Antonetti Capital Management LLC Decreases Position in Verizon Communications Inc. (NYSE:VZ)

Antonetti Capital Management LLC decreased its position in Verizon Communications Inc. (NYSE:VZFree Report) by 8.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,284 shares of the cell phone carrier’s stock after selling 378 shares during the quarter. Antonetti Capital Management LLC’s holdings in Verizon Communications were worth $139,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. CGC Financial Services LLC bought a new stake in Verizon Communications during the second quarter worth about $32,000. HBC Financial Services PLLC lifted its stake in shares of Verizon Communications by 320.0% in the third quarter. HBC Financial Services PLLC now owns 1,050 shares of the cell phone carrier’s stock worth $34,000 after buying an additional 800 shares in the last quarter. True Wealth Design LLC bought a new position in shares of Verizon Communications in the fourth quarter worth approximately $42,000. RVW Wealth LLC bought a new position in shares of Verizon Communications in the third quarter worth approximately $36,000. Finally, Horizon Bancorp Inc. IN lifted its position in Verizon Communications by 120.1% during the second quarter. Horizon Bancorp Inc. IN now owns 1,204 shares of the cell phone carrier’s stock valued at $45,000 after purchasing an additional 657 shares during the period. Hedge funds and other institutional investors own 61.06% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Craig L. Silliman sold 3,340 shares of the company’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 completion of the sale, the executive vice president now owns 46,295 shares in the company, valued at approximately $1,772,635.55. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Verizon Communications news, EVP Craig L. Silliman sold 3,340 shares of the firm’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $38.29, for a total transaction of $127,888.60. Following the sale, the executive vice president now directly owns 46,295 shares of the company’s stock, valued at approximately $1,772,635.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Craig L. Silliman sold 23,380 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 49,635 shares in the company, valued at $1,886,130. The disclosure for this sale can be found here. 0.02% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Citigroup increased their price objective on shares of Verizon Communications from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Tuesday, January 30th. Tigress Financial raised their target price on shares of Verizon Communications from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. StockNews.com downgraded shares of Verizon Communications from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. Daiwa Capital Markets raised shares of Verizon Communications from a “neutral” rating to an “outperform” rating and raised their target price for the company from $36.00 to $47.00 in a research report on Wednesday, January 24th. Finally, Wolfe Research raised shares of Verizon Communications from a “peer perform” rating to an “outperform” rating and set a $46.00 target price on the stock in a research report on Thursday, January 4th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $44.62.

View Our Latest Report on VZ

Verizon Communications Trading Up 0.2 %

Shares of Verizon Communications stock traded up $0.06 on Monday, reaching $39.78. The company had a trading volume of 1,900,315 shares, compared to its average volume of 22,890,188. The firm’s 50 day moving average price is $39.22 and its two-hundred day moving average price is $35.81. The firm has a market cap of $167.24 billion, a PE ratio of 14.43, a PEG ratio of 3.02 and a beta of 0.43. Verizon Communications Inc. has a 52-week low of $30.14 and a 52-week high of $43.21. 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 quarterly earnings results on Tuesday, January 23rd. The cell phone carrier reported $1.08 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.08. The business had revenue of $35.10 billion for the quarter, compared to the consensus estimate of $34.60 billion. Verizon Communications had a net margin of 8.67% and a return on equity of 20.71%. The business’s revenue was down .6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.19 EPS. Sell-side analysts predict that Verizon Communications Inc. will post 4.6 earnings per share for the current fiscal year.

Verizon Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 1st. Investors of record on Wednesday, January 10th were paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 6.69%. The ex-dividend date of this dividend was Tuesday, January 9th. Verizon Communications’s payout ratio is currently 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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