RFG Advisory LLC Sells 8,648 Shares of Verizon Communications Inc. (NYSE:VZ)

RFG Advisory LLC reduced its position in Verizon Communications Inc. (NYSE:VZ) by 39.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 13,103 shares of the cell phone carrier’s stock after selling 8,648 shares during the quarter. RFG Advisory LLC’s holdings in Verizon Communications were worth $737,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in VZ. HC Financial Advisors Inc. increased its position in Verizon Communications by 51.6% in the 3rd quarter. HC Financial Advisors Inc. now owns 43,302 shares of the cell phone carrier’s stock valued at $2,312,000 after buying an additional 14,739 shares in the last quarter. Janus Henderson Group PLC increased its position in Verizon Communications by 36.6% in the 3rd quarter. Janus Henderson Group PLC now owns 4,218,107 shares of the cell phone carrier’s stock valued at $225,186,000 after buying an additional 1,129,514 shares in the last quarter. Jupiter Asset Management Ltd. increased its position in Verizon Communications by 79.2% in the 3rd quarter. Jupiter Asset Management Ltd. now owns 178,229 shares of the cell phone carrier’s stock valued at $9,551,000 after buying an additional 78,750 shares in the last quarter. Trillium Asset Management LLC increased its position in Verizon Communications by 23.0% in the 3rd quarter. Trillium Asset Management LLC now owns 512,792 shares of the cell phone carrier’s stock valued at $27,378,000 after buying an additional 95,978 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in Verizon Communications by 12,167,820.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 55,242,360 shares of the cell phone carrier’s stock valued at $2,949,390,000 after buying an additional 55,241,906 shares in the last quarter. 65.56% of the stock is currently owned by institutional investors.

VZ has been the subject of a number of research analyst reports. UBS Group lowered Verizon Communications from a “buy” rating to a “neutral” rating and set a $57.70 target price for the company. in a research report on Thursday, May 30th. They noted that the move was a valuation call. Zacks Investment Research lowered Verizon Communications from a “buy” rating to a “hold” rating in a research report on Thursday, May 16th. Goldman Sachs Group reaffirmed a “buy” rating and issued a $65.00 target price on shares of Verizon Communications in a research report on Tuesday, April 23rd. Bank of America set a $64.00 target price on Verizon Communications and gave the company a “buy” rating in a research report on Tuesday, April 23rd. Finally, Royal Bank of Canada reaffirmed a “neutral” rating and issued a $57.00 target price on shares of Verizon Communications in a research report on Tuesday, April 23rd. Ten investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Verizon Communications currently has a consensus rating of “Hold” and a consensus target price of $58.20.

Shares of VZ opened at $57.62 on Friday. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.87 and a quick ratio of 0.83. The company has a market cap of $235.03 billion, a price-to-earnings ratio of 12.23, a P/E/G ratio of 2.82 and a beta of 0.50. Verizon Communications Inc. has a 52 week low of $47.13 and a 52 week high of $61.58.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Tuesday, April 23rd. The cell phone carrier reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.03. The firm had revenue of $32.13 billion during the quarter, compared to analyst estimates of $32.13 billion. Verizon Communications had a return on equity of 35.40% and a net margin of 12.20%. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.17 EPS. Analysts expect that Verizon Communications Inc. will post 4.75 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be issued a dividend of $0.6025 per share. This represents a $2.41 dividend on an annualized basis and a yield of 4.18%. The ex-dividend date is Tuesday, July 9th. Verizon Communications’s dividend payout ratio is currently 51.17%.

In other news, EVP Craig L. Silliman sold 1,349 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $56.06, for a total value of $75,624.94. Following the completion of the transaction, the executive vice president now directly owns 28,077 shares of the company’s stock, valued at $1,573,996.62. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Anthony T. Skiadas sold 6,134 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $57.11, for a total value of $350,312.74. Following the completion of the transaction, the senior vice president now directly owns 20,000 shares of the company’s stock, valued at $1,142,200. The disclosure for this sale can be found here. Insiders have sold a total of 10,181 shares of company stock valued at $587,143 over the last three months. Corporate insiders own 0.03% of the company’s stock.

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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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