Asset Dedication LLC Sells 3,331 Shares of Verizon Communications Inc. (NYSE:VZ)

Asset Dedication LLC cut its position in shares of Verizon Communications Inc. (NYSE:VZ) by 15.2% during the second quarter, according to its most recent filing with the SEC. The firm owned 18,562 shares of the cell phone carrier’s stock after selling 3,331 shares during the period. Asset Dedication LLC’s holdings in Verizon Communications were worth $835,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Ronna Sue Cohen raised its position in shares of Verizon Communications by 0.4% in the second quarter. Ronna Sue Cohen now owns 4,832 shares of the cell phone carrier’s stock worth $216,000 after buying an additional 19 shares during the period. Oakmont Partners LLC raised its position in shares of Verizon Communications by 0.3% in the second quarter. Oakmont Partners LLC now owns 6,391 shares of the cell phone carrier’s stock worth $285,000 after buying an additional 22 shares during the last quarter. Conservest Capital Advisors Inc. raised its position in shares of Verizon Communications by 0.5% in the second quarter. Conservest Capital Advisors Inc. now owns 5,024 shares of the cell phone carrier’s stock worth $224,000 after buying an additional 23 shares during the last quarter. Nottingham Advisors Inc. raised its position in shares of Verizon Communications by 0.5% in the second quarter. Nottingham Advisors Inc. now owns 6,425 shares of the cell phone carrier’s stock worth $287,000 after buying an additional 35 shares during the last quarter. Finally, Cobblestone Capital Advisors LLC NY raised its position in shares of Verizon Communications by 0.3% in the first quarter. Cobblestone Capital Advisors LLC NY now owns 19,401 shares of the cell phone carrier’s stock worth $946,000 after buying an additional 50 shares during the last quarter. Institutional investors and hedge funds own 62.35% of the company’s stock.

Shares of Verizon Communications Inc. (NYSE VZ) opened at 48.06 on Friday. The stock has a market capitalization of $196.06 billion, a P/E ratio of 12.35 and a beta of 0.56. Verizon Communications Inc. has a 12 month low of $42.80 and a 12 month high of $54.83. The company’s 50-day moving average is $45.56 and its 200 day moving average is $47.34.

Verizon Communications (NYSE:VZ) last announced its earnings results on Thursday, July 27th. The cell phone carrier reported $0.96 earnings per share for the quarter, meeting the consensus estimate of $0.96. Verizon Communications had a return on equity of 63.06% and a net margin of 12.88%. The company had revenue of $30.55 billion for the quarter, compared to the consensus estimate of $29.84 billion. During the same period last year, the business posted $0.94 EPS. The company’s revenue was up .1% on a year-over-year basis. Equities research analysts predict that Verizon Communications Inc. will post $3.79 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were given a dividend of $0.5775 per share. The ex-dividend date was Thursday, July 6th. This represents a $2.31 dividend on an annualized basis and a yield of 4.81%. Verizon Communications’s payout ratio is 59.23%.

TRADEMARK VIOLATION NOTICE: This piece was originally published by Community Financial News and is the sole property of of Community Financial News. If you are accessing this piece on another publication, it was illegally stolen and republished in violation of U.S. & international copyright & trademark legislation. The correct version of this piece can be viewed at https://www.com-unik.info/2017/08/12/verizon-communications-inc-nysevz-stake-decreased-by-asset-dedication-llc-updated-updated.html.

VZ has been the topic of several analyst reports. SunTrust Banks, Inc. began coverage on shares of Verizon Communications in a research note on Tuesday, April 18th. They set a “hold” rating and a $50.00 price target for the company. Argus downgraded shares of Verizon Communications from a “buy” rating to a “hold” rating in a research note on Friday, April 21st. Royal Bank Of Canada reissued a “hold” rating and set a $48.00 target price on shares of Verizon Communications in a research note on Friday, April 21st. Macquarie reissued a “neutral” rating and set a $49.00 target price (down previously from $50.00) on shares of Verizon Communications in a research note on Sunday, April 23rd. Finally, Jefferies Group LLC reissued a “hold” rating and set a $50.00 target price (down previously from $51.00) on shares of Verizon Communications in a research note on Sunday, April 23rd. Two equities research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Verizon Communications currently has an average rating of “Hold” and an average target price of $52.73.

In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of the business’s stock in a transaction on Friday, July 28th. The stock was sold at an average price of $47.74, for a total transaction of $29,121.40. Following the sale, the executive vice president now directly owns 7,819 shares in the company, valued at $373,279.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders have sold 1,830 shares of company stock worth $84,229. 0.13% of the stock is owned by company insiders.

Verizon Communications Company Profile

Verizon Communications Inc is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. Its segments include Wireless and Wireline. The Wireless segment offers communications products and services, including wireless voice and data services and equipment sales, to consumer, business and government customers across the United States.

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

What are top analysts saying about Verizon Communications Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Verizon Communications Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit