Mark Sheptoff Financial Planning LLC decreased its position in shares of Verizon Communications Inc. (NYSE:VZ) by 31.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,708 shares of the cell phone carrier’s stock after selling 22,391 shares during the quarter. Verizon Communications makes up 1.5% of Mark Sheptoff Financial Planning LLC’s holdings, making the stock its 17th largest holding. Mark Sheptoff Financial Planning LLC’s holdings in Verizon Communications were worth $2,131,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. ARGI Investment Services LLC raised its stake in Verizon Communications by 13.5% in the second quarter. ARGI Investment Services LLC now owns 37,598 shares of the cell phone carrier’s stock valued at $1,679,000 after buying an additional 4,470 shares during the last quarter. Covington Investment Advisors Inc. raised its stake in Verizon Communications by 1.8% in the second quarter. Covington Investment Advisors Inc. now owns 58,037 shares of the cell phone carrier’s stock valued at $2,592,000 after buying an additional 1,025 shares during the last quarter. Marble Harbor Investment Counsel LLC raised its stake in Verizon Communications by 3.3% in the second quarter. Marble Harbor Investment Counsel LLC now owns 7,418 shares of the cell phone carrier’s stock valued at $331,000 after buying an additional 237 shares during the last quarter. ARGA Investment Management LP raised its stake in Verizon Communications by 65.1% in the second quarter. ARGA Investment Management LP now owns 31,700 shares of the cell phone carrier’s stock valued at $1,416,000 after buying an additional 12,500 shares during the last quarter. Finally, Commerce Bank raised its stake in Verizon Communications by 0.3% in the second quarter. Commerce Bank now owns 1,095,210 shares of the cell phone carrier’s stock valued at $48,912,000 after buying an additional 3,019 shares during the last quarter. 63.37% of the stock is currently owned by institutional investors and hedge funds.

Shares of Verizon Communications Inc. (NYSE:VZ) traded down $0.20 on Wednesday, reaching $50.73. The company’s stock had a trading volume of 9,428,208 shares, compared to its average volume of 15,640,251. The company has a debt-to-equity ratio of 4.05, a quick ratio of 1.02 and a current ratio of 1.07. Verizon Communications Inc. has a one year low of $42.80 and a one year high of $54.83. The firm has a market capitalization of $206,580.00, a price-to-earnings ratio of 13.79, a P/E/G ratio of 4.86 and a beta of 0.57.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Thursday, October 19th. The cell phone carrier reported $0.98 EPS for the quarter, meeting the consensus estimate of $0.98. Verizon Communications had a return on equity of 58.66% and a net margin of 12.80%. The company had revenue of $31.70 billion for the quarter, compared to analyst estimates of $31.45 billion. During the same period last year, the company earned $1.01 earnings per share. Verizon Communications’s quarterly revenue was up 2.5% compared to the same quarter last year. analysts anticipate that Verizon Communications Inc. will post 3.77 earnings per share for the current fiscal year.

VZ has been the subject of a number of research analyst reports. Wells Fargo & Company upgraded Verizon Communications from a “market perform” rating to an “outperform” rating and set a $50.00 price target for the company in a research note on Monday, November 20th. SunTrust Banks reiterated a “hold” rating and issued a $50.00 price target on shares of Verizon Communications in a research note on Friday, October 20th. Bank of America set a $52.00 price objective on Verizon Communications and gave the stock a “buy” rating in a research note on Friday, October 20th. Macquarie restated a “hold” rating and issued a $52.00 price objective on shares of Verizon Communications in a research note on Sunday, October 22nd. Finally, ValuEngine upgraded Verizon Communications from a “hold” rating to a “buy” rating in a research note on Monday, October 23rd. Two equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $51.25.

In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $48.62, for a total value of $29,658.20. Following the sale, the executive vice president now directly owns 5,989 shares of the company’s stock, valued at $291,185.18. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders sold 1,830 shares of company stock worth $88,609. 0.13% of the stock is owned by corporate insiders.

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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.

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

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