High Pointe Capital Management LLC cut its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 1.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,640 shares of the cell phone carrier’s stock after selling 200 shares during the period. High Pointe Capital Management LLC’s holdings in Verizon Communications were worth $788,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Oakmont Partners LLC lifted its stake in Verizon Communications by 0.3% during the second quarter. Oakmont Partners LLC now owns 6,391 shares of the cell phone carrier’s stock worth $285,000 after purchasing an additional 22 shares during the last quarter. Conservest Capital Advisors Inc. increased its holdings in shares of Verizon Communications by 0.5% during the second quarter. Conservest Capital Advisors Inc. now owns 5,024 shares of the cell phone carrier’s stock worth $224,000 after buying an additional 23 shares in the last quarter. Nottingham Advisors Inc. increased its holdings in shares of Verizon Communications by 0.5% during the second quarter. Nottingham Advisors Inc. now owns 6,425 shares of the cell phone carrier’s stock worth $287,000 after buying an additional 35 shares in the last quarter. Camden National Bank increased its holdings in shares of Verizon Communications by 0.7% during the second quarter. Camden National Bank now owns 4,972 shares of the cell phone carrier’s stock worth $222,000 after buying an additional 37 shares in the last quarter. Finally, Cobblestone Capital Advisors LLC NY increased its holdings in shares of Verizon Communications by 0.3% during the first quarter. Cobblestone Capital Advisors LLC NY now owns 19,401 shares of the cell phone carrier’s stock worth $946,000 after buying an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 63.38% of the company’s stock.

In other news, EVP Craig L. Silliman sold 610 shares of the stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $48.62, for a total transaction of $29,658.20. Following the transaction, the executive vice president now owns 5,989 shares of the company’s stock, valued at approximately $291,185.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 1,830 shares of company stock worth $88,609 in the last three months. Insiders own 0.13% of the company’s stock.

Several research analysts have recently issued reports on the stock. ValuEngine upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating in a report on Friday. Wells Fargo & Company upgraded shares of Verizon Communications from a “market perform” rating to an “outperform” rating and set a $50.00 price target for the company in a report on Monday, November 20th. Macquarie reiterated a “hold” rating and set a $52.00 price target on shares of Verizon Communications in a report on Sunday, October 22nd. KeyCorp restated a “hold” rating on shares of Verizon Communications in a report on Saturday, October 21st. Finally, Bank of America set a $52.00 price objective on Verizon Communications and gave the company a “buy” rating in a report on Friday, October 20th. Two investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $51.25.

Verizon Communications Inc. (VZ) traded up $0.36 during mid-day trading on Friday, hitting $51.25. 23,907,594 shares of the stock were exchanged, compared to its average volume of 18,370,128. The company has a market cap of $207,602.75, a PE ratio of 13.57, a PEG ratio of 4.78 and a beta of 0.57. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 4.05. Verizon Communications Inc. has a one year low of $42.80 and a one year high of $54.83.

Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Thursday, October 19th. The cell phone carrier reported $0.98 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.98. The company had revenue of $31.70 billion for the quarter, compared to analysts’ expectations of $31.45 billion. Verizon Communications had a net margin of 12.80% and a return on equity of 58.66%. The business’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.01 EPS. research analysts forecast that Verizon Communications Inc. will post 3.77 EPS for the current year.

TRADEMARK VIOLATION NOTICE: This report was first reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this report on another site, it was copied illegally and reposted in violation of United States & international trademark & copyright laws. The correct version of this report can be viewed at https://www.thecerbatgem.com/2017/12/02/verizon-communications-inc-vz-holdings-trimmed-by-high-pointe-capital-management-llc.html.

About Verizon Communications

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)

Receive News & Ratings for Verizon Communications Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verizon Communications Inc. and related companies with MarketBeat.com's FREE daily email newsletter.