Cullinan Associates Inc. Grows Stock Holdings in Verizon Communications Inc. (NYSE:VZ)

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Cullinan Associates Inc. grew its holdings in Verizon Communications Inc. (NYSE:VZ) by 3.1% during the fourth quarter, HoldingsChannel reports. The firm owned 191,627 shares of the cell phone carrier’s stock after acquiring an additional 5,715 shares during the period. Verizon Communications comprises about 0.8% of Cullinan Associates Inc.’s investment portfolio, making the stock its 29th biggest holding. Cullinan Associates Inc.’s holdings in Verizon Communications were worth $11,766,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in VZ. Financial Gravity Wealth Inc. increased its holdings in Verizon Communications by 4.5% in the 3rd quarter. Financial Gravity Wealth Inc. now owns 3,942 shares of the cell phone carrier’s stock valued at $238,000 after purchasing an additional 169 shares during the last quarter. Albert D Mason Inc. increased its holdings in Verizon Communications by 0.7% in the 3rd quarter. Albert D Mason Inc. now owns 23,439 shares of the cell phone carrier’s stock valued at $1,415,000 after purchasing an additional 170 shares during the last quarter. SMH Capital Advisors Inc. increased its holdings in Verizon Communications by 4.6% in the 3rd quarter. SMH Capital Advisors Inc. now owns 3,919 shares of the cell phone carrier’s stock valued at $237,000 after purchasing an additional 172 shares during the last quarter. Nadler Financial Group Inc. increased its holdings in Verizon Communications by 1.2% in the 3rd quarter. Nadler Financial Group Inc. now owns 15,114 shares of the cell phone carrier’s stock valued at $912,000 after purchasing an additional 174 shares during the last quarter. Finally, Murphy Middleton Hinkle & Parker Inc. increased its holdings in Verizon Communications by 0.5% in the 4th quarter. Murphy Middleton Hinkle & Parker Inc. now owns 33,596 shares of the cell phone carrier’s stock valued at $2,063,000 after purchasing an additional 180 shares during the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

NYSE:VZ opened at $59.10 on Thursday. The company has a fifty day simple moving average of $60.64 and a two-hundred day simple moving average of $59.01. The company has a market cap of $243.97 billion, a price-to-earnings ratio of 12.55, a price-to-earnings-growth ratio of 3.71 and a beta of 0.51. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 1.99. Verizon Communications Inc. has a 52 week low of $52.28 and a 52 week high of $62.22.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Friday, October 25th. The cell phone carrier reported $1.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.24 by $0.01. The business had revenue of $32.89 billion during the quarter, compared to the consensus estimate of $32.74 billion. Verizon Communications had a net margin of 12.26% and a return on equity of 34.50%. The company’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.22 earnings per share. On average, analysts expect that Verizon Communications Inc. will post 4.83 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be paid a $0.615 dividend. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $2.46 annualized dividend and a dividend yield of 4.16%. Verizon Communications’s dividend payout ratio (DPR) is 52.23%.

Several research firms recently weighed in on VZ. HSBC downgraded shares of Verizon Communications from a “buy” rating to a “hold” rating and set a $65.00 target price for the company. in a report on Thursday, November 14th. Nomura downgraded shares of Verizon Communications from a “buy” rating to a “neutral” rating and dropped their target price for the company from $67.00 to $65.00 in a report on Monday, November 4th. SunTrust Banks lifted their target price 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. Zacks Investment Research downgraded shares of Verizon Communications from a “buy” rating to a “hold” rating and set a $62.00 target price for the company. in a report on Saturday, January 11th. Finally, ValuEngine upgraded shares of Verizon Communications from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $63.44.

In related news, EVP Craig L. Silliman sold 1,349 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $60.42, for a total transaction of $81,506.58. Following the completion of the transaction, the executive vice president now owns 19,983 shares in the company, valued at $1,207,372.86. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Craig L. Silliman sold 1,346 shares of the business’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $59.55, for a total transaction of $80,154.30. Following the transaction, the executive vice president now owns 18,637 shares of the company’s stock, valued at approximately $1,109,833.35. The disclosure for this sale can be found here. Insiders own 0.03% of the company’s stock.

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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