Integrated Investment Consultants LLC trimmed its stake in Verizon Communications Inc. (NYSE:VZ) by 7.0% during the 2nd quarter, Holdings Channel reports. The firm owned 28,371 shares of the cell phone carrier’s stock after selling 2,141 shares during the period. Verizon Communications accounts for about 0.6% of Integrated Investment Consultants LLC’s holdings, making the stock its 24th largest position. Integrated Investment Consultants LLC’s holdings in Verizon Communications were worth $1,427,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of VZ. Cedar Hill Associates LLC boosted its position in shares of Verizon Communications by 7.7% during the 2nd quarter. Cedar Hill Associates LLC now owns 13,539 shares of the cell phone carrier’s stock valued at $681,000 after acquiring an additional 968 shares in the last quarter. Bailard Inc. lifted its holdings in Verizon Communications by 1.0% during the 2nd quarter. Bailard Inc. now owns 99,356 shares of the cell phone carrier’s stock valued at $4,999,000 after purchasing an additional 977 shares during the last quarter. Live Your Vision LLC lifted its holdings in Verizon Communications by 24.0% during the 2nd quarter. Live Your Vision LLC now owns 5,166 shares of the cell phone carrier’s stock valued at $265,000 after purchasing an additional 1,000 shares during the last quarter. Canal Capital Management LLC lifted its holdings in Verizon Communications by 2.5% during the 2nd quarter. Canal Capital Management LLC now owns 41,657 shares of the cell phone carrier’s stock valued at $2,096,000 after purchasing an additional 1,008 shares during the last quarter. Finally, Palo Capital Inc. lifted its holdings in Verizon Communications by 0.9% during the 2nd quarter. Palo Capital Inc. now owns 112,404 shares of the cell phone carrier’s stock valued at $5,655,000 after purchasing an additional 1,012 shares during the last quarter. Institutional investors own 64.34% of the company’s stock.

Shares of NYSE VZ opened at $58.46 on Friday. Verizon Communications Inc. has a 1-year low of $43.97 and a 1-year high of $59.20. The stock has a market capitalization of $236.16 billion, a price-to-earnings ratio of 15.63, a P/E/G ratio of 2.49 and a beta of 0.46. The company has a quick ratio of 0.93, a current ratio of 0.97 and a debt-to-equity ratio of 1.90.

Verizon Communications (NYSE:VZ) last announced its earnings results on Tuesday, October 23rd. The cell phone carrier reported $1.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.19 by $0.03. The company had revenue of $32.61 billion during the quarter, compared to the consensus estimate of $32.45 billion. Verizon Communications had a net margin of 24.71% and a return on equity of 35.50%. The company’s revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.98 earnings per share. On average, equities research analysts anticipate that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 1st. Investors of record on Wednesday, October 10th were paid a dividend of $0.6025 per share. This represents a $2.41 dividend on an annualized basis and a dividend yield of 4.12%. This is an increase from Verizon Communications’s previous quarterly dividend of $0.59. The ex-dividend date was Tuesday, October 9th. Verizon Communications’s payout ratio is 64.44%.

Several equities analysts recently issued reports on VZ shares. Zacks Investment Research downgraded shares of Verizon Communications from a “buy” rating to a “hold” rating in a report on Monday, October 1st. Bank of America reissued a “buy” rating and set a $58.00 price target on shares of Verizon Communications in a report on Monday, October 22nd. Barclays downgraded shares of Verizon Communications from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $56.00 to $50.00 in a report on Tuesday, September 4th. Moffett Nathanson reissued a “neutral” rating and set a $56.00 price target on shares of Verizon Communications in a report on Tuesday, September 4th. Finally, Scotiabank set a $61.00 target price on shares of Verizon Communications and gave the stock a “buy” rating in a research note on Wednesday, July 25th. Eight analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $55.93.

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About Verizon Communications

Verizon Communications Inc, through its subsidiaries, offers communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company's Wireless segment provides wireless voice and data services; Internet access on various notebook computers and tablets; multimedia, business-focused, and location-based services, as well as international travel services; and network access services to deliver various Internet of Things products and services.

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

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