Winthrop Advisory Group LLC Has $441,000 Stock Holdings in Verizon Communications Inc. (NYSE:VZ)

Winthrop Advisory Group LLC trimmed its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 3.2% during the third quarter, Holdings Channel.com reports. The fund owned 8,170 shares of the cell phone carrier’s stock after selling 270 shares during the quarter. Winthrop Advisory Group LLC’s holdings in Verizon Communications were worth $441,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the stock. Lion Street Advisors LLC bought a new position in Verizon Communications in the 2nd quarter valued at about $25,000. Anfield Capital Management LLC bought a new position in Verizon Communications in the 2nd quarter valued at about $32,000. Vigilant Capital Management LLC increased its holdings in Verizon Communications by 313.3% in the 2nd quarter. Vigilant Capital Management LLC now owns 620 shares of the cell phone carrier’s stock valued at $35,000 after buying an additional 470 shares during the period. Baldrige Asset Management LLC bought a new position in Verizon Communications in the 2nd quarter valued at about $37,000. Finally, West Financial Advisors LLC increased its holdings in Verizon Communications by 197.6% in the 3rd quarter. West Financial Advisors LLC now owns 753 shares of the cell phone carrier’s stock valued at $41,000 after buying an additional 500 shares during the period. 63.61% of the stock is currently owned by institutional investors and hedge funds.

NYSE:VZ traded down $0.09 during mid-day trading on Thursday, hitting $51.66. 15,474,541 shares of the company’s stock were exchanged, compared to its average volume of 17,699,629. The company has a 50 day simple moving average of $52.94 and a 200-day simple moving average of $55.02. The company has a current ratio of 0.97, a quick ratio of 0.92 and a debt-to-equity ratio of 1.83. Verizon Communications Inc. has a fifty-two week low of $50.65 and a fifty-two week high of $61.95. The firm has a market capitalization of $213.88 billion, a P/E ratio of 9.69, a PEG ratio of 3.06 and a beta of 0.43.

Verizon Communications (NYSE:VZ) last posted its earnings results on Tuesday, October 19th. The cell phone carrier reported $1.41 EPS for the quarter, topping the consensus estimate of $1.36 by $0.05. The business had revenue of $32.90 billion for the quarter, compared to the consensus estimate of $33.24 billion. Verizon Communications had a net margin of 16.42% and a return on equity of 29.72%. The firm’s revenue was up 4.4% compared to the same quarter last year. During the same period last year, the company earned $1.25 EPS. As a group, analysts expect that Verizon Communications Inc. will post 5.37 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, November 1st. Stockholders of record on Friday, October 8th were given a $0.64 dividend. The ex-dividend date of this dividend was Thursday, October 7th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 4.96%. This is an increase from Verizon Communications’s previous quarterly dividend of $0.63. Verizon Communications’s payout ratio is 48.03%.

In other news, EVP Craig L. Silliman sold 1,554 shares of the business’s stock in a transaction that occurred on Tuesday, September 7th. The shares were sold at an average price of $55.38, for a total value of $86,060.52. Following the transaction, the executive vice president now owns 28,469 shares in the company, valued at approximately $1,576,613.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 4,662 shares of company stock worth $252,898 in the last 90 days. Corporate insiders own 0.10% of the company’s stock.

Several research firms have commented on VZ. Loop Capital began coverage on shares of Verizon Communications in a report on Monday, September 20th. They issued a “hold” rating and a $57.00 target price on the stock. Raymond James reaffirmed a “buy” rating and set a $64.00 price target on shares of Verizon Communications in a report on Tuesday, September 28th. Wells Fargo & Company decreased their price target on shares of Verizon Communications from $58.00 to $56.00 and set an “equal weight” rating on the stock in a report on Thursday, October 21st. Cowen lifted their price target on shares of Verizon Communications from $68.00 to $71.00 and gave the company an “outperform” rating in a report on Thursday, October 21st. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Verizon Communications in a report on Tuesday, October 19th. They set a “hold” rating and a $55.00 price target on the stock. One analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Verizon Communications has an average rating of “Hold” and a consensus target price of $60.00.

Verizon Communications Company Profile

Verizon Communications, Inc is a holding company, which engages in the provision of communications, information, and entertainment products and services to consumers, businesses, and governmental agencies. It operates through the Verizon Consumer Group (Consumer) and Verizon Business Group (Business) segments.

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

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