Cape ANN Savings Bank reduced its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 4.3% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 7,979 shares of the cell phone carrier’s stock after selling 355 shares during the period. Cape ANN Savings Bank’s holdings in Verizon Communications were worth $357,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Excalibur Management Corp boosted its stake in Verizon Communications by 5.7% in the first quarter. Excalibur Management Corp now owns 123,976 shares of the cell phone carrier’s stock valued at $6,044,000 after buying an additional 6,723 shares in the last quarter. Beutel Goodman & Co Ltd. boosted its stake in Verizon Communications by 6.8% in the first quarter. Beutel Goodman & Co Ltd. now owns 4,358,480 shares of the cell phone carrier’s stock valued at $179,129,000 after buying an additional 277,129 shares during the period. Edge Wealth Management LLC boosted its stake in Verizon Communications by 1.4% in the first quarter. Edge Wealth Management LLC now owns 283,113 shares of the cell phone carrier’s stock valued at $13,824,000 after buying an additional 3,887 shares during the period. Hefty Wealth Partners boosted its stake in Verizon Communications by 14,572.2% in the first quarter. Hefty Wealth Partners now owns 26,410 shares of the cell phone carrier’s stock valued at $1,287,000 after buying an additional 26,230 shares during the period. Finally, Middleton & Co Inc MA boosted its stake in Verizon Communications by 5.7% in the first quarter. Middleton & Co Inc MA now owns 129,403 shares of the cell phone carrier’s stock valued at $6,309,000 after buying an additional 7,033 shares during the period. 62.33% of the stock is owned by hedge funds and other institutional investors.

Shares of Verizon Communications Inc. (NYSE:VZ) traded down 0.42% during mid-day trading on Friday, reaching $47.69. The company’s stock had a trading volume of 16,919,130 shares. The firm has a 50-day moving average of $46.01 and a 200-day moving average of $47.29. Verizon Communications Inc. has a 52 week low of $42.80 and a 52 week high of $54.83. The firm has a market capitalization of $194.55 billion, a PE ratio of 12.26 and a beta of 0.56.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Thursday, July 27th. The cell phone carrier reported $0.96 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.96. The company had revenue of $30.55 billion during the quarter, compared to analysts’ expectations of $29.84 billion. Verizon Communications had a net margin of 12.88% and a return on equity of 63.06%. The firm’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the prior year, the company posted $0.94 EPS. Equities research analysts forecast that Verizon Communications Inc. will post $3.79 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were given a $0.5775 dividend. The ex-dividend date was Thursday, July 6th. This represents a $2.31 dividend on an annualized basis and a yield of 4.84%. Verizon Communications’s payout ratio is currently 59.23%.

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VZ has been the subject of several recent analyst reports. Argus cut Verizon Communications from a “buy” rating to a “hold” rating in a research note on Friday, April 21st. Royal Bank Of Canada reissued a “hold” rating and set a $48.00 target price on shares of Verizon Communications in a research note on Friday, April 21st. Macquarie reissued a “neutral” rating and set a $49.00 target price (down previously from $50.00) on shares of Verizon Communications in a research note on Sunday, April 23rd. Jefferies Group LLC reissued a “hold” rating and set a $50.00 target price (down previously from $51.00) on shares of Verizon Communications in a research note on Sunday, April 23rd. Finally, Deutsche Bank AG reissued a “hold” rating and set a $46.00 target price (down previously from $47.00) on shares of Verizon Communications in a research note on Sunday, April 23rd. Two equities research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Verizon Communications has a consensus rating of “Hold” and an average price target of $52.73.

In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of the company’s stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $45.00, for a total value of $27,450.00. Following the completion of the transaction, the executive vice president now directly owns 8,429 shares of the company’s stock, valued at approximately $379,305. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Over the last three months, insiders sold 1,830 shares of company stock valued at $84,229. 0.13% of the stock is currently owned by corporate insiders.

About Verizon Communications

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.

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

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