Verizon Communications Inc. (NYSE:VZ) Shares Sold by Heritage Trust Co

Heritage Trust Co cut its position in Verizon Communications Inc. (NYSE:VZFree Report) by 33.0% in the third quarter, Holdings Channel reports. The firm owned 12,970 shares of the cell phone carrier’s stock after selling 6,380 shares during the period. Heritage Trust Co’s holdings in Verizon Communications were worth $420,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in Verizon Communications by 1.8% during the 2nd quarter. BlackRock Inc. now owns 339,007,286 shares of the cell phone carrier’s stock worth $12,607,681,000 after purchasing an additional 5,910,739 shares during the last quarter. State Street Corp lifted its position in Verizon Communications by 4.9% during the 2nd quarter. State Street Corp now owns 175,039,883 shares of the cell phone carrier’s stock worth $6,509,733,000 after acquiring an additional 8,171,700 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Verizon Communications by 4.7% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 93,500,155 shares of the cell phone carrier’s stock valued at $3,448,296,000 after purchasing an additional 4,174,284 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Verizon Communications by 2.9% in the 2nd quarter. Geode Capital Management LLC now owns 82,371,505 shares of the cell phone carrier’s stock worth $3,055,808,000 after acquiring an additional 2,349,112 shares during the period. Finally, Moneta Group Investment Advisors LLC lifted its holdings in shares of Verizon Communications by 88,532.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 79,084,569 shares of the cell phone carrier’s stock valued at $3,115,932,000 after buying an additional 78,995,341 shares during the period. Hedge funds and other institutional investors own 61.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on VZ shares. Barclays raised their target price on Verizon Communications from $42.00 to $44.00 and gave the company an “equal weight” rating in a report on Friday, January 26th. Wolfe Research upgraded Verizon Communications from a “peer perform” rating to an “outperform” rating and set a $46.00 price target on the stock in a report on Thursday, January 4th. StockNews.com cut Verizon Communications from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Raymond James upped their target price on Verizon Communications from $42.00 to $46.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Finally, KeyCorp boosted their price objective on shares of Verizon Communications from $45.00 to $46.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $44.62.

Read Our Latest Research Report on Verizon Communications

Insider Transactions at Verizon Communications

In other Verizon Communications news, EVP Craig L. Silliman sold 23,380 shares of the company’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $38.00, for a total transaction of $888,440.00. Following the completion of the sale, the executive vice president now directly owns 49,635 shares in the company, valued at $1,886,130. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Craig L. Silliman sold 3,340 shares of the firm’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $38.29, for a total value of $127,888.60. Following the transaction, the executive vice president now owns 46,295 shares of the company’s stock, valued at approximately $1,772,635.55. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Craig L. Silliman sold 23,380 shares of the company’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $38.00, for a total transaction of $888,440.00. Following the sale, the executive vice president now directly owns 49,635 shares of the company’s stock, valued at $1,886,130. The disclosure for this sale can be found here. Insiders own 0.02% of the company’s stock.

Verizon Communications Stock Down 0.8 %

VZ stock opened at $42.13 on Monday. Verizon Communications Inc. has a one year low of $30.14 and a one year high of $43.21. The stock has a market capitalization of $177.12 billion, a P/E ratio of 15.26, a PEG ratio of 3.20 and a beta of 0.43. The company has a 50 day moving average price of $38.96 and a two-hundred day moving average price of $35.58. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.65 and a current ratio of 0.69.

Verizon Communications (NYSE:VZGet Free Report) last released its earnings results on Tuesday, January 23rd. The cell phone carrier reported $1.08 earnings per share for the quarter, hitting the consensus estimate of $1.08. Verizon Communications had a return on equity of 20.71% and a net margin of 8.67%. The firm had revenue of $35.10 billion for the quarter, compared to the consensus estimate of $34.60 billion. During the same period in the prior year, the business posted $1.19 earnings per share. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, sell-side analysts expect that Verizon Communications Inc. will post 4.6 EPS for the current year.

Verizon Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th were paid a dividend of $0.665 per share. The ex-dividend date was Tuesday, January 9th. This represents a $2.66 annualized dividend and a dividend yield of 6.31%. Verizon Communications’s dividend payout ratio is presently 96.38%.

Verizon Communications Company Profile

(Free Report)

Verizon Communications Inc, through its subsidiaries, provides 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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