Cohen & Steers Inc. boosted its holdings in Verizon Communications Inc. (NYSE:VZ) by 71.9% in the fourth quarter, HoldingsChannel reports. The firm owned 6,018 shares of the cell phone carrier’s stock after buying an additional 2,518 shares during the quarter. Cohen & Steers Inc.’s holdings in Verizon Communications were worth $338,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. HC Financial Advisors Inc. boosted its position in shares of Verizon Communications by 51.6% in the third quarter. HC Financial Advisors Inc. now owns 43,302 shares of the cell phone carrier’s stock worth $2,312,000 after purchasing an additional 14,739 shares during the period. FTB Advisors Inc. boosted its position in shares of Verizon Communications by 3.2% during the third quarter. FTB Advisors Inc. now owns 31,019 shares of the cell phone carrier’s stock worth $1,656,000 after acquiring an additional 967 shares during the last quarter. Jones Financial Companies Lllp boosted its position in shares of Verizon Communications by 0.9% during the third quarter. Jones Financial Companies Lllp now owns 148,765 shares of the cell phone carrier’s stock worth $7,942,000 after acquiring an additional 1,343 shares during the last quarter. Paragon Capital Management LLC boosted its position in shares of Verizon Communications by 223.3% during the third quarter. Paragon Capital Management LLC now owns 5,977 shares of the cell phone carrier’s stock worth $319,000 after acquiring an additional 4,128 shares during the last quarter. Finally, Northeast Financial Consultants Inc bought a new position in shares of Verizon Communications during the third quarter worth $305,000. 65.56% of the stock is owned by hedge funds and other institutional investors.

In other news, EVP Craig L. Silliman sold 1,349 shares of the stock in a transaction on Friday, April 26th. The shares were sold at an average price of $56.06, for a total value of $75,624.94. Following the sale, the executive vice president now owns 28,077 shares of the company’s stock, valued at $1,573,996.62. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Anthony T. Skiadas sold 6,134 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $57.11, for a total transaction of $350,312.74. Following the completion of the sale, the senior vice president now directly owns 20,000 shares in the company, valued at approximately $1,142,200. The disclosure for this sale can be found here. Insiders have sold 10,181 shares of company stock valued at $587,143 in the last quarter. 0.03% of the stock is owned by company insiders.

VZ has been the subject of a number of research reports. Royal Bank of Canada restated a “neutral” rating and set a $57.00 target price on shares of Verizon Communications in a research report on Tuesday, April 23rd. Bank of America set a $64.00 target price on shares of Verizon Communications and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Goldman Sachs Group restated a “buy” rating and set a $65.00 target price on shares of Verizon Communications in a research report on Tuesday, April 23rd. UBS Group lowered shares of Verizon Communications from a “buy” rating to a “neutral” rating and set a $57.70 target price for the company. in a research report on Thursday, May 30th. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research report on Saturday, May 11th. Ten investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $58.20.

VZ stock opened at $57.36 on Thursday. Verizon Communications Inc. has a 52 week low of $47.13 and a 52 week high of $61.58. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.87 and a quick ratio of 0.83. The firm has a market cap of $234.90 billion, a price-to-earnings ratio of 12.18, a price-to-earnings-growth ratio of 2.84 and a beta of 0.50.

Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Tuesday, April 23rd. The cell phone carrier reported $1.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.03. Verizon Communications had a net margin of 12.20% and a return on equity of 35.40%. The business had revenue of $32.13 billion during the quarter, compared to analyst estimates of $32.13 billion. During the same quarter last year, the business earned $1.17 earnings per share. Verizon Communications’s quarterly revenue was up 1.1% compared to the same quarter last year. Research analysts anticipate that Verizon Communications Inc. will post 4.75 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be given a dividend of $0.6025 per share. The ex-dividend date of this dividend is Tuesday, July 9th. This represents a $2.41 annualized dividend and a yield of 4.20%. Verizon Communications’s dividend payout ratio (DPR) is currently 51.17%.

TRADEMARK VIOLATION WARNING: “Verizon Communications Inc. (NYSE:VZ) Shares Bought by Cohen & Steers Inc.” was originally posted by Daily Political and is owned by of Daily Political. If you are viewing this story on another publication, it was stolen and republished in violation of U.S. & international trademark and copyright law. The correct version of this story can be viewed at https://www.dailypolitical.com/2019/06/13/verizon-communications-inc-nysevz-shares-bought-by-cohen-steers-inc.html.

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; international travel wireless services; and network access services to deliver various Internet of Things products and services, as well as offers digital advertising and digital media services platforms.

Featured Story: What are the FAANG Stocks?

Want to see what other hedge funds are holding VZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Verizon Communications Inc. (NYSE:VZ).

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

Receive News & Ratings for Verizon Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verizon Communications and related companies with MarketBeat.com's FREE daily email newsletter.