Ridgewood Investments LLC lowered its holdings in Verizon Communications Inc. (NYSE:VZ) by 2.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,707 shares of the cell phone carrier’s stock after selling 227 shares during the period. Ridgewood Investments LLC’s holdings in Verizon Communications were worth $518,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of VZ. Steigerwald Gordon & Koch Inc. lifted its stake in shares of Verizon Communications by 2.8% during the third quarter. Steigerwald Gordon & Koch Inc. now owns 21,623 shares of the cell phone carrier’s stock worth $1,286,000 after purchasing an additional 593 shares in the last quarter. Praetorian Wealth Management Inc. purchased a new position in Verizon Communications in the 3rd quarter worth approximately $210,000. TRH Financial LLC grew its position in Verizon Communications by 7.7% in the third quarter. TRH Financial LLC now owns 4,484 shares of the cell phone carrier’s stock valued at $267,000 after acquiring an additional 321 shares in the last quarter. Newman Dignan & Sheerar Inc. raised its stake in shares of Verizon Communications by 2.3% during the third quarter. Newman Dignan & Sheerar Inc. now owns 47,557 shares of the cell phone carrier’s stock valued at $2,829,000 after purchasing an additional 1,071 shares during the period. Finally, Alpha Cubed Investments LLC raised its stake in shares of Verizon Communications by 5.9% during the third quarter. Alpha Cubed Investments LLC now owns 423,530 shares of the cell phone carrier’s stock valued at $25,196,000 after purchasing an additional 23,423 shares during the period. 64.85% of the stock is currently owned by institutional investors and hedge funds.

NYSE:VZ opened at $58.05 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 1.66. The stock has a 50 day moving average of $59.66 and a 200-day moving average of $57.28. The firm has a market capitalization of $240.21 billion, a PE ratio of 12.59, a price-to-earnings-growth ratio of 3.67 and a beta of 0.46. Verizon Communications Inc. has a 52 week low of $48.84 and a 52 week high of $62.22.

Verizon Communications (NYSE:VZ) last issued 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 during 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% on a year-over-year basis. During the same period in the prior year, the business earned $1.23 EPS. As a group, analysts predict 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. This represents a $2.51 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date of this dividend is Thursday, October 8th. This is a boost from Verizon Communications’s previous quarterly dividend of $0.62. Verizon Communications’s dividend payout ratio (DPR) is 52.18%.

Several equities research analysts recently issued reports on the stock. Tigress Financial reaffirmed a “hold” rating on shares of Verizon Communications in a research note on Tuesday, August 11th. Moffett Nathanson reaffirmed a “hold” rating and set a $62.00 target price on shares of Verizon Communications in a research report on Friday, July 24th. Raymond James boosted their price target on Verizon Communications from $61.00 to $64.00 and gave the stock an “outperform” rating in a research note on Monday, July 27th. UBS Group raised their price objective on Verizon Communications from $59.00 to $60.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. Finally, Argus raised Verizon Communications from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a research report on Tuesday, September 8th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Verizon Communications has an average rating of “Hold” and a consensus target price of $62.24.

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; 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.

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

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