Princeton Global Asset Management LLC decreased its stake in Verizon Communications Inc. (NYSE:VZ) by 12.9% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 7,652 shares of the cell phone carrier’s stock after selling 1,130 shares during the period. Princeton Global Asset Management LLC’s holdings in Verizon Communications were worth $458,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Webster Bank N. A. grew its holdings in shares of Verizon Communications by 3.4% during the second quarter. Webster Bank N. A. now owns 65,087 shares of the cell phone carrier’s stock worth $3,718,000 after purchasing an additional 2,116 shares during the last quarter. Bogart Wealth LLC lifted its position in shares of Verizon Communications by 49.6% during the second quarter. Bogart Wealth LLC now owns 67,326 shares of the cell phone carrier’s stock worth $3,846,000 after purchasing an additional 22,327 shares in the last quarter. Brandywine Oak Private Wealth LLC grew its stake in shares of Verizon Communications by 1.3% during the second quarter. Brandywine Oak Private Wealth LLC now owns 44,650 shares of the cell phone carrier’s stock valued at $2,550,000 after purchasing an additional 572 shares during the last quarter. First National Trust Co grew its stake in shares of Verizon Communications by 17.9% during the second quarter. First National Trust Co now owns 279,152 shares of the cell phone carrier’s stock valued at $15,948,000 after purchasing an additional 42,466 shares during the last quarter. Finally, Strategic Advisors LLC increased its holdings in shares of Verizon Communications by 8.5% in the second quarter. Strategic Advisors LLC now owns 114,397 shares of the cell phone carrier’s stock valued at $6,535,000 after purchasing an additional 8,935 shares in the last quarter. 65.28% of the stock is currently owned by institutional investors and hedge funds.

NYSE VZ opened at $60.14 on Wednesday. Verizon Communications Inc. has a 12 month low of $52.28 and a 12 month high of $61.34. The stock has a 50-day simple moving average of $60.03 and a 200 day simple moving average of $58.35. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 1.99. The company has a market capitalization of $249.14 billion, a PE ratio of 12.77, a P/E/G ratio of 3.87 and a beta of 0.52.

Verizon Communications (NYSE:VZ) last issued its earnings results on Friday, October 25th. The cell phone carrier reported $1.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.01. The firm had revenue of $32.89 billion for the quarter, compared to analysts’ expectations of $32.74 billion. Verizon Communications had a return on equity of 34.50% and a net margin of 12.26%. The company’s revenue was up .9% compared to the same quarter last year. During the same quarter last year, the business earned $1.22 earnings per share. As a group, sell-side analysts predict that Verizon Communications Inc. will post 4.84 earnings per share for the current fiscal year.

A number of research analysts have commented on VZ shares. Sanford C. Bernstein assumed coverage on Verizon Communications in a research report on Tuesday, October 15th. They issued a “market perform” rating and a $63.00 price objective on the stock. Moffett Nathanson set a $57.00 price target on Verizon Communications and gave the company a “hold” rating in a research note on Friday, October 25th. Nomura lowered Verizon Communications from a “buy” rating to a “neutral” rating and cut their price target for the company from $67.00 to $65.00 in a research note on Monday, November 4th. Zacks Investment Research upgraded Verizon Communications from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a report on Monday, September 2nd. Finally, SunTrust Banks boosted their price objective on Verizon Communications from $61.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Eleven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Verizon Communications has a consensus rating of “Hold” and an average target price of $62.84.

In related news, EVP Craig L. Silliman sold 1,346 shares of the company’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $59.55, for a total value of $80,154.30. Following the completion of the sale, the executive vice president now owns 18,637 shares in the company, valued at approximately $1,109,833.35. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Craig L. Silliman sold 1,349 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $60.42, for a total transaction of $81,506.58. Following the completion of the sale, the executive vice president now owns 19,983 shares of the company’s stock, valued at approximately $1,207,372.86. The disclosure for this sale can be found here. Insiders sold a total of 4,044 shares of company stock worth $242,790 over the last quarter. 0.03% of the stock is currently owned by corporate insiders.

About Verizon Communications

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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