Monroe Bank & Trust MI lowered its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 3.4% during the third quarter, Holdings Channel reports. The fund owned 30,779 shares of the cell phone carrier’s stock after selling 1,097 shares during the period. Monroe Bank & Trust MI’s holdings in Verizon Communications were worth $1,480,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Guidant Wealth Advisors acquired a new position in Verizon Communications during the third quarter valued at $107,000. Solaris Asset Management LLC acquired a new position in Verizon Communications during the third quarter valued at $125,000. Lowe fs LLC raised its position in Verizon Communications by 3.0% in the third quarter. Lowe fs LLC now owns 2,426 shares of the cell phone carrier’s stock valued at $126,000 after buying an additional 70 shares during the last quarter. Ruggie Capital Group raised its position in Verizon Communications by 0.3% in the third quarter. Ruggie Capital Group now owns 2,649 shares of the cell phone carrier’s stock valued at $137,000 after buying an additional 9 shares during the last quarter. Finally, Daiwa SB Investments Ltd. raised its position in Verizon Communications by 11,938.5% in the third quarter. Daiwa SB Investments Ltd. now owns 3,130 shares of the cell phone carrier’s stock valued at $163,000 after buying an additional 3,104 shares during the last quarter. 63.38% of the stock is currently owned by hedge funds and other institutional investors.

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

Shares of Verizon Communications Inc. (NYSE:VZ) opened at 48.46 on Friday. The company has a market cap of $197.57 billion, a P/E ratio of 15.10 and a beta of 0.43. The company’s 50-day moving average price is $50.81 and its 200 day moving average price is $51.00. Verizon Communications Inc. has a 52 week low of $46.01 and a 52 week high of $56.95.

Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Tuesday, January 24th. The cell phone carrier reported $0.86 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.89 by $0.03. Verizon Communications had a net margin of 10.42% and a return on equity of 72.75%. The firm earned $32.30 billion during the quarter, compared to analyst estimates of $32.12 billion. During the same period in the prior year, the business earned $0.89 EPS. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. On average, equities analysts forecast that Verizon Communications Inc. will post $3.86 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 1st. Shareholders of record on Tuesday, January 10th were paid a $0.5775 dividend. This is an increase from Verizon Communications’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend was Friday, January 6th. This represents a $2.31 annualized dividend and a dividend yield of 4.77%. Verizon Communications’s dividend payout ratio (DPR) is currently 71.74%.

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Several research analysts recently weighed in on the company. Wells Fargo & Company reissued a “market perform” rating and set a $80.00 price target on shares of Verizon Communications in a research report on Wednesday. Evercore ISI reissued a “hold” rating on shares of Verizon Communications in a research report on Thursday. Vetr lowered Verizon Communications from a “buy” rating to a “hold” rating and set a $52.38 price target on the stock. in a research report on Monday, January 2nd. Instinet reaffirmed a “neutral” rating and issued a $47.00 target price on shares of Verizon Communications in a research report on Thursday. Finally, Pacific Crest reaffirmed an “equal weight” rating on shares of Verizon Communications in a research report on Tuesday, January 24th. One investment analyst has rated the stock with a sell rating, twenty-six have given a hold rating and seven have assigned a buy rating to the stock. Verizon Communications presently has a consensus rating of “Hold” and an average target price of $54.49.

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

Verizon Communications Company Profile

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.

5 Day Chart for NYSE:VZ

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