Winfield Associates Inc. Reduces Position in Verizon Communications Inc. (NYSE:VZ)

Winfield Associates Inc. cut its holdings in shares of Verizon Communications Inc. (NYSE:VZGet Rating) by 19.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,813 shares of the cell phone carrier’s stock after selling 2,850 shares during the period. Winfield Associates Inc.’s holdings in Verizon Communications were worth $614,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of VZ. Rhumbline Advisers lifted its holdings in shares of Verizon Communications by 1.5% in the 4th quarter. Rhumbline Advisers now owns 6,948,353 shares of the cell phone carrier’s stock worth $361,036,000 after acquiring an additional 104,721 shares during the last quarter. L2 Asset Management LLC purchased a new position in shares of Verizon Communications in the 4th quarter valued at $364,000. Richmond Brothers Inc. purchased a new position in shares of Verizon Communications in the 4th quarter valued at $883,000. Summitry LLC grew its position in Verizon Communications by 4.1% during the 4th quarter. Summitry LLC now owns 61,982 shares of the cell phone carrier’s stock worth $3,221,000 after purchasing an additional 2,444 shares during the last quarter. Finally, Boyar Asset Management Inc. grew its position in Verizon Communications by 9.4% during the 4th quarter. Boyar Asset Management Inc. now owns 13,295 shares of the cell phone carrier’s stock worth $691,000 after purchasing an additional 1,140 shares during the last quarter. Institutional investors own 63.78% of the company’s stock.

Several analysts have recently commented on the stock. DZ Bank cut shares of Verizon Communications from a “hold” rating to a “sell” rating and set a $44.00 target price for the company. in a research note on Friday, April 29th. StockNews.com upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating in a research report on Thursday. JPMorgan Chase & Co. downgraded shares of Verizon Communications from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $62.00 to $56.00 in a report on Wednesday, January 26th. William Blair reiterated a “market perform” rating on shares of Verizon Communications in a report on Monday, April 25th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Verizon Communications from $56.00 to $57.00 in a report on Tuesday, January 25th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $57.93.

Shares of NYSE:VZ traded up $0.12 on Friday, hitting $48.18. The stock had a trading volume of 21,078,604 shares, compared to its average volume of 26,267,076. Verizon Communications Inc. has a twelve month low of $45.55 and a twelve month high of $59.26. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.69 and a current ratio of 0.76. The firm’s 50 day moving average price is $51.22 and its 200-day moving average price is $52.14. The company has a market capitalization of $202.34 billion, a price-to-earnings ratio of 9.36, a price-to-earnings-growth ratio of 2.47 and a beta of 0.42.

Verizon Communications (NYSE:VZGet Rating) last issued its quarterly earnings results on Friday, April 22nd. The cell phone carrier reported $1.35 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.35. The business had revenue of $33.60 billion for the quarter, compared to the consensus estimate of $33.61 billion. Verizon Communications had a net margin of 15.93% and a return on equity of 28.15%. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.31 EPS. As a group, sell-side analysts predict that Verizon Communications Inc. will post 5.4 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 2nd. Investors of record on Friday, April 8th were given a $0.64 dividend. The ex-dividend date was Thursday, April 7th. This represents a $2.56 annualized dividend and a dividend yield of 5.31%. Verizon Communications’s dividend payout ratio is presently 49.71%.

In related news, CEO Tami A. Erwin sold 23,647 shares of the firm’s stock in a transaction on Tuesday, April 26th. The stock was sold at an average price of $49.77, for a total value of $1,176,911.19. Following the transaction, the chief executive officer now owns 21,817 shares in the company, valued at $1,085,832.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Craig L. Silliman sold 1,558 shares of the firm’s stock in a transaction dated Monday, April 4th. The shares were sold at an average price of $52.00, for a total value of $81,016.00. Following the completion of the sale, the executive vice president now directly owns 38,077 shares in the company, valued at $1,980,004. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,763 shares of company stock valued at $1,342,807. Insiders own 0.10% of the company’s stock.

Verizon Communications Company Profile (Get Rating)

Verizon Communications Inc, through its subsidiaries, offers communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. Its Consumer segment provides postpaid and prepaid service plans; internet access on notebook computers and tablets; wireless equipment, including smartphones and other handsets; and wireless-enabled internet devices, such as tablets, and other wireless-enabled connected devices comprising smart watches.

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

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