Nichols & Pratt Advisers LLP MA Purchases 6,070 Shares of Verizon Communications Inc. (VZ)

Nichols & Pratt Advisers LLP MA boosted its position in Verizon Communications Inc. (NYSE:VZ) by 2.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 268,362 shares of the cell phone carrier’s stock after purchasing an additional 6,070 shares during the quarter. Nichols & Pratt Advisers LLP MA’s holdings in Verizon Communications were worth $11,988,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp grew its holdings in Verizon Communications by 1.2% in the 1st quarter. State Street Corp now owns 168,115,884 shares of the cell phone carrier’s stock valued at $8,195,661,000 after buying an additional 2,066,816 shares in the last quarter. Harbour Capital Advisors LLC grew its holdings in Verizon Communications by 3,914.3% in the 2nd quarter. Harbour Capital Advisors LLC now owns 1,310,548 shares of the cell phone carrier’s stock valued at $29,345,000 after buying an additional 1,277,901 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in Verizon Communications by 7.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 19,403,560 shares of the cell phone carrier’s stock valued at $866,563,000 after buying an additional 1,277,604 shares in the last quarter. Flossbach Von Storch AG grew its holdings in Verizon Communications by 139.2% in the 2nd quarter. Flossbach Von Storch AG now owns 1,982,895 shares of the cell phone carrier’s stock valued at $88,556,000 after buying an additional 1,153,770 shares in the last quarter. Finally, Beutel Goodman & Co Ltd. grew its holdings in Verizon Communications by 22.5% in the 2nd quarter. Beutel Goodman & Co Ltd. now owns 5,339,889 shares of the cell phone carrier’s stock valued at $183,686,000 after buying an additional 981,409 shares in the last quarter. 63.37% of the stock is owned by hedge funds and other institutional investors.

In related news, EVP Craig L. Silliman sold 610 shares of the firm’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $47.41, for a total transaction of $28,920.10. Following the completion of the transaction, the executive vice president now directly owns 3,269 shares in the company, valued at approximately $154,983.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 1,830 shares of company stock valued at $88,609 over the last 90 days. 0.13% of the stock is currently owned by company insiders.

Several analysts have issued reports on VZ shares. TheStreet upgraded Verizon Communications from a “c+” rating to a “b-” rating in a report on Tuesday, August 8th. Cowen restated a “hold” rating and issued a $52.00 target price on shares of Verizon Communications in a report on Tuesday, September 19th. Robert W. Baird restated a “hold” rating and issued a $49.00 target price on shares of Verizon Communications in a report on Wednesday, October 4th. KeyCorp restated a “hold” rating on shares of Verizon Communications in a report on Wednesday, October 11th. Finally, Moffett Nathanson reiterated a “buy” rating on shares of Verizon Communications in a report on Thursday, October 12th. Two research analysts have rated the stock with a sell rating, nineteen have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $51.25.

Verizon Communications Inc. (NYSE:VZ) traded down $0.88 during midday trading on Tuesday, hitting $50.84. The stock had a trading volume of 14,066,732 shares, compared to its average volume of 15,631,953. The stock has a market cap of $209,071.34, a PE ratio of 13.67, a PEG ratio of 4.81 and a beta of 0.57. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 4.05. Verizon Communications Inc. has a fifty-two week low of $42.80 and a fifty-two week high of $54.83.

Verizon Communications (NYSE:VZ) last announced its earnings results on Thursday, October 19th. The cell phone carrier reported $0.98 EPS for the quarter, meeting analysts’ consensus estimates of $0.98. Verizon Communications had a return on equity of 58.66% and a net margin of 12.80%. The company had revenue of $31.70 billion during the quarter, compared to analysts’ expectations of $31.45 billion. During the same period last year, the business posted $1.01 EPS. Verizon Communications’s revenue for the quarter was up 2.5% on a year-over-year basis. analysts expect that Verizon Communications Inc. will post 3.77 EPS for the current fiscal year.

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Verizon Communications 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.

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

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