Compton Capital Management Inc. RI trimmed its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 1.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 74,662 shares of the cell phone carrier’s stock after selling 1,326 shares during the quarter. Verizon Communications comprises approximately 1.6% of Compton Capital Management Inc. RI’s investment portfolio, making the stock its 13th biggest position. Compton Capital Management Inc. RI’s holdings in Verizon Communications were worth $3,986,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. FMR LLC lifted its position in Verizon Communications by 8.6% during the second quarter. FMR LLC now owns 69,165,256 shares of the cell phone carrier’s stock worth $3,479,704,000 after purchasing an additional 5,481,532 shares during the period. Bank of New York Mellon Corp lifted its position in Verizon Communications by 4.6% during the second quarter. Bank of New York Mellon Corp now owns 52,863,812 shares of the cell phone carrier’s stock worth $2,659,579,000 after purchasing an additional 2,302,664 shares during the period. Morgan Stanley lifted its position in Verizon Communications by 3.3% during the second quarter. Morgan Stanley now owns 34,759,538 shares of the cell phone carrier’s stock worth $1,748,752,000 after purchasing an additional 1,119,926 shares during the period. Wells Fargo & Company MN lifted its position in Verizon Communications by 1.1% during the second quarter. Wells Fargo & Company MN now owns 28,728,425 shares of the cell phone carrier’s stock worth $1,445,327,000 after purchasing an additional 308,334 shares during the period. Finally, Schwab Charles Investment Management Inc. lifted its position in Verizon Communications by 4.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 23,794,249 shares of the cell phone carrier’s stock worth $1,197,089,000 after purchasing an additional 1,040,614 shares during the period. 64.77% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE VZ opened at $54.55 on Friday. The company has a debt-to-equity ratio of 1.94, a current ratio of 0.91 and a quick ratio of 0.93. The stock has a market cap of $227.29 billion, a price-to-earnings ratio of 11.58, a price-to-earnings-growth ratio of 2.91 and a beta of 0.48. Verizon Communications Inc. has a 12 month low of $46.08 and a 12 month high of $61.58.

Verizon Communications (NYSE:VZ) last issued its earnings results on Tuesday, January 29th. The cell phone carrier reported $1.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.09 by $0.03. Verizon Communications had a return on equity of 35.96% and a net margin of 11.87%. The firm had revenue of $34.28 billion during the quarter, compared to the consensus estimate of $34.45 billion. During the same quarter in the previous year, the firm earned $0.86 earnings per share. The business’s quarterly revenue was up 1.0% on a year-over-year basis. On average, sell-side analysts predict that Verizon Communications Inc. will post 4.66 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 1st. Stockholders of record on Thursday, January 10th were paid a $0.6025 dividend. This represents a $2.41 annualized dividend and a dividend yield of 4.42%. The ex-dividend date of this dividend was Wednesday, January 9th. Verizon Communications’s dividend payout ratio is currently 51.17%.

Several equities research analysts recently weighed in on the stock. Scotiabank set a $62.00 price objective on shares of Verizon Communications and gave the stock a “buy” rating in a research report on Wednesday, October 24th. Morgan Stanley cut shares of Verizon Communications from an “overweight” rating to an “equal weight” rating and set a $58.00 price objective for the company. in a research report on Wednesday, December 12th. ValuEngine raised shares of Verizon Communications from a “hold” rating to a “buy” rating in a research report on Wednesday, October 24th. Bank of America reaffirmed a “buy” rating and set a $58.00 price objective on shares of Verizon Communications in a research report on Monday, October 22nd. Finally, Zacks Investment Research raised shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a research report on Saturday, January 26th. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $55.90.

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Verizon Communications Company 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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