day moving average price of $48.57 and a 200 day moving average price of $51.88. Verizon Communications Inc. has a 12 month low of $43.79 and a 12 month high of $56.95.

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

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

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VZ has been the subject of several recent analyst reports. Pacific Crest restated an “equal weight” rating on shares of Verizon Communications in a research note on Sunday, October 23rd. Drexel Hamilton upgraded Verizon Communications from a “hold” rating to a “buy” rating and set a $54.00 target price for the company in a research note on Monday, October 24th. Vetr cut Verizon Communications from a “strong-buy” rating to a “buy” rating and set a $58.40 target price for the company. in a research note on Thursday, September 1st. Goldman Sachs Group Inc. restated a “neutral” rating and set a $51.00 target price on shares of Verizon Communications in a research note on Sunday, October 23rd. Finally, Robert W. Baird restated a “neutral” rating and set a $52.00 target price (down previously from $55.00) on shares of Verizon Communications in a research note on Sunday, October 23rd. One analyst has rated the stock with a sell rating, twenty-two have given a hold rating and nine have issued a buy rating to the company. Verizon Communications presently has a consensus rating of “Hold” and an average price target of $54.61.

In related news, EVP Craig L. Silliman sold 672 shares of Verizon Communications stock in a transaction on Wednesday, October 26th. The stock was sold at an average price of $47.76, for a total value of $32,094.72. Following the transaction, the executive vice president now directly owns 9,182 shares in the company, valued at approximately $438,532.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Craig L. Silliman sold 668 shares of Verizon Communications stock in a transaction 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 owns 6,047 shares in the company, valued at $298,056.63. The disclosure for this sale can be found here. 0.10% of the stock is owned by corporate insiders.

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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