Carroll Financial Associates Inc. raised its position in Verizon Communications Inc. (NYSE:VZ) by 2.8% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 33,725 shares of the cell phone carrier’s stock after acquiring an additional 912 shares during the period. Carroll Financial Associates Inc.’s holdings in Verizon Communications were worth $1,506,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Franklin Parlapiano Turner & Welch LLC bought a new stake in Verizon Communications in the 1st quarter valued at approximately $136,000. American Beacon Advisors Inc. bought a new stake in Verizon Communications in the 1st quarter valued at approximately $140,000. Proficio Capital Partners LLC lifted its stake in Verizon Communications by 139.8% in the 1st quarter. Proficio Capital Partners LLC now owns 3,158 shares of the cell phone carrier’s stock valued at $142,000 after acquiring an additional 1,841 shares in the last quarter. Camarda Financial Advisors LLC lifted its stake in Verizon Communications by 11.3% in the 2nd quarter. Camarda Financial Advisors LLC now owns 3,749 shares of the cell phone carrier’s stock valued at $167,000 after acquiring an additional 382 shares in the last quarter. Finally, Portfolio Solutions LLC bought a new stake in Verizon Communications in the 1st quarter valued at approximately $179,000. Hedge funds and other institutional investors own 62.23% of the company’s stock.

A number of brokerages have recently issued reports on VZ. Bank of America Corporation reiterated a “buy” rating on shares of Verizon Communications in a research note on Saturday, June 17th. Royal Bank Of Canada reiterated a “hold” rating and set a $48.00 price objective on shares of Verizon Communications in a research note on Sunday, July 9th. Zacks Investment Research cut Verizon Communications from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th. TheStreet upgraded Verizon Communications from a “c+” rating to a “b-” rating in a research note on Tuesday, August 8th. Finally, Moffett Nathanson upgraded Verizon Communications from a “sell” rating to a “neutral” rating in a research note on Tuesday, May 30th. Two equities research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Verizon Communications has a consensus rating of “Hold” and an average target price of $53.00.

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

Verizon Communications Inc. (VZ) traded down 1.05% during trading on Thursday, reaching $48.96. The company’s stock had a trading volume of 5,666,421 shares. Verizon Communications Inc. has a 52-week low of $42.80 and a 52-week high of $54.83. The company has a market cap of $199.73 billion, a PE ratio of 12.59 and a beta of 0.57. The stock has a 50-day moving average price of $48.00 and a 200 day moving average price of $47.06. Verizon Communications also was the recipient of unusually large options trading on Monday. Traders purchased 27,514 call options on the company. This represents an increase of 160% compared to the typical volume of 10,571 call options.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Thursday, July 27th. The cell phone carrier reported $0.96 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.96. Verizon Communications had a return on equity of 63.06% and a net margin of 12.88%. The firm had revenue of $30.55 billion during the quarter, compared to analysts’ expectations of $29.84 billion. During the same period in the prior year, the business earned $0.94 EPS. The company’s revenue for the quarter was up .1% compared to the same quarter last year. On average, analysts expect that Verizon Communications Inc. will post $3.78 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th will be issued a $0.59 dividend. This is a boost from Verizon Communications’s previous quarterly dividend of $0.58. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.77%. The ex-dividend date of this dividend is Friday, October 6th. Verizon Communications’s dividend payout ratio is presently 59.23%.

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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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