Verizon Communications Inc. (NYSE:VZ) Shares Sold by Winthrop Advisory Group LLC

Winthrop Advisory Group LLC lessened its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 3.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,170 shares of the cell phone carrier’s stock after selling 270 shares during the quarter. Winthrop Advisory Group LLC’s holdings in Verizon Communications were worth $441,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Atlas Brown Inc. grew its position in Verizon Communications by 13.1% in the third quarter. Atlas Brown Inc. now owns 21,585 shares of the cell phone carrier’s stock worth $1,166,000 after buying an additional 2,499 shares during the last quarter. Marino Stram & Associates LLC grew its position in Verizon Communications by 36.5% in the third quarter. Marino Stram & Associates LLC now owns 57,417 shares of the cell phone carrier’s stock worth $3,101,000 after buying an additional 15,368 shares during the last quarter. Procyon Private Wealth Partners LLC grew its position in Verizon Communications by 1.8% in the third quarter. Procyon Private Wealth Partners LLC now owns 36,186 shares of the cell phone carrier’s stock worth $1,954,000 after buying an additional 634 shares during the last quarter. First United Bank & Trust grew its position in Verizon Communications by 2.9% in the third quarter. First United Bank & Trust now owns 40,951 shares of the cell phone carrier’s stock worth $2,211,000 after buying an additional 1,157 shares during the last quarter. Finally, IAM Advisory LLC acquired a new position in Verizon Communications in the third quarter worth approximately $842,000. Institutional investors and hedge funds own 63.61% of the company’s stock.

In related news, EVP Craig L. Silliman sold 1,554 shares of Verizon Communications stock in a transaction on Monday, October 4th. The shares were sold at an average price of $54.45, for a total value of $84,615.30. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last ninety days, insiders sold 4,662 shares of company stock valued at $252,898. 0.10% of the stock is owned by company insiders.

Shares of VZ stock traded down $0.09 on Thursday, hitting $51.66. The company’s stock had a trading volume of 15,474,541 shares, compared to its average volume of 17,699,629. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.97 and a quick ratio of 0.92. Verizon Communications Inc. has a fifty-two week low of $50.65 and a fifty-two week high of $61.95. The firm’s fifty day moving average price is $52.94 and its 200-day moving average price is $55.02. The stock has a market capitalization of $213.88 billion, a price-to-earnings ratio of 9.69, a P/E/G ratio of 3.06 and a beta of 0.43.

Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Tuesday, October 19th. The cell phone carrier reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.05. Verizon Communications had a net margin of 16.42% and a return on equity of 29.72%. The business had revenue of $32.90 billion during the quarter, compared to analyst estimates of $33.24 billion. During the same quarter in the previous year, the business earned $1.25 EPS. Verizon Communications’s quarterly revenue was up 4.4% compared to the same quarter last year. Analysts predict that Verizon Communications Inc. will post 5.37 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 1st. Investors of record on Friday, October 8th were paid a $0.64 dividend. This represents a $2.56 annualized dividend and a dividend yield of 4.96%. The ex-dividend date was Thursday, October 7th. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.63. Verizon Communications’s payout ratio is presently 48.03%.

Several equities analysts have weighed in on the stock. Wells Fargo & Company lowered their price objective on shares of Verizon Communications from $58.00 to $56.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 21st. Barclays lowered their price objective on shares of Verizon Communications from $56.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Monday, October 11th. Cowen lifted their price objective on shares of Verizon Communications from $68.00 to $71.00 and gave the stock an “outperform” rating in a research report on Thursday, October 21st. Loop Capital assumed coverage on shares of Verizon Communications in a research report on Monday, September 20th. They set a “hold” rating and a $57.00 price objective on the stock. Finally, Raymond James reiterated a “buy” rating and set a $64.00 price objective on shares of Verizon Communications in a research report on Tuesday, September 28th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Verizon Communications presently has an average rating of “Hold” and a consensus target price of $60.00.

Verizon Communications Profile

Verizon Communications, Inc is a holding company, which engages in the provision of communications, information, and entertainment products and services to consumers, businesses, and governmental agencies. It operates through the Verizon Consumer Group (Consumer) and Verizon Business Group (Business) segments.

Further Reading: Index Funds

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

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