Telos Capital Management Inc. boosted its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 12.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,853 shares of the cell phone carrier’s stock after buying an additional 1,784 shares during the quarter. Telos Capital Management Inc. owned approximately 388.61% of Verizon Communications worth $784,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital Research Global Investors boosted its position in shares of Verizon Communications by 15.1% in the second quarter. Capital Research Global Investors now owns 153,408,016 shares of the cell phone carrier’s stock worth $6,851,202,000 after purchasing an additional 20,070,391 shares during the period. FMR LLC boosted its position in shares of Verizon Communications by 15.0% in the second quarter. FMR LLC now owns 61,833,096 shares of the cell phone carrier’s stock worth $2,761,466,000 after purchasing an additional 8,077,275 shares during the period. Vanguard Group Inc. boosted its position in shares of Verizon Communications by 2.1% in the second quarter. Vanguard Group Inc. now owns 282,894,542 shares of the cell phone carrier’s stock worth $12,634,070,000 after purchasing an additional 5,837,702 shares during the period. Franklin Resources Inc. boosted its position in shares of Verizon Communications by 19.9% in the second quarter. Franklin Resources Inc. now owns 21,820,729 shares of the cell phone carrier’s stock worth $974,515,000 after purchasing an additional 3,623,182 shares during the period. Finally, Principal Financial Group Inc. boosted its position in shares of Verizon Communications by 52.6% in the second quarter. Principal Financial Group Inc. now owns 9,014,846 shares of the cell phone carrier’s stock worth $402,604,000 after purchasing an additional 3,107,054 shares during the period. Institutional investors own 63.22% of the company’s stock.

Shares of Verizon Communications Inc. (NYSE VZ) opened at $51.55 on Friday. Verizon Communications Inc. has a 12 month low of $42.80 and a 12 month high of $53.69. The firm has a market cap of $210,300.00, a price-to-earnings ratio of 13.22, a PEG ratio of 4.63 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 (NYSE:VZ) last announced its earnings results on Thursday, October 19th. The cell phone carrier reported $0.98 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.98. Verizon Communications had a net margin of 12.80% and a return on equity of 58.66%. The business had revenue of $31.70 billion for the quarter, compared to the consensus estimate of $31.45 billion. During the same quarter in the prior year, the firm posted $1.01 earnings per share. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. sell-side analysts expect that Verizon Communications Inc. will post 3.77 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 4.58%. The ex-dividend date of this dividend is Tuesday, January 9th. Verizon Communications’s dividend payout ratio is currently 60.51%.

A number of equities analysts have weighed in on VZ shares. Instinet upped their price target on shares of Verizon Communications from $47.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, December 12th. Nomura upgraded shares of Verizon Communications from a “neutral” rating to a “buy” rating and upped their target price for the stock from $47.00 to $61.00 in a research report on Tuesday, December 12th. ValuEngine upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Moffett Nathanson restated a “buy” rating on shares of Verizon Communications in a research report on Thursday, October 12th. Finally, Bank of America set a $52.00 target price on shares of Verizon Communications and gave the stock a “buy” rating in a research report on Friday, October 20th. Two research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $51.98.

In other news, EVP Craig L. Silliman sold 610 shares of the company’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $47.41, for a total value of $28,920.10. Following the transaction, the executive vice president now directly owns 3,269 shares in the company, valued at $154,983.29. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.13% of the company’s stock.

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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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