Verizon Communications Inc. (VZ) Holdings Raised by Middleton & Co Inc MA

Middleton & Co Inc MA raised its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 29.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 181,943 shares of the cell phone carrier’s stock after purchasing an additional 41,360 shares during the quarter. Verizon Communications accounts for 1.6% of Middleton & Co Inc MA’s portfolio, making the stock its 16th largest position. Middleton & Co Inc MA’s holdings in Verizon Communications were worth $9,005,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Oakmont Partners LLC lifted its holdings in Verizon Communications by 0.3% during the 2nd 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. lifted its holdings in shares of Verizon Communications by 0.5% in the 2nd quarter. Conservest Capital Advisors Inc. now owns 5,024 shares of the cell phone carrier’s stock worth $224,000 after purchasing an additional 23 shares during the last quarter. Regal Wealth Group Inc. lifted its holdings in shares of Verizon Communications by 0.7% in the 2nd quarter. Regal Wealth Group Inc. now owns 3,682 shares of the cell phone carrier’s stock worth $164,000 after purchasing an additional 24 shares during the last quarter. Glassman Wealth Services lifted its holdings in shares of Verizon Communications by 0.4% in the 2nd quarter. Glassman Wealth Services now owns 7,719 shares of the cell phone carrier’s stock worth $345,000 after purchasing an additional 31 shares during the last quarter. Finally, Nottingham Advisors Inc. lifted its holdings in shares of Verizon Communications by 0.5% in the 2nd quarter. Nottingham Advisors Inc. now owns 6,425 shares of the cell phone carrier’s stock worth $287,000 after purchasing an additional 35 shares during the last quarter. Hedge funds and other institutional investors own 63.21% of the company’s stock.

In other news, EVP Craig L. Silliman sold 610 shares of Verizon Communications stock in a transaction on Friday, October 27th. The stock was sold at an average price of $48.62, for a total transaction of $29,658.20. Following the transaction, the executive vice president now directly owns 5,989 shares in the company, valued at approximately $291,185.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.13% of the stock is owned by insiders.

Several analysts recently issued reports on the company. KeyCorp raised their price target on Verizon Communications from $50.00 to $53.00 and gave the stock a “sector weight” rating in a report on Tuesday, January 2nd. HSBC downgraded Verizon Communications from a “buy” rating to a “hold” rating and cut their price target for the stock from $54.83 to $42.80 in a report on Thursday, December 14th. They noted that the move was a valuation call. Instinet raised their price target on Verizon Communications from $47.00 to $61.00 and gave the stock a “buy” rating in a report on Tuesday, December 12th. Nomura raised Verizon Communications from a “neutral” rating to a “buy” rating and raised their price target for the stock from $47.00 to $61.00 in a report on Tuesday, December 12th. Finally, ValuEngine raised Verizon Communications from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Two equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $51.98.

Shares of Verizon Communications Inc. (NYSE:VZ) opened at $51.69 on Thursday. The company has a debt-to-equity ratio of 4.05, a quick ratio of 1.02 and a current ratio of 1.07. The firm has a market capitalization of $210,870.00, a price-to-earnings ratio of 13.25, a price-to-earnings-growth ratio of 4.80 and a beta of 0.57. Verizon Communications Inc. has a 12 month low of $42.80 and a 12 month high of $53.69.

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

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 4.57%. The ex-dividend date of this dividend is Tuesday, January 9th. Verizon Communications’s payout ratio is currently 60.51%.

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

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