Todays Report: Today, Bartlett & Co. LLC invests in Verizon Communications Inc. (VZ) Shares

Today, Bartlett & Co. LLC invests in Verizon Communications Inc. (VZ) Shares

Bartlett & Co. LLC increased its position in Verizon Communications Inc. (NYSE:VZ) by 3.6% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 521,754 shares of the cell phone carrier’s stock after buying an additional 17,920 shares during the period. Verizon Communications makes up approximately 1.3% of Bartlett & Co. LLC’s investment portfolio, making the stock its 28th largest position. Bartlett & Co. LLC’s holdings in Verizon Communications were worth $27,121,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of VZ. Vanguard Group Inc. raised its stake in Verizon Communications by 2.7% in the second quarter. Vanguard Group Inc. now owns 256,735,733 shares of the cell phone carrier’s stock worth $14,336,123,000 after buying an additional 6,630,874 shares during the last quarter. Capital World Investors raised its stake in Verizon Communications by 0.5% in the second quarter. Capital World Investors now owns 79,798,661 shares of the cell phone carrier’s stock worth $4,455,957,000 after buying an additional 376,933 shares during the last quarter. Wellington Management Group LLP raised its stake in Verizon Communications by 1.7% in the first quarter. Wellington Management Group LLP now owns 71,688,221 shares of the cell phone carrier’s stock worth $3,876,898,000 after buying an additional 1,174,260 shares during the last quarter. BlackRock Fund Advisors raised its stake in shares of Verizon Communications by 6.4% in the second quarter. BlackRock Fund Advisors now owns 60,876,683 shares of the cell phone carrier’s stock worth $3,399,354,000 after buying an additional 3,662,102 shares in the last quarter. Finally, Capital International Investors raised its stake in shares of Verizon Communications by 2.8% in the second quarter. Capital International Investors now owns 47,790,444 shares of the cell phone carrier’s stock worth $2,668,618,000 after buying an additional 1,306,800 shares in the last quarter. Institutional investors own 63.35% of the company’s stock.

Shares of Verizon Communications Inc. (NYSE:VZ) traded up 0.88% during trading on Friday, hitting $50.67. 8,087,235 shares of the stock were exchanged. The stock has a market cap of $206.56 billion, a PE ratio of 14.77 and a beta of 0.38. The stock’s 50 day moving average price is $48.54 and its 200 day moving average price is $51.87. Verizon Communications Inc. has a one year low of $43.79 and a one year high of $56.95.

Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Thursday, October 20th. The cell phone carrier reported $1.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.02. The firm earned $30.90 billion during the quarter, compared to analysts’ expectations of $31.08 billion. Verizon Communications had a return on equity of 78.75% and a net margin of 10.97%. Verizon Communications’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.04 EPS. Equities research analysts predict that Verizon Communications Inc. will post $3.90 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 1st. Shareholders of record on Friday, October 7th were given a $0.0125 dividend. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.10%. The ex-dividend date was Wednesday, October 5th. Verizon Communications’s payout ratio is 67.15%.

A number of equities research analysts recently issued reports on the stock. Jefferies Group reissued a “hold” rating on shares of Verizon Communications in a report on Saturday, August 6th. Morgan Stanley reissued an “overweight” rating and issued a $60.00 price objective on shares of Verizon Communications in a report on Sunday, October 23rd. Vetr raised shares of Verizon Communications from a “buy” rating to a “strong-buy” rating and set a $60.00 price objective for the company in a report on Thursday, August 18th. FBR & Co reissued an “outperform” rating and issued a $57.00 price objective on shares of Verizon Communications in a report on Sunday, October 23rd. Finally, Goldman Sachs Group Inc. reissued a “neutral” rating and issued a $51.00 price objective on shares of Verizon Communications in a report on Sunday, October 23rd. One research analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and nine have issued a buy rating to the company’s stock. Verizon Communications presently has an average rating of “Hold” and a consensus price target of $54.61.

In other Verizon Communications news, EVP Craig L. Silliman sold 672 shares of the company’s stock in a transaction that occurred on Wednesday, October 26th. The stock was sold at an average price of $47.76, for a total value of $32,094.72. Following the transaction, the executive vice president now directly owns 9,182 shares of the company’s stock, valued at approximately $438,532.32. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.10% of the stock is owned by company insiders.

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