Verizon Communications Inc. (NYSE:VZ) Shares Sold by Symmetry Partners LLC

Symmetry Partners LLC lowered its position in shares of Verizon Communications Inc. (NYSE:VZGet Rating) by 2.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 54,213 shares of the cell phone carrier’s stock after selling 1,372 shares during the period. Symmetry Partners LLC’s holdings in Verizon Communications were worth $2,751,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of VZ. True North Advisors LLC bought a new position in shares of Verizon Communications during the fourth quarter worth about $364,000. Asset Allocation & Management Company LLC bought a new position in shares of Verizon Communications during the fourth quarter worth about $281,000. Alberta Investment Management Corp grew its position in shares of Verizon Communications by 39.1% during the fourth quarter. Alberta Investment Management Corp now owns 767,842 shares of the cell phone carrier’s stock worth $39,897,000 after acquiring an additional 215,742 shares during the last quarter. KRS Capital Management LLC bought a new position in Verizon Communications in the 4th quarter valued at about $437,000. Finally, Invesco Ltd. grew its position in Verizon Communications by 2.5% in the 4th quarter. Invesco Ltd. now owns 21,755,236 shares of the cell phone carrier’s stock valued at $1,130,403,000 after buying an additional 524,481 shares in the last quarter. Institutional investors own 62.83% of the company’s stock.

Verizon Communications Price Performance

VZ stock opened at $41.25 on Monday. The company has a current ratio of 0.76, a quick ratio of 0.69 and a debt-to-equity ratio of 1.56. Verizon Communications Inc. has a one year low of $40.66 and a one year high of $55.51. The firm has a market capitalization of $173.24 billion, a PE ratio of 8.27, a P/E/G ratio of 1.91 and a beta of 0.36. The firm has a 50-day moving average of $44.82 and a two-hundred day moving average of $48.87.

Verizon Communications (NYSE:VZGet Rating) last posted its quarterly earnings data on Friday, July 22nd. The cell phone carrier reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). Verizon Communications had a net margin of 15.48% and a return on equity of 26.95%. The firm had revenue of $33.79 billion for the quarter, compared to analysts’ expectations of $33.77 billion. During the same period in the prior year, the company posted $1.37 earnings per share. Verizon Communications’s quarterly revenue was up .1% compared to the same quarter last year. On average, analysts forecast that Verizon Communications Inc. will post 5.19 earnings per share for the current year.

Verizon Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, October 7th will be paid a dividend of $0.6525 per share. The ex-dividend date of this dividend is Thursday, October 6th. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.64. This represents a $2.61 dividend on an annualized basis and a yield of 6.33%. Verizon Communications’s dividend payout ratio is currently 51.30%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. reiterated a “hold” rating and issued a $57.00 target price on shares of Verizon Communications in a research report on Friday, June 24th. UBS Group decreased their target price on shares of Verizon Communications from $57.00 to $47.00 and set a “neutral” rating for the company in a research report on Monday, July 25th. Credit Suisse Group decreased their target price on shares of Verizon Communications from $58.00 to $54.00 and set a “neutral” rating for the company in a research report on Tuesday, June 21st. Royal Bank of Canada decreased their target price on shares of Verizon Communications from $57.00 to $54.00 and set a “sector perform” rating for the company in a research report on Wednesday, June 22nd. Finally, Bank of America lowered shares of Verizon Communications from a “buy” rating to a “neutral” rating and decreased their target price for the company from $64.00 to $51.00 in a research report on Thursday, July 28th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Verizon Communications currently has a consensus rating of “Hold” and a consensus price target of $55.68.

Insider Buying and Selling at Verizon Communications

In other news, EVP Craig L. Silliman sold 1,558 shares of the stock in a transaction that occurred on Tuesday, July 5th. The shares were sold at an average price of $51.42, for a total value of $80,112.36. Following the completion of the sale, the executive vice president now directly owns 33,403 shares of the company’s stock, valued at $1,717,582.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.10% of the company’s stock.

About Verizon Communications

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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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