Verizon Communications Inc. (NYSE:VZ) Shares Sold by KAMES CAPITAL plc

KAMES CAPITAL plc cut its position in Verizon Communications Inc. (NYSE:VZ) by 18.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 23,052 shares of the cell phone carrier’s stock after selling 5,315 shares during the period. KAMES CAPITAL plc’s holdings in Verizon Communications were worth $1,124,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of VZ. Moloney Securities Asset Management LLC boosted its position in shares of Verizon Communications by 2.6% in the first quarter. Moloney Securities Asset Management LLC now owns 36,381 shares of the cell phone carrier’s stock worth $1,774,000 after buying an additional 918 shares during the last quarter. iAB Financial Bank boosted its position in shares of Verizon Communications by 8.2% in the first quarter. iAB Financial Bank now owns 72,194 shares of the cell phone carrier’s stock worth $3,519,000 after buying an additional 5,495 shares during the last quarter. Benedict Financial Advisors Inc. boosted its position in shares of Verizon Communications by 3.3% in the first quarter. Benedict Financial Advisors Inc. now owns 56,172 shares of the cell phone carrier’s stock worth $2,738,000 after buying an additional 1,781 shares during the last quarter. Argyle Capital Management Inc. boosted its position in shares of Verizon Communications by 1.1% in the first quarter. Argyle Capital Management Inc. now owns 91,279 shares of the cell phone carrier’s stock worth $4,450,000 after buying an additional 1,026 shares during the last quarter. Finally, Palo Capital Inc. boosted its position in shares of Verizon Communications by 2.5% in the first quarter. Palo Capital Inc. now owns 101,270 shares of the cell phone carrier’s stock worth $4,937,000 after buying an additional 2,432 shares during the last quarter. 62.33% of the stock is owned by institutional investors and hedge funds.

Verizon Communications Inc. (NYSE VZ) traded down 0.42% on Friday, hitting $47.69. 16,919,130 shares of the company traded hands. Verizon Communications Inc. has a 12 month low of $42.80 and a 12 month high of $54.83. The stock’s 50-day moving average is $46.01 and its 200 day moving average is $47.29. The firm has a market capitalization of $194.55 billion, a P/E ratio of 12.26 and a beta of 0.56.

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

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Monday, July 10th were issued a $0.5775 dividend. The ex-dividend date was Thursday, July 6th. This represents a $2.31 annualized dividend and a yield of 4.84%. Verizon Communications’s dividend payout ratio (DPR) is 59.23%.

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A number of research firms recently commented on VZ. TheStreet raised shares of Verizon Communications from a “c+” rating to a “b-” rating in a research note on Tuesday, August 8th. BidaskClub raised shares of Verizon Communications from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. Royal Bank Of Canada lifted their price target on shares of Verizon Communications from $48.00 to $50.00 and gave the stock a “sector perform” rating in a research note on Monday, July 31st. Cowen and Company reaffirmed a “hold” rating and set a $52.00 price target on shares of Verizon Communications in a research note on Friday, July 28th. Finally, Barclays PLC dropped their price target on shares of Verizon Communications from $49.00 to $47.00 and set an “equal weight” rating for the company in a research note on Friday, July 14th. Two investment analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $52.73.

In related news, EVP Craig L. Silliman sold 610 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $45.34, for a total value of $27,657.40. Following the sale, the executive vice president now owns 9,039 shares of the company’s stock, valued at $409,828.26. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders sold 1,830 shares of company stock worth $84,229. 0.13% of the stock is owned by corporate insiders.

About Verizon Communications

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)

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