Legacy Private Trust Co. lessened its position in Verizon Communications Inc. (NYSE:VZ) by 4.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 100,740 shares of the cell phone carrier’s stock after selling 4,444 shares during the period. Legacy Private Trust Co.’s holdings in Verizon Communications were worth $5,993,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in VZ. LFA Lugano Financial Advisors SA purchased a new position in shares of Verizon Communications in the 2nd quarter valued at about $27,000. Toth Financial Advisory Corp purchased a new position in shares of Verizon Communications in the 2nd quarter valued at about $34,000. Laidlaw Wealth Management LLC increased its holdings in shares of Verizon Communications by 6,131.5% in the 2nd quarter. Laidlaw Wealth Management LLC now owns 1,967,354 shares of the cell phone carrier’s stock valued at $36,000 after purchasing an additional 1,935,783 shares in the last quarter. HighMark Wealth Management LLC increased its holdings in shares of Verizon Communications by 52.1% in the 2nd quarter. HighMark Wealth Management LLC now owns 788 shares of the cell phone carrier’s stock valued at $43,000 after purchasing an additional 270 shares in the last quarter. Finally, Evolution Wealth Advisors LLC increased its holdings in shares of Verizon Communications by 166.7% in the 2nd quarter. Evolution Wealth Advisors LLC now owns 800 shares of the cell phone carrier’s stock valued at $44,000 after purchasing an additional 500 shares in the last quarter. Institutional investors own 64.85% of the company’s stock.

Shares of NYSE VZ opened at $58.05 on Friday. The company has a market cap of $240.21 billion, a PE ratio of 12.59, a price-to-earnings-growth ratio of 3.67 and a beta of 0.46. Verizon Communications Inc. has a 12 month low of $48.84 and a 12 month high of $62.22. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.96 and a quick ratio of 0.93. The company has a 50-day simple moving average of $59.66 and a 200-day simple moving average of $57.28.

Verizon Communications (NYSE:VZ) last released its earnings results on Friday, July 24th. The cell phone carrier reported $1.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.15 by $0.03. Verizon Communications had a net margin of 14.76% and a return on equity of 32.15%. The business had revenue of $30.40 billion for the quarter, compared to analysts’ expectations of $29.98 billion. During the same period last year, the company earned $1.23 earnings per share. The company’s quarterly revenue was down 5.2% on a year-over-year basis. On average, analysts anticipate that Verizon Communications Inc. will post 4.78 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Friday, October 9th will be given a $0.6275 dividend. The ex-dividend date of this dividend is Thursday, October 8th. This is a boost from Verizon Communications’s previous quarterly dividend of $0.62. This represents a $2.51 annualized dividend and a dividend yield of 4.32%. Verizon Communications’s dividend payout ratio (DPR) is currently 52.18%.

A number of equities analysts have recently issued reports on VZ shares. UBS Group increased their price target on shares of Verizon Communications from $59.00 to $60.00 and gave the company a “neutral” rating in a report on Monday, July 27th. Moffett Nathanson reiterated a “hold” rating and issued a $62.00 price target on shares of Verizon Communications in a report on Friday, July 24th. Tigress Financial reiterated a “hold” rating on shares of Verizon Communications in a report on Tuesday, August 11th. Raymond James raised their target price on shares of Verizon Communications from $61.00 to $64.00 and gave the company an “outperform” rating in a report on Monday, July 27th. Finally, Oppenheimer assumed coverage on shares of Verizon Communications in a report on Tuesday, September 15th. They set a “buy” rating and a $70.00 target price for the company. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $62.24.

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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