LLBH Private Wealth Management LLC grew its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 0.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,428 shares of the cell phone carrier’s stock after buying an additional 22 shares during the quarter. LLBH Private Wealth Management LLC’s holdings in Verizon Communications were worth $421,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp boosted its holdings in Verizon Communications by 1.2% during the first quarter. State Street Corp now owns 168,115,884 shares of the cell phone carrier’s stock worth $8,195,661,000 after purchasing an additional 2,066,816 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in Verizon Communications by 7.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 19,403,560 shares of the cell phone carrier’s stock worth $866,563,000 after purchasing an additional 1,277,604 shares during the last quarter. Macquarie Group Ltd. boosted its holdings in Verizon Communications by 2.1% during the first quarter. Macquarie Group Ltd. now owns 15,452,275 shares of the cell phone carrier’s stock worth $753,262,000 after purchasing an additional 318,586 shares during the last quarter. Canada Pension Plan Investment Board boosted its holdings in Verizon Communications by 1.3% during the second quarter. Canada Pension Plan Investment Board now owns 10,704,239 shares of the cell phone carrier’s stock worth $478,051,000 after purchasing an additional 136,700 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its holdings in Verizon Communications by 1.8% during the first quarter. Clearbridge Investments LLC now owns 7,651,193 shares of the cell phone carrier’s stock worth $372,996,000 after purchasing an additional 133,038 shares during the last quarter. Hedge funds and other institutional investors own 62.05% of the company’s stock.

In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of the business’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $48.62, for a total value of $29,658.20. Following the completion of the transaction, the executive vice president now owns 5,989 shares of the company’s stock, valued at approximately $291,185.18. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last three months, insiders sold 1,830 shares of company stock valued at $89,365. Corporate insiders own 0.13% of the company’s stock.

Several research analysts recently weighed in on the stock. Robert W. Baird restated a “hold” rating and set a $49.00 price target on shares of Verizon Communications in a report on Wednesday, October 4th. Macquarie restated a “hold” rating and set a $52.00 price target on shares of Verizon Communications in a report on Sunday, October 22nd. KeyCorp restated a “hold” rating on shares of Verizon Communications in a report on Saturday, October 21st. Bank of America Corporation set a $52.00 price target on shares of Verizon Communications and gave the stock a “buy” rating in a report on Friday, October 20th. Finally, SunTrust Banks, Inc. reiterated a “hold” rating and issued a $50.00 target price on shares of Verizon Communications in a research note on Friday, October 20th. Two analysts have rated the stock with a sell rating, twenty have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $52.75.

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Shares of Verizon Communications Inc. (VZ) opened at $44.88 on Monday. The company has a debt-to-equity ratio of 4.05, a quick ratio of 1.02 and a current ratio of 1.07. The firm has a market cap of $183,085.31, a P/E ratio of 11.97, a P/E/G ratio of 4.22 and a beta of 0.55. Verizon Communications Inc. has a twelve month low of $42.80 and a twelve month high of $54.83.

Verizon Communications (NYSE:VZ) last posted its earnings results on Thursday, October 19th. The cell phone carrier reported $0.98 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.98. The business had revenue of $31.70 billion for the quarter, compared to analyst estimates of $31.45 billion. Verizon Communications had a net margin of 12.80% and a return on equity of 58.66%. Verizon Communications’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.01 EPS. analysts forecast that Verizon Communications Inc. will post 3.77 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 5.26%. The ex-dividend date was Friday, October 6th. This is a boost from Verizon Communications’s previous quarterly dividend of $0.58. Verizon Communications’s payout ratio is currently 60.51%.

Verizon Communications Company 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.

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

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