Accredited Investors Inc. Increases Holdings in Verizon Communications Inc. (NYSE:VZ)

Accredited Investors Inc. raised its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 356.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 40,436 shares of the cell phone carrier’s stock after purchasing an additional 31,576 shares during the period. Verizon Communications accounts for 0.6% of Accredited Investors Inc.’s portfolio, making the stock its 21st largest position. Accredited Investors Inc.’s holdings in Verizon Communications were worth $2,001,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sterneck Capital Management LLC increased its position in shares of Verizon Communications by 14.0% during the first quarter. Sterneck Capital Management LLC now owns 115,709 shares of the cell phone carrier’s stock valued at $5,641,000 after acquiring an additional 14,228 shares in the last quarter. National Asset Management Inc. increased its position in shares of Verizon Communications by 1.7% during the first quarter. National Asset Management Inc. now owns 80,410 shares of the cell phone carrier’s stock valued at $3,924,000 after acquiring an additional 1,350 shares in the last quarter. Shelton Capital Management increased its position in shares of Verizon Communications by 58.8% during the first quarter. Shelton Capital Management now owns 158,246 shares of the cell phone carrier’s stock valued at $7,714,000 after acquiring an additional 58,576 shares in the last quarter. Flaharty Asset Management LLC bought a new stake in shares of Verizon Communications during the first quarter valued at approximately $203,000. Finally, Sterling Investment Advisors Ltd. increased its position in shares of Verizon Communications by 5.1% during the first quarter. Sterling Investment Advisors Ltd. now owns 69,133 shares of the cell phone carrier’s stock valued at $3,370,000 after acquiring an additional 3,375 shares in the last quarter. 63.22% of the stock is owned by institutional investors and hedge funds.

Shares of Verizon Communications Inc. (NYSE:VZ) traded down $0.25 during trading on Monday, hitting $51.86. 17,673,600 shares of the stock traded hands, compared to its average volume of 14,982,733. The stock has a market cap of $211,560.00, a PE ratio of 13.30, a PEG ratio of 4.68 and a beta of 0.57. Verizon Communications Inc. has a 1-year low of $42.80 and a 1-year high of $53.69. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 4.05.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Thursday, October 19th. The cell phone carrier reported $0.98 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.98. The business had revenue of $31.70 billion for the quarter, compared to analysts’ expectations of $31.45 billion. Verizon Communications had a net margin of 12.80% and a return on equity of 58.66%. The company’s revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.01 EPS. equities research analysts expect that Verizon Communications Inc. will post 3.77 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Wednesday, January 10th will be paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.55%. The ex-dividend date of this dividend is Tuesday, January 9th. Verizon Communications’s dividend payout ratio (DPR) is 60.51%.

In related news, EVP Craig L. Silliman sold 610 shares of Verizon Communications stock in a transaction on Friday, October 27th. The shares were sold at an average price of $48.62, for a total transaction of $29,658.20. Following the transaction, the executive vice president now owns 5,989 shares in the company, valued at approximately $291,185.18. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.13% of the stock is currently owned by insiders.

VZ has been the subject of several analyst reports. Cowen reissued a “hold” rating and set a $52.00 price target on shares of Verizon Communications in a research report on Tuesday, September 19th. Robert W. Baird restated a “hold” rating and issued a $49.00 target price on shares of Verizon Communications in a report on Wednesday, October 4th. KeyCorp restated a “hold” rating on shares of Verizon Communications in a report on Wednesday, October 11th. Moffett Nathanson restated a “buy” rating on shares of Verizon Communications in a report on Thursday, October 12th. Finally, SunTrust Banks restated a “hold” rating and issued a $50.00 target price on shares of Verizon Communications in a report on Friday, October 20th. Two investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $51.98.

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Verizon Communications 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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