Baystate Wealth Management LLC lessened its holdings in Verizon Communications Inc. (NYSE:VZ) by 2.5% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 11,801 shares of the cell phone carrier’s stock after selling 300 shares during the period. Baystate Wealth Management LLC’s holdings in Verizon Communications were worth $702,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Winslow Evans & Crocker Inc. increased its stake in shares of Verizon Communications by 5.0% in the second quarter. Winslow Evans & Crocker Inc. now owns 63,285 shares of the cell phone carrier’s stock worth $3,488,000 after acquiring an additional 3,011 shares during the period. Bigelow Investment Advisors LLC boosted its holdings in Verizon Communications by 17.5% in the second quarter. Bigelow Investment Advisors LLC now owns 22,202 shares of the cell phone carrier’s stock valued at $1,224,000 after purchasing an additional 3,314 shares during the last quarter. LifeSteps Financial Inc. grew its position in Verizon Communications by 2.4% during the 2nd quarter. LifeSteps Financial Inc. now owns 12,753 shares of the cell phone carrier’s stock worth $703,000 after purchasing an additional 302 shares during the period. Davidson Investment Advisors raised its stake in shares of Verizon Communications by 21.4% during the 2nd quarter. Davidson Investment Advisors now owns 4,533 shares of the cell phone carrier’s stock valued at $250,000 after buying an additional 800 shares during the last quarter. Finally, McAdam LLC lifted its holdings in shares of Verizon Communications by 8.2% in the 2nd quarter. McAdam LLC now owns 13,326 shares of the cell phone carrier’s stock valued at $735,000 after buying an additional 1,005 shares during the period. 64.85% of the stock is owned by institutional investors.

Shares of Verizon Communications stock opened at $58.05 on Friday. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.96 and a quick ratio of 0.93. The stock’s 50 day simple moving average is $59.66 and its 200-day simple moving average is $57.28. The stock has a market cap of $240.21 billion, a P/E ratio of 12.59, a P/E/G ratio of 3.67 and a beta of 0.46. Verizon Communications Inc. has a 1-year low of $48.84 and a 1-year high of $62.22.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Friday, July 24th. The cell phone carrier reported $1.18 EPS for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.03. The firm had revenue of $30.40 billion for the quarter, compared to the consensus estimate of $29.98 billion. Verizon Communications had a return on equity of 32.15% and a net margin of 14.76%. The firm’s revenue was down 5.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.23 earnings per share. As a group, research analysts expect that Verizon Communications Inc. will post 4.78 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Friday, October 9th will be issued a $0.6275 dividend. The ex-dividend date is Thursday, October 8th. This represents a $2.51 dividend on an annualized basis and a dividend yield of 4.32%. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.62. Verizon Communications’s dividend payout ratio is currently 52.18%.

VZ has been the subject of several recent research reports. Oppenheimer assumed coverage on Verizon Communications in a research report on Tuesday, September 15th. They set a “buy” rating and a $70.00 price target for the company. Scotiabank increased their price target on shares of Verizon Communications from $63.00 to $64.00 and gave the stock a “sector outperform” rating in a report on Monday, July 27th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $57.00 price objective on shares of Verizon Communications in a report on Wednesday, September 9th. Tigress Financial reissued a “hold” rating on shares of Verizon Communications in a research note on Tuesday, August 11th. Finally, Raymond James raised their target price on Verizon Communications from $61.00 to $64.00 and gave the company an “outperform” rating in a research report on Monday, July 27th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $62.24.

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; 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.

Recommended Story: Are Wall Street analysts’ stock ratings worth following?

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.