Winfield Associates Inc. lessened its position in Verizon Communications Inc. (NYSE:VZ) by 1.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,344 shares of the cell phone carrier’s stock after selling 110 shares during the period. Winfield Associates Inc.’s holdings in Verizon Communications were worth $328,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Franklin Parlapiano Turner & Welch LLC acquired a new position in Verizon Communications in the 1st quarter worth about $136,000. American Beacon Advisors Inc. acquired a new position in Verizon Communications in the 1st quarter worth about $140,000. Proficio Capital Partners LLC increased its holdings in Verizon Communications by 139.8% in the 1st quarter. Proficio Capital Partners LLC now owns 3,158 shares of the cell phone carrier’s stock worth $142,000 after purchasing an additional 1,841 shares in the last quarter. Camarda Financial Advisors LLC increased its holdings in Verizon Communications by 11.3% in the 2nd quarter. Camarda Financial Advisors LLC now owns 3,749 shares of the cell phone carrier’s stock worth $167,000 after purchasing an additional 382 shares in the last quarter. Finally, Feltz Wealth PLAN Inc. acquired a new position in Verizon Communications in the 1st quarter worth about $184,000. 62.24% of the stock is owned by institutional investors and hedge funds.

In other news, EVP Craig L. Silliman sold 610 shares of the business’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $48.65, for a total value of $29,676.50. Following the sale, the executive vice president now directly owns 7,209 shares of the company’s stock, valued at approximately $350,717.85. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last three months, insiders sold 1,830 shares of company stock worth $88,828. Insiders own 0.13% of the company’s stock.

Verizon Communications Inc. (NYSE:VZ) opened at 47.86 on Monday. Verizon Communications Inc. has a one year low of $42.80 and a one year high of $54.83. The firm has a 50-day moving average price of $48.46 and a 200 day moving average price of $47.01. The company has a market cap of $195.24 billion, a price-to-earnings ratio of 12.30 and a beta of 0.56.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Thursday, July 27th. The cell phone carrier reported $0.96 EPS for the quarter, hitting analysts’ consensus estimates of $0.96. Verizon Communications had a return on equity of 63.06% and a net margin of 12.88%. The firm had revenue of $30.55 billion for the quarter, compared to analysts’ expectations of $29.84 billion. During the same period in the previous year, the firm posted $0.94 EPS. The business’s revenue for the quarter was up .1% compared to the same quarter last year. Equities analysts expect that Verizon Communications Inc. will post $3.76 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th will be given a $0.59 dividend. This is a boost from Verizon Communications’s previous quarterly dividend of $0.58. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.93%. The ex-dividend date of this dividend is Friday, October 6th. Verizon Communications’s payout ratio is currently 60.51%.

A number of equities analysts have issued reports on the company. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $48.00 target price on shares of Verizon Communications in a report on Sunday, July 9th. Zacks Investment Research cut Verizon Communications from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. TheStreet upgraded Verizon Communications from a “c+” rating to a “b-” rating in a research report on Tuesday, August 8th. Robert W. Baird reiterated a “hold” rating and issued a $49.00 price target on shares of Verizon Communications in a research report on Wednesday, October 4th. Finally, Vetr upgraded Verizon Communications from a “buy” rating to a “strong-buy” rating and set a $50.65 price target on the stock in a research report on Wednesday, July 5th. Two equities research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $52.86.

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Verizon Communications Company Profile

Verizon Communications Inc is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. Its segments include Wireless and Wireline. The Wireless segment offers communications products and services, including wireless voice and data services and equipment sales, to consumer, business and government customers across the United States.

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

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