Verizon Communications Inc. (NYSE:VZ) Shares Sold by Douglass Winthrop Advisors LLC

Douglass Winthrop Advisors LLC trimmed its holdings in Verizon Communications Inc. (NYSE:VZ) by 9.9% in the third quarter, HoldingsChannel.com reports. The firm owned 49,295 shares of the cell phone carrier’s stock after selling 5,397 shares during the quarter. Douglass Winthrop Advisors LLC’s holdings in Verizon Communications were worth $2,662,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Lion Street Advisors LLC acquired a new stake in shares of Verizon Communications in the second quarter valued at approximately $25,000. Carderock Capital Management Inc. purchased a new position in Verizon Communications in the third quarter worth $35,000. West Financial Advisors LLC increased its position in shares of Verizon Communications by 197.6% in the third quarter. West Financial Advisors LLC now owns 753 shares of the cell phone carrier’s stock valued at $41,000 after buying an additional 500 shares in the last quarter. Rocky Mountain Advisers LLC increased its position in shares of Verizon Communications by 30.8% in the third quarter. Rocky Mountain Advisers LLC now owns 1,663 shares of the cell phone carrier’s stock valued at $90,000 after buying an additional 392 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. increased its position in shares of Verizon Communications by 8.6% in the second quarter. C M Bidwell & Associates Ltd. now owns 2,285 shares of the cell phone carrier’s stock valued at $128,000 after buying an additional 180 shares in the last quarter. 62.53% of the stock is owned by hedge funds and other institutional investors.

VZ stock traded down $0.19 during trading on Friday, reaching $53.33. 224,790 shares of the company’s stock were exchanged, compared to its average volume of 21,763,605. The company has a quick ratio of 0.92, a current ratio of 0.97 and a debt-to-equity ratio of 1.83. Verizon Communications Inc. has a 1-year low of $49.69 and a 1-year high of $59.85. The company’s fifty day moving average price is $52.06 and its 200-day moving average price is $53.79. The firm has a market cap of $223.87 billion, a PE ratio of 10.04, a P/E/G ratio of 3.04 and a beta of 0.44.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Tuesday, October 19th. The cell phone carrier reported $1.41 EPS for the quarter, topping the Zacks’ consensus estimate of $1.36 by $0.05. Verizon Communications had a return on equity of 29.72% and a net margin of 16.42%. The company had revenue of $32.90 billion for the quarter, compared to the consensus estimate of $33.24 billion. During the same quarter in the previous year, the business earned $1.25 EPS. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. As a group, sell-side analysts expect that Verizon Communications Inc. will post 5.39 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 1st. Stockholders of record on Monday, January 10th will be given a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a dividend yield of 4.80%. The ex-dividend date of this dividend is Friday, January 7th. Verizon Communications’s dividend payout ratio (DPR) is presently 48.03%.

In related news, EVP Craig L. Silliman sold 1,554 shares of the company’s stock in a transaction on Thursday, November 4th. The stock was sold at an average price of $52.91, for a total transaction of $82,222.14. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.10% of the stock is owned by insiders.

VZ has been the topic of a number of analyst reports. Loop Capital initiated coverage on Verizon Communications in a research note on Monday, September 20th. They set a “hold” rating and a $57.00 price objective on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on Verizon Communications in a research note on Tuesday, October 19th. They issued a “hold” rating and a $55.00 price target on the stock. Daiwa Capital Markets assumed coverage on Verizon Communications in a research note on Thursday, December 23rd. They issued a “neutral” rating and a $57.00 price objective on the stock. Wells Fargo & Company reduced their price objective on Verizon Communications from $58.00 to $56.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 21st. Finally, Raymond James reiterated a “buy” rating and set a $64.00 target price on shares of Verizon Communications in a report on Tuesday, September 28th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Verizon Communications has an average rating of “Hold” and a consensus target price of $59.80.

About Verizon Communications

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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