Ashburton Jersey Ltd bought a new stake in Verizon Communications Inc. (NYSE:VZ) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 30,035 shares of the cell phone carrier’s stock, valued at approximately $1,561,000.

Other institutional investors have also bought and sold shares of the company. High Point Bank & Trust Co. boosted its position in Verizon Communications by 3.8% in the second quarter. High Point Bank & Trust Co. now owns 29,410 shares of the cell phone carrier’s stock valued at $1,642,000 after buying an additional 1,090 shares during the last quarter. RNC Capital Management LLC boosted its position in Verizon Communications by 2.2% in the second quarter. RNC Capital Management LLC now owns 504,278 shares of the cell phone carrier’s stock valued at $28,159,000 after buying an additional 10,927 shares during the last quarter. Trust Co. of Toledo NA OH boosted its position in Verizon Communications by 4.2% in the second quarter. Trust Co. of Toledo NA OH now owns 62,671 shares of the cell phone carrier’s stock valued at $3,499,000 after buying an additional 2,535 shares during the last quarter. Portfolio Solutions LLC acquired a new position in Verizon Communications during the second quarter valued at approximately $205,000. Finally, Shell Asset Management Co. boosted its position in Verizon Communications by 3.5% in the second quarter. Shell Asset Management Co. now owns 1,017,363 shares of the cell phone carrier’s stock valued at $56,810,000 after buying an additional 34,602 shares during the last quarter. Institutional investors and hedge funds own 63.38% of the company’s stock.

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

Verizon Communications Inc. (NYSE:VZ) opened at 48.46 on Friday. The firm’s 50 day moving average price is $50.81 and its 200-day moving average price is $51.00. Verizon Communications Inc. has a 12-month low of $46.01 and a 12-month high of $56.95. The stock has a market cap of $197.57 billion, a P/E ratio of 15.10 and a beta of 0.43.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Tuesday, January 24th. The cell phone carrier reported $0.86 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.89 by $0.03. The firm had revenue of $32.30 billion for the quarter, compared to analysts’ expectations of $32.12 billion. Verizon Communications had a net margin of 10.42% and a return on equity of 72.75%. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.89 EPS. Equities research analysts anticipate that Verizon Communications Inc. will post $3.86 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 1st. Stockholders of record on Tuesday, January 10th were given a dividend of $0.5775 per share. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.01. The ex-dividend date was Friday, January 6th. This represents a $2.31 dividend on an annualized basis and a dividend yield of 4.77%. Verizon Communications’s dividend payout ratio (DPR) is presently 71.74%.

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VZ has been the subject of several recent analyst reports. Jefferies Group LLC restated a “hold” rating and set a $53.00 target price on shares of Verizon Communications in a research report on Sunday, October 23rd. Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and set a $51.00 price target on shares of Verizon Communications in a research note on Sunday, October 23rd. Morgan Stanley reaffirmed an “overweight” rating and set a $60.00 price target on shares of Verizon Communications in a research note on Sunday, October 23rd. Wells Fargo & Company reaffirmed an “outperform” rating on shares of Verizon Communications in a research note on Sunday, October 23rd. Finally, Citigroup Inc. reaffirmed a “neutral” rating and set a $58.00 price target on shares of Verizon Communications in a research note on Sunday, October 23rd. One analyst has rated the stock with a sell rating, twenty-six have given a hold rating and seven have issued a buy rating to the stock. Verizon Communications presently has an average rating of “Hold” and a consensus price target of $54.49.

In other news, EVP Craig L. Silliman sold 668 shares of the firm’s stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $49.29, for a total transaction of $32,925.72. Following the completion of the transaction, the executive vice president now owns 6,047 shares in the company, valued at $298,056.63. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Anthony T. Skiadas sold 12,495 shares of the firm’s stock in a transaction dated Tuesday, February 14th. The shares were sold at an average price of $48.27, for a total value of $603,133.65. Following the transaction, the senior vice president now owns 16,058 shares of the company’s stock, valued at approximately $775,119.66. The disclosure for this sale can be found here. Company insiders own 0.10% of the company’s stock.

About Verizon Communications

Verizon Communications Inc (Verizon) is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. The Company offers voice, data and video services and solutions on its wireless and wireline networks.

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