Verizon Communications Inc. (NYSE:VZ) Shares Sold by Annex Advisory Services LLC

Annex Advisory Services LLC cut its stake in Verizon Communications Inc. (NYSE:VZFree Report) by 0.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 101,246 shares of the cell phone carrier’s stock after selling 657 shares during the period. Annex Advisory Services LLC’s holdings in Verizon Communications were worth $4,248,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in VZ. Capital Advisors Wealth Management LLC grew its stake in shares of Verizon Communications by 41.6% in the first quarter. Capital Advisors Wealth Management LLC now owns 8,975 shares of the cell phone carrier’s stock worth $377,000 after purchasing an additional 2,635 shares in the last quarter. Unison Advisors LLC grew its stake in shares of Verizon Communications by 2.4% in the first quarter. Unison Advisors LLC now owns 60,308 shares of the cell phone carrier’s stock worth $2,531,000 after purchasing an additional 1,433 shares in the last quarter. Strong Tower Advisory Services grew its stake in shares of Verizon Communications by 8.2% in the first quarter. Strong Tower Advisory Services now owns 57,110 shares of the cell phone carrier’s stock worth $2,415,000 after purchasing an additional 4,323 shares in the last quarter. Austin Private Wealth LLC grew its stake in shares of Verizon Communications by 10.3% in the first quarter. Austin Private Wealth LLC now owns 7,172 shares of the cell phone carrier’s stock worth $307,000 after purchasing an additional 672 shares in the last quarter. Finally, Harbor Investment Advisory LLC grew its stake in shares of Verizon Communications by 4.4% in the first quarter. Harbor Investment Advisory LLC now owns 22,894 shares of the cell phone carrier’s stock worth $961,000 after purchasing an additional 969 shares in the last quarter. 62.06% of the stock is owned by institutional investors and hedge funds.

Verizon Communications Trading Up 0.2 %

Shares of NYSE:VZ traded up $0.07 during midday trading on Tuesday, reaching $41.24. The company had a trading volume of 6,318,721 shares, compared to its average volume of 18,783,760. The company has a fifty day simple moving average of $39.99 and a two-hundred day simple moving average of $39.96. The firm has a market cap of $173.59 billion, a price-to-earnings ratio of 15.47, a price-to-earnings-growth ratio of 2.92 and a beta of 0.42. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.67 and a current ratio of 0.71. Verizon Communications Inc. has a 1-year low of $30.14 and a 1-year high of $43.42.

Verizon Communications (NYSE:VZGet Free Report) last announced its quarterly earnings data on Monday, April 22nd. The cell phone carrier reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.03. The firm had revenue of $33 billion during the quarter, compared to the consensus estimate of $33.23 billion. Verizon Communications had a return on equity of 20.41% and a net margin of 8.44%. The business’s revenue for the quarter was up .3% on a year-over-year basis. During the same period in the prior year, the business earned $1.20 EPS. Research analysts predict that Verizon Communications Inc. will post 4.59 earnings per share for the current year.

Verizon Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be paid a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 6.45%. The ex-dividend date is Wednesday, July 10th. Verizon Communications’s dividend payout ratio is currently 99.25%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Tigress Financial raised their target price on Verizon Communications from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Royal Bank of Canada raised their target price on Verizon Communications from $36.00 to $40.00 and gave the company a “sector perform” rating in a research note on Tuesday, April 2nd. StockNews.com raised Verizon Communications from a “hold” rating to a “buy” rating in a research note on Saturday, May 4th. Oppenheimer reaffirmed an “outperform” rating and set a $48.00 target price on shares of Verizon Communications in a research note on Tuesday, April 23rd. Finally, Redburn Atlantic raised Verizon Communications from a “sell” rating to a “neutral” rating and raised their target price for the company from $33.00 to $39.00 in a research note on Friday, March 22nd. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Verizon Communications currently has a consensus rating of “Moderate Buy” and an average price target of $44.77.

Check Out Our Latest Research Report on VZ

Verizon Communications Company Profile

(Free Report)

Verizon Communications Inc, through its subsidiaries, engages in the provision of communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. It operates in two segments, Verizon Consumer Group (Consumer) and Verizon Business Group (Business).

Recommended Stories

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.