Global Financial Private Capital LLC cut its position in shares of Verizon Communications Inc. (NYSE:VZ) by 22.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 584,500 shares of the cell phone carrier’s stock after selling 170,973 shares during the period. Verizon Communications comprises 1.1% of Global Financial Private Capital LLC’s portfolio, making the stock its 20th biggest position. Global Financial Private Capital LLC’s holdings in Verizon Communications were worth $31,206,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of VZ. Catalyst Capital Advisors LLC bought a new position in shares of Verizon Communications in the 2nd quarter worth $103,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Verizon Communications in the 3rd quarter worth $107,000. Barnett & Company Inc. raised its position in shares of Verizon Communications by 152.3% in the 3rd quarter. Barnett & Company Inc. now owns 2,445 shares of the cell phone carrier’s stock worth $131,000 after acquiring an additional 1,476 shares in the last quarter. Emerald Investment Partners LLC bought a new position in shares of Verizon Communications in the 2nd quarter worth $174,000. Finally, IMA Wealth Inc. bought a new position in shares of Verizon Communications in the 2nd quarter worth $187,000. 64.77% of the stock is owned by institutional investors and hedge funds.

Verizon Communications stock opened at $53.28 on Wednesday. The company has a current ratio of 0.97, a quick ratio of 0.93 and a debt-to-equity ratio of 1.90. The stock has a market cap of $232.82 billion, a price-to-earnings ratio of 14.25, a PEG ratio of 2.92 and a beta of 0.54. Verizon Communications Inc. has a fifty-two week low of $46.08 and a fifty-two week high of $61.58.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Tuesday, January 29th. The cell phone carrier reported $1.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.09 by $0.03. The business had revenue of $34.28 billion for the quarter, compared to the consensus estimate of $34.45 billion. Verizon Communications had a return on equity of 35.50% and a net margin of 24.71%. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.86 EPS. On average, research analysts forecast that Verizon Communications Inc. will post 4.67 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, February 1st. Shareholders of record on Thursday, January 10th will be paid a dividend of $0.6025 per share. The ex-dividend date is Wednesday, January 9th. This represents a $2.41 annualized dividend and a yield of 4.52%. Verizon Communications’s payout ratio is presently 64.44%.

Several research analysts have recently commented on VZ shares. JPMorgan Chase & Co. lowered Verizon Communications from an “overweight” rating to a “neutral” rating and set a $59.89 price target for the company. in a research report on Sunday, December 9th. ValuEngine raised Verizon Communications from a “hold” rating to a “buy” rating in a research report on Thursday, November 15th. Barclays boosted their price target on Verizon Communications from $50.00 to $53.00 and gave the stock a “hold” rating in a research report on Wednesday, October 24th. Morgan Stanley lowered Verizon Communications from an “overweight” rating to an “equal weight” rating and set a $58.00 target price on the stock. in a research report on Wednesday, December 12th. Finally, Tigress Financial reaffirmed a “hold” rating on shares of Verizon Communications in a research report on Friday, December 28th. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $55.90.

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Verizon Communications Profile

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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