Verizon Communications Inc. (NYSE:VZ) Shares Bought by Community Bank N.A.

Community Bank N.A. grew its position in Verizon Communications Inc. (NYSE:VZ) by 5.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 154,268 shares of the cell phone carrier’s stock after buying an additional 7,794 shares during the quarter. Verizon Communications accounts for about 1.8% of Community Bank N.A.’s portfolio, making the stock its 10th largest holding. Community Bank N.A.’s holdings in Verizon Communications were worth $9,311,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of VZ. Connecticut Wealth Management LLC grew its holdings in shares of Verizon Communications by 40.8% during the 3rd quarter. Connecticut Wealth Management LLC now owns 7,742 shares of the cell phone carrier’s stock valued at $467,000 after purchasing an additional 2,243 shares during the last quarter. Carderock Capital Management Inc. grew its holdings in shares of Verizon Communications by 9.7% during the 3rd quarter. Carderock Capital Management Inc. now owns 28,901 shares of the cell phone carrier’s stock valued at $1,744,000 after purchasing an additional 2,565 shares during the last quarter. Hollencrest Capital Management grew its holdings in shares of Verizon Communications by 0.4% during the 3rd quarter. Hollencrest Capital Management now owns 64,069 shares of the cell phone carrier’s stock valued at $3,867,000 after purchasing an additional 259 shares during the last quarter. Fiduciary Financial Services of The Southwest Inc. TX grew its holdings in shares of Verizon Communications by 5.4% during the 3rd quarter. Fiduciary Financial Services of The Southwest Inc. TX now owns 76,122 shares of the cell phone carrier’s stock valued at $4,595,000 after purchasing an additional 3,875 shares during the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of Verizon Communications by 3.7% during the 3rd quarter. Rhumbline Advisers now owns 7,719,952 shares of the cell phone carrier’s stock valued at $465,976,000 after purchasing an additional 273,896 shares during the last quarter. Institutional investors own 65.44% of the company’s stock.

In other Verizon Communications news, EVP Craig L. Silliman sold 1,349 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $60.14, for a total transaction of $81,128.86. Following the sale, the executive vice president now directly owns 21,332 shares of the company’s stock, valued at approximately $1,282,906.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Tami A. Erwin sold 17,000 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $57.75, for a total transaction of $981,750.00. Following the sale, the chief executive officer now directly owns 853 shares in the company, valued at $49,260.75. The disclosure for this sale can be found here. Insiders have sold a total of 21,047 shares of company stock worth $1,214,722 over the last three months. Insiders own 0.03% of the company’s stock.

VZ opened at $60.58 on Friday. Verizon Communications Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $61.58. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.87 and a quick ratio of 0.84. The firm has a market capitalization of $251.33 billion, a price-to-earnings ratio of 12.86, a PEG ratio of 3.05 and a beta of 0.53. The company’s 50 day moving average price is $59.97 and its two-hundred day moving average price is $57.90.

Verizon Communications (NYSE:VZ) last posted its earnings results on Thursday, August 1st. The cell phone carrier reported $1.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.03. Verizon Communications had a net margin of 12.08% and a return on equity of 34.91%. The firm had revenue of $32.07 billion for the quarter, compared to analyst estimates of $32.42 billion. During the same period in the previous year, the firm posted $1.20 EPS. The company’s revenue for the quarter was down .4% compared to the same quarter last year. As a group, equities research analysts predict that Verizon Communications Inc. will post 4.81 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be issued a dividend of $0.615 per share. This represents a $2.46 dividend on an annualized basis and a yield of 4.06%. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.60. The ex-dividend date is Wednesday, October 9th. Verizon Communications’s payout ratio is presently 52.23%.

Several equities research analysts recently issued reports on the stock. SunTrust Banks lifted their price target on shares of Verizon Communications from $61.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Citigroup set a $62.00 price target on shares of Verizon Communications and gave the company a “hold” rating in a report on Tuesday, September 10th. Zacks Investment Research raised shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a report on Monday, September 2nd. Oppenheimer raised shares of Verizon Communications from a “market perform” rating to an “outperform” rating and set a $70.00 price target on the stock in a report on Tuesday, August 27th. Finally, Nomura set a $65.00 price target on shares of Verizon Communications and gave the company a “buy” rating in a report on Wednesday, September 18th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Verizon Communications currently has a consensus rating of “Hold” and a consensus target price of $62.63.

Verizon Communications Company Profile

Verizon Communications Inc, through its subsidiaries, offers communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company's Wireless segment provides wireless voice and data services; Internet access on various notebook computers and tablets; international travel wireless services; and network access services to deliver various Internet of Things products and services, as well as offers digital advertising and digital media services platforms.

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

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