Today, Strategic Advisors LLC Reduces Stake in Verizon Communications Inc. (VZ)

Today, Strategic Advisors LLC Reduces Stake in Verizon Communications Inc. (VZ)

Strategic Advisors LLC decreased its position in shares of Verizon Communications Inc. (NYSE:VZ) by 0.5% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 132,474 shares of the cell phone carrier’s stock after selling 732 shares during the period. Verizon Communications accounts for 3.9% of Strategic Advisors LLC’s portfolio, making the stock its 3rd largest position. Strategic Advisors LLC’s holdings in Verizon Communications were worth $6,886,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Reaves W H & Co. Inc. boosted its stake in Verizon Communications by 1.1% in the second quarter. Reaves W H & Co. Inc. now owns 2,023,720 shares of the cell phone carrier’s stock valued at $113,005,000 after buying an additional 22,711 shares during the last quarter. AMP Capital Investors Ltd boosted its stake in Verizon Communications by 10.4% in the first quarter. AMP Capital Investors Ltd now owns 1,752,370 shares of the cell phone carrier’s stock valued at $94,698,000 after buying an additional 164,905 shares during the last quarter. Alps Advisors Inc. boosted its stake in Verizon Communications by 20.1% in the second quarter. Alps Advisors Inc. now owns 509,819 shares of the cell phone carrier’s stock valued at $28,468,000 after buying an additional 85,172 shares during the last quarter. Avalon Advisors LLC boosted its stake in Verizon Communications by 49.3% in the first quarter. Avalon Advisors LLC now owns 1,037,516 shares of the cell phone carrier’s stock valued at $56,109,000 after buying an additional 342,424 shares during the last quarter. Finally, Stuyvesant Capital Management boosted its stake in Verizon Communications by 0.4% in the second quarter. Stuyvesant Capital Management now owns 61,295 shares of the cell phone carrier’s stock valued at $3,423,000 after buying an additional 225 shares during the last quarter. 62.41% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Verizon Communications Inc. (NYSE:VZ) traded up 0.89% during mid-day trading on Monday, reaching $51.12. 15,926,265 shares of the company’s stock traded hands. The company’s 50 day moving average is $48.54 and its 200 day moving average is $51.87. The company has a market cap of $208.40 billion, a P/E ratio of 14.90 and a beta of 0.38. Verizon Communications Inc. has a 12-month low of $43.79 and a 12-month high of $56.95.

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

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 1st. Investors of record on Friday, October 7th were issued a dividend of $0.0125 per share. The ex-dividend date of this dividend was Wednesday, October 5th. This represents a $0.05 annualized dividend and a dividend yield of 0.10%. Verizon Communications’s dividend payout ratio (DPR) is presently 67.15%.

Several research firms recently issued reports on VZ. Drexel Hamilton raised Verizon Communications from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a research note on Monday, October 24th. Pacific Crest restated an “equal weight” rating on shares of Verizon Communications in a report on Sunday, October 23rd. FBR & Co restated an “outperform” rating and issued a $57.00 price objective on shares of Verizon Communications in a report on Sunday, October 23rd. Robert W. Baird restated a “neutral” rating and issued a $52.00 price objective (down from $55.00) on shares of Verizon Communications in a report on Sunday, October 23rd. Finally, Cowen and Company restated a “market perform” rating and issued a $50.00 price objective on shares of Verizon Communications in a report on Sunday, October 23rd. One investment 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 currently has a consensus rating of “Hold” and a consensus target price of $54.61.

In related news, EVP Craig L. Silliman sold 668 shares of the firm’s stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $49.29, for a total transaction of $32,925.72. Following the completion of the transaction, the executive vice president now owns 6,047 shares of the company’s stock, valued at $298,056.63. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Craig L. Silliman sold 672 shares of the firm’s stock in a transaction on Wednesday, October 26th. The stock was sold at an average price of $47.76, for a total transaction 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 disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

Verizon Communications Company Profile

Verizon Communications Inc (Verizon) is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. The Company offers voice, data and video services and solutions on its wireless and wireline networks.

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