Verizon Communications Inc. (VZ) Shares Sold by Triangle Securities Wealth Management

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Triangle Securities Wealth Management cut its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 4.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 45,265 shares of the cell phone carrier’s stock after selling 2,293 shares during the quarter. Verizon Communications makes up about 1.3% of Triangle Securities Wealth Management’s portfolio, making the stock its 22nd largest position. Triangle Securities Wealth Management’s holdings in Verizon Communications were worth $2,417,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of VZ. Cedar Hill Associates LLC lifted its position in shares of Verizon Communications by 7.7% during the second quarter. Cedar Hill Associates LLC now owns 13,539 shares of the cell phone carrier’s stock valued at $681,000 after purchasing an additional 968 shares in the last quarter. West Oak Capital LLC lifted its position in shares of Verizon Communications by 2.9% during the third quarter. West Oak Capital LLC now owns 34,650 shares of the cell phone carrier’s stock valued at $1,850,000 after purchasing an additional 970 shares in the last quarter. Bailard Inc. lifted its position in shares of Verizon Communications by 1.0% during the second quarter. Bailard Inc. now owns 99,356 shares of the cell phone carrier’s stock valued at $4,999,000 after purchasing an additional 977 shares in the last quarter. Live Your Vision LLC lifted its position in shares of Verizon Communications by 24.0% during the second quarter. Live Your Vision LLC now owns 5,166 shares of the cell phone carrier’s stock valued at $265,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Vantage Financial Partners Ltd. Inc. lifted its position in shares of Verizon Communications by 6.7% during the second quarter. Vantage Financial Partners Ltd. Inc. now owns 15,879 shares of the cell phone carrier’s stock valued at $799,000 after purchasing an additional 1,000 shares in the last quarter. 64.86% of the stock is currently owned by institutional investors and hedge funds.

Several research firms have recently weighed in on VZ. ValuEngine upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating in a research note on Friday. Morgan Stanley downgraded shares of Verizon Communications from an “overweight” rating to an “equal weight” rating and set a $58.00 target price for the company. in a research note on Wednesday, December 12th. JPMorgan Chase & Co. downgraded shares of Verizon Communications from an “overweight” rating to a “neutral” rating and set a $59.89 target price for the company. in a research note on Sunday, December 9th. Scotiabank set a $62.00 price objective on shares of Verizon Communications and gave the company a “buy” rating in a research report on Wednesday, October 24th. Finally, Barclays raised their price objective on shares of Verizon Communications from $50.00 to $53.00 and gave the company a “hold” rating in a research report on Wednesday, October 24th. Nine equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $55.86.

Shares of Verizon Communications stock opened at $54.92 on Friday. The firm has a market cap of $227.33 billion, a price-to-earnings ratio of 12.38, a P/E/G ratio of 2.65 and a beta of 0.49. Verizon Communications Inc. has a 12-month low of $46.08 and a 12-month high of $61.58. The company has a current ratio of 0.97, a quick ratio of 0.93 and a debt-to-equity ratio of 1.90.

Verizon Communications (NYSE:VZ) last posted its earnings results on Tuesday, October 23rd. The cell phone carrier reported $1.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.19 by $0.03. The business had revenue of $32.61 billion for the quarter, compared to analysts’ expectations of $32.45 billion. Verizon Communications had a net margin of 24.71% and a return on equity of 35.50%. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.98 EPS. On average, analysts forecast that Verizon Communications Inc. will post 4.68 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 1st. Stockholders of record on Thursday, January 10th will be given a dividend of $0.6025 per share. This represents a $2.41 annualized dividend and a dividend yield of 4.39%. The ex-dividend date is Wednesday, January 9th. Verizon Communications’s payout ratio is currently 64.44%.

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Verizon Communications Company Profile

Verizon Communications Inc, through its subsidiaries, offers communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company’s Wireless segment provides wireless voice and data services; Internet access on various notebook computers and tablets; multimedia, business-focused, and location-based services, as well as international travel services; and network access services to deliver various Internet of Things products and services.

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Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

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