Appleton Partners Inc. MA Has $307,000 Holdings in Verizon Communications Inc. (NYSE:VZ)

Appleton Partners Inc. MA cut its position in shares of Verizon Communications Inc. (NYSE:VZFree Report) by 16.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,310 shares of the cell phone carrier’s stock after selling 1,431 shares during the period. Appleton Partners Inc. MA’s holdings in Verizon Communications were worth $307,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Pacifica Partners Inc. increased its stake in shares of Verizon Communications by 4.6% in the fourth quarter. Pacifica Partners Inc. now owns 5,800 shares of the cell phone carrier’s stock worth $223,000 after purchasing an additional 255 shares in the last quarter. Private Portfolio Partners LLC increased its stake in shares of Verizon Communications by 0.9% in the fourth quarter. Private Portfolio Partners LLC now owns 27,457 shares of the cell phone carrier’s stock worth $1,035,000 after purchasing an additional 255 shares in the last quarter. Selective Wealth Management Inc. increased its stake in shares of Verizon Communications by 2.8% in the fourth quarter. Selective Wealth Management Inc. now owns 9,511 shares of the cell phone carrier’s stock worth $374,000 after purchasing an additional 257 shares in the last quarter. Horizon Bancorp Inc. IN increased its stake in shares of Verizon Communications by 24.9% in the fourth quarter. Horizon Bancorp Inc. IN now owns 1,293 shares of the cell phone carrier’s stock worth $49,000 after purchasing an additional 258 shares in the last quarter. Finally, Princeton Global Asset Management LLC increased its stake in shares of Verizon Communications by 2.4% in the fourth quarter. Princeton Global Asset Management LLC now owns 10,961 shares of the cell phone carrier’s stock worth $413,000 after purchasing an additional 260 shares in the last quarter. 62.06% of the stock is owned by institutional investors.

Verizon Communications Stock Up 1.3 %

NYSE VZ traded up $0.53 during trading on Tuesday, reaching $39.99. 4,728,706 shares of the company’s stock traded hands, compared to its average volume of 18,677,355. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.71 and a quick ratio of 0.67. The firm has a market cap of $168.33 billion, a price-to-earnings ratio of 14.87, a price-to-earnings-growth ratio of 2.88 and a beta of 0.42. The company’s 50 day simple moving average is $39.98 and its two-hundred day simple moving average is $39.89. Verizon Communications Inc. has a 12-month low of $30.14 and a 12-month high of $43.42.

Verizon Communications (NYSE:VZGet Free Report) last posted its earnings results on Monday, April 22nd. The cell phone carrier reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.03. The business had revenue of $33 billion for the quarter, compared to the consensus estimate of $33.23 billion. Verizon Communications had a net margin of 8.44% and a return on equity of 20.41%. The company’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter last year, the firm posted $1.20 EPS. As a group, sell-side analysts forecast that Verizon Communications Inc. will post 4.59 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 6.65%. The ex-dividend date is Wednesday, July 10th. Verizon Communications’s dividend payout ratio (DPR) is 99.25%.

Wall Street Analyst Weigh In

VZ has been the subject of several research analyst reports. StockNews.com raised shares of Verizon Communications from a “hold” rating to a “buy” rating in a research note on Saturday, May 4th. Tigress Financial raised their target price on shares of Verizon Communications from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Oppenheimer reaffirmed an “outperform” rating and set a $48.00 target price on shares of Verizon Communications in a research note on Tuesday, April 23rd. Redburn Atlantic raised shares of Verizon Communications from a “sell” rating to a “neutral” rating and raised their target price for the company from $33.00 to $39.00 in a research note on Friday, March 22nd. Finally, Royal Bank of Canada increased their price objective on shares of Verizon Communications from $36.00 to $40.00 and gave the company a “sector perform” rating in a research report on Tuesday, April 2nd. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Verizon Communications presently has a consensus rating of “Moderate Buy” and an average price target of $44.77.

Get Our Latest Stock Report on Verizon Communications

Verizon Communications Company Profile

(Free Report)

Verizon Communications Inc, through its subsidiaries, engages in the provision of communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. It operates in two segments, Verizon Consumer Group (Consumer) and Verizon Business Group (Business).

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

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