Nottingham Advisors Inc. Sells 450 Shares of Verizon Communications Inc. (NYSE:VZ)

Nottingham Advisors Inc. lowered its position in Verizon Communications Inc. (NYSE:VZ) by 6.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,390 shares of the cell phone carrier’s stock after selling 450 shares during the period. Nottingham Advisors Inc.’s holdings in Verizon Communications were worth $312,000 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 recently made changes to their positions in VZ. Portfolio Solutions LLC purchased a new position in shares of Verizon Communications during the first quarter worth approximately $179,000. Feltz Wealth PLAN Inc. purchased a new position in shares of Verizon Communications during the first quarter worth approximately $184,000. Mascoma Wealth Management LLC increased its position in shares of Verizon Communications by 10.5% during the first quarter. Mascoma Wealth Management LLC now owns 4,227 shares of the cell phone carrier’s stock worth $206,000 after acquiring an additional 403 shares during the period. Strategic Financial Group LLC increased its position in shares of Verizon Communications by 2.3% during the first quarter. Strategic Financial Group LLC now owns 4,356 shares of the cell phone carrier’s stock worth $212,000 after acquiring an additional 100 shares during the period. Finally, Hays Advisory LLC increased its position in shares of Verizon Communications by 11.8% during the first quarter. Hays Advisory LLC now owns 4,479 shares of the cell phone carrier’s stock worth $218,000 after acquiring an additional 474 shares during the period. 62.33% of the stock is owned by institutional investors and hedge funds.

In related news, EVP Craig L. Silliman sold 610 shares of the firm’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $47.74, for a total value of $29,121.40. Following the completion of the sale, the executive vice president now owns 7,819 shares in the company, valued at $373,279.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 1,830 shares of company stock valued at $86,248 in the last quarter. Company insiders own 0.13% of the company’s stock.

Several equities analysts recently issued reports on the stock. Vetr raised shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $47.44 price objective on the stock in a report on Wednesday, June 21st. Cowen and Company reissued a “hold” rating and set a $49.00 price objective on shares of Verizon Communications in a report on Wednesday, July 19th. ValuEngine lowered shares of Verizon Communications from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Zacks Investment Research lowered shares of Verizon Communications from a “hold” rating to a “sell” rating in a report on Tuesday, June 20th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $50.00 price objective on shares of Verizon Communications in a report on Monday, July 3rd. Two analysts have rated the stock with a sell rating, twenty-one have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Verizon Communications presently has an average rating of “Hold” and an average price target of $53.00.

Verizon Communications Inc. (NYSE VZ) traded up 1.44% during mid-day trading on Friday, hitting $47.86. 24,626,478 shares of the stock were exchanged. Verizon Communications Inc. has a one year low of $42.80 and a one year high of $54.83. The company has a market cap of $195.24 billion, a P/E ratio of 12.30 and a beta of 0.57. The company has a 50-day moving average price of $47.97 and a 200-day moving average price of $47.12.

Verizon Communications (NYSE:VZ) last released its earnings results on Thursday, July 27th. The cell phone carrier reported $0.96 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.96. Verizon Communications had a net margin of 12.88% and a return on equity of 63.06%. The company had revenue of $30.55 billion during the quarter, compared to analysts’ expectations of $29.84 billion. During the same quarter last year, the business earned $0.94 EPS. The business’s revenue was up .1% on a year-over-year basis. Analysts forecast that Verizon Communications Inc. will post $3.78 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th will be paid a $0.59 dividend. This is a boost from Verizon Communications’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Friday, October 6th. This represents a $2.36 annualized dividend and a dividend yield of 4.93%. Verizon Communications’s dividend payout ratio (DPR) is 59.23%.

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Verizon Communications Company Profile

Verizon Communications Inc is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. Its segments include Wireless and Wireline. The Wireless segment offers communications products and services, including wireless voice and data services and equipment sales, to consumer, business and government customers across the United States.

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

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