Whitnell & Co. boosted its position in shares of Verizon Communications Inc. (NYSE:VZ) by 40.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,601 shares of the cell phone carrier’s stock after purchasing an additional 3,660 shares during the period. Whitnell & Co.’s holdings in Verizon Communications were worth $761,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Financial Gravity Wealth Inc. lifted its position in shares of Verizon Communications by 4.5% in the third quarter. Financial Gravity Wealth Inc. now owns 3,942 shares of the cell phone carrier’s stock worth $238,000 after buying an additional 169 shares during the last quarter. Albert D Mason Inc. lifted its position in shares of Verizon Communications by 0.7% in the third quarter. Albert D Mason Inc. now owns 23,439 shares of the cell phone carrier’s stock worth $1,415,000 after buying an additional 170 shares during the last quarter. SMH Capital Advisors Inc. lifted its position in shares of Verizon Communications by 4.6% in the third quarter. SMH Capital Advisors Inc. now owns 3,919 shares of the cell phone carrier’s stock worth $237,000 after buying an additional 172 shares during the last quarter. Nadler Financial Group Inc. lifted its position in shares of Verizon Communications by 1.2% in the third quarter. Nadler Financial Group Inc. now owns 15,114 shares of the cell phone carrier’s stock worth $912,000 after buying an additional 174 shares during the last quarter. Finally, Advocacy Wealth Management Services LLC lifted its position in shares of Verizon Communications by 35.8% in the third quarter. Advocacy Wealth Management Services LLC now owns 687 shares of the cell phone carrier’s stock worth $41,000 after buying an additional 181 shares during the last quarter. 65.55% of the stock is owned by hedge funds and other institutional investors.

In other news, EVP Craig L. Silliman sold 1,349 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $60.14, for a total value of $81,128.86. Following the transaction, the executive vice president now directly owns 21,332 shares of the company’s stock, valued at approximately $1,282,906.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Tami A. Erwin sold 17,000 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $57.75, for a total value of $981,750.00. Following the completion of the transaction, the chief executive officer now directly owns 853 shares in the company, valued at $49,260.75. The disclosure for this sale can be found here. Insiders have sold 21,047 shares of company stock worth $1,219,943 over the last ninety days. Company insiders own 0.03% of the company’s stock.

NYSE VZ traded down $1.18 during trading on Friday, reaching $59.35. 17,467,367 shares of the company traded hands, compared to its average volume of 13,203,746. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.85 and a current ratio of 0.89. The stock’s 50 day moving average price is $60.20 and its two-hundred day moving average price is $58.02. The company has a market cap of $246.08 billion, a price-to-earnings ratio of 12.60, a P/E/G ratio of 2.97 and a beta of 0.53. Verizon Communications Inc. has a 1-year low of $52.28 and a 1-year high of $61.58.

Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Friday, October 25th. The cell phone carrier reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.01. The company had revenue of $32.89 billion for the quarter, compared to the consensus estimate of $32.74 billion. Verizon Communications had a return on equity of 34.50% and a net margin of 12.26%. The company’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the previous year, the business earned $1.22 earnings per share. Equities research analysts expect that Verizon Communications Inc. will post 4.83 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were issued a dividend of $0.615 per share. This represents a $2.46 dividend on an annualized basis and a yield of 4.14%. This is an increase from Verizon Communications’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Wednesday, October 9th. Verizon Communications’s payout ratio is presently 52.23%.

A number of brokerages have weighed in on VZ. Nomura cut Verizon Communications from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $67.00 to $65.00 in a research report on Monday, November 4th. Guggenheim boosted their price target on Verizon Communications from $65.00 to $69.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Oppenheimer upgraded Verizon Communications from a “market perform” rating to an “outperform” rating and set a $70.00 price objective on the stock in a research note on Tuesday, August 27th. Citigroup set a $62.00 price objective on Verizon Communications and gave the stock a “hold” rating in a research note on Tuesday, September 10th. Finally, Moffett Nathanson set a $57.00 price objective on Verizon Communications and gave the stock a “hold” rating in a research note on Friday, October 25th. Ten investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $62.69.

Verizon Communications Profile

Verizon Communications Inc, through its subsidiaries, offers communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company's Wireless segment provides wireless voice and data services; Internet access on various notebook computers and tablets; international travel wireless services; and network access services to deliver various Internet of Things products and services, as well as offers digital advertising and digital media services platforms.

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

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