Verizon Communications Inc. (NYSE:VZ) Shares Sold by Teamwork Financial Advisors LLC

Teamwork Financial Advisors LLC reduced its stake in Verizon Communications Inc. (NYSE:VZ) by 9.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 16,363 shares of the cell phone carrier’s stock after selling 1,728 shares during the quarter. Teamwork Financial Advisors LLC’s holdings in Verizon Communications were worth $884,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of VZ. Hoylecohen LLC increased its stake in Verizon Communications by 0.3% during the 1st quarter. Hoylecohen LLC now owns 160,821 shares of the cell phone carrier’s stock worth $9,352,000 after buying an additional 492 shares during the period. Stonnington Group LLC purchased a new stake in Verizon Communications during the 1st quarter worth approximately $786,000. Garde Capital Inc. increased its stake in Verizon Communications by 10.3% during the 1st quarter. Garde Capital Inc. now owns 3,722 shares of the cell phone carrier’s stock worth $216,000 after buying an additional 347 shares during the period. MBL Wealth LLC increased its stake in Verizon Communications by 15.8% during the 1st quarter. MBL Wealth LLC now owns 10,217 shares of the cell phone carrier’s stock worth $594,000 after buying an additional 1,395 shares during the period. Finally, Fragasso Group Inc. increased its stake in Verizon Communications by 9.6% during the 1st quarter. Fragasso Group Inc. now owns 97,102 shares of the cell phone carrier’s stock worth $5,646,000 after buying an additional 8,475 shares during the period. Hedge funds and other institutional investors own 63.61% of the company’s stock.

Shares of NYSE:VZ opened at $51.66 on Thursday. The stock has a market cap of $213.88 billion, a P/E ratio of 9.69, a P/E/G ratio of 3.06 and a beta of 0.43. The firm has a fifty day moving average price of $52.94 and a 200 day moving average price of $55.02. 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 1-year low of $50.65 and a 1-year high of $61.95.

Verizon Communications (NYSE:VZ) last released its earnings results on Tuesday, October 19th. The cell phone carrier reported $1.41 EPS for the quarter, topping the Thomson Reuters’ 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 company had revenue of $32.90 billion during the quarter, compared to analysts’ expectations of $33.24 billion. During the same quarter last year, the business earned $1.25 EPS. The business’s revenue was up 4.4% on a year-over-year basis. Sell-side analysts expect that Verizon Communications Inc. will post 5.37 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, November 1st. Stockholders 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 of this dividend was Thursday, October 7th. This is a boost from Verizon Communications’s previous quarterly dividend of $0.63. Verizon Communications’s dividend payout ratio (DPR) is 48.03%.

In other news, EVP Craig L. Silliman sold 1,554 shares of the firm’s stock in a transaction on Thursday, November 4th. The shares were sold at an average price of $52.91, for a total value of $82,222.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 4,662 shares of company stock valued at $252,898 in the last 90 days. Company insiders own 0.10% of the company’s stock.

VZ has been the topic of a number of recent analyst reports. Cowen increased their price objective on shares of Verizon Communications from $68.00 to $71.00 and gave the company an “outperform” rating in a research report on Thursday, October 21st. Raymond James reissued a “buy” rating and issued a $64.00 price objective on shares of Verizon Communications in a research report on Tuesday, September 28th. Loop Capital initiated coverage on shares of Verizon Communications in a research report on Monday, September 20th. They issued a “hold” rating and a $57.00 price objective on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Verizon Communications in a research report on Tuesday, October 19th. They issued a “hold” rating and a $55.00 price objective on the stock. Finally, Barclays dropped their target price 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. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Verizon Communications presently has a consensus rating of “Hold” and a consensus target price of $60.00.

Verizon Communications Company 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.

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

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