Bronfman E.L. Rothschild L.P. grew its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 18.6% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 165,993 shares of the cell phone carrier’s stock after buying an additional 25,978 shares during the period. Verizon Communications makes up 0.9% of Bronfman E.L. Rothschild L.P.’s investment portfolio, making the stock its 19th biggest holding. Bronfman E.L. Rothschild L.P.’s holdings in Verizon Communications were worth $7,413,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Franklin Parlapiano Turner & Welch LLC acquired a new position in Verizon Communications in the first quarter worth about $136,000. American Beacon Advisors Inc. acquired a new position in Verizon Communications in the first quarter worth about $140,000. Proficio Capital Partners LLC raised its position in Verizon Communications by 139.8% in the first quarter. Proficio Capital Partners LLC now owns 3,158 shares of the cell phone carrier’s stock worth $142,000 after purchasing an additional 1,841 shares in the last quarter. Private Vista LLC raised its position in Verizon Communications by 3,339.1% in the second quarter. Private Vista LLC now owns 389,552 shares of the cell phone carrier’s stock worth $143,000 after purchasing an additional 378,225 shares in the last quarter. Finally, Camarda Financial Advisors LLC raised its position in Verizon Communications by 11.3% in the second quarter. Camarda Financial Advisors LLC now owns 3,749 shares of the cell phone carrier’s stock worth $167,000 after purchasing an additional 382 shares in the last quarter. 63.37% of the stock is owned by institutional investors and hedge funds.
Shares of Verizon Communications Inc. (NYSE:VZ) traded down $0.20 during midday trading on Wednesday, reaching $50.73. 9,428,208 shares of the company traded hands, compared to its average volume of 15,640,251. Verizon Communications Inc. has a fifty-two week low of $42.80 and a fifty-two week high of $54.83. The firm has a market capitalization of $206,580.00, a price-to-earnings ratio of 13.79, a P/E/G ratio of 4.86 and a beta of 0.57. The company has a debt-to-equity ratio of 4.05, a current ratio of 1.07 and a quick ratio of 1.02.
Several research analysts recently issued reports on the stock. ValuEngine raised shares of Verizon Communications from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Robert W. Baird reaffirmed a “hold” rating and set a $49.00 price objective on shares of Verizon Communications in a research note on Wednesday, October 4th. Macquarie reaffirmed a “hold” rating and set a $52.00 price objective on shares of Verizon Communications in a research note on Sunday, October 22nd. KeyCorp reaffirmed a “hold” rating on shares of Verizon Communications in a research note on Saturday, October 21st. Finally, Bank of America set a $52.00 price objective on shares of Verizon Communications and gave the stock a “buy” rating in a research note on Friday, October 20th. Two research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Verizon Communications has an average rating of “Hold” and a consensus price target of $51.25.
In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of the stock in a transaction on Monday, November 27th. The shares were sold at an average price of $47.41, for a total value of $28,920.10. Following the sale, the executive vice president now directly owns 3,269 shares in the company, valued at $154,983.29. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last quarter, insiders sold 1,830 shares of company stock worth $88,609. Company insiders own 0.13% of the company’s stock.
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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.
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