Verizon Communications Inc. (VZ) Holdings Decreased by Joel Isaacson & Co. LLC

Joel Isaacson & Co. LLC cut its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 11.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,569 shares of the cell phone carrier’s stock after selling 4,559 shares during the period. Joel Isaacson & Co. LLC’s holdings in Verizon Communications were worth $1,711,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Whitnell & Co. boosted its stake in shares of Verizon Communications by 1.2% in the second quarter. Whitnell & Co. now owns 10,316 shares of the cell phone carrier’s stock valued at $461,000 after purchasing an additional 125 shares during the period. Caxton Associates LP purchased a new position in shares of Verizon Communications in the second quarter valued at approximately $607,000. DekaBank Deutsche Girozentrale boosted its stake in shares of Verizon Communications by 4.6% in the second quarter. DekaBank Deutsche Girozentrale now owns 1,673,761 shares of the cell phone carrier’s stock valued at $74,961,000 after purchasing an additional 72,980 shares during the period. Canada Pension Plan Investment Board boosted its stake in shares of Verizon Communications by 1.3% in the second quarter. Canada Pension Plan Investment Board now owns 10,704,239 shares of the cell phone carrier’s stock valued at $478,051,000 after purchasing an additional 136,700 shares during the period. Finally, Alps Advisors Inc. boosted its stake in shares of Verizon Communications by 5.2% in the second quarter. Alps Advisors Inc. now owns 1,018,021 shares of the cell phone carrier’s stock valued at $45,465,000 after purchasing an additional 50,602 shares during the period. Institutional investors and hedge funds own 63.22% of the company’s stock.

Several research analysts have recently commented on the stock. Moffett Nathanson lowered shares of Verizon Communications from a “buy” rating to a “neutral” rating in a research note on Tuesday. KeyCorp raised their price objective on shares of Verizon Communications from $50.00 to $53.00 and gave the company a “sector weight” rating in a research note on Tuesday, January 2nd. HSBC lowered shares of Verizon Communications from a “buy” rating to a “hold” rating and lowered their price objective for the company from $54.83 to $42.80 in a research note on Thursday, December 14th. They noted that the move was a valuation call. Instinet raised their price objective on shares of Verizon Communications from $47.00 to $61.00 and gave the company a “buy” rating in a research note on Tuesday, December 12th. Finally, Nomura raised shares of Verizon Communications from a “neutral” rating to a “buy” rating and raised their price objective for the company from $47.00 to $61.00 in a research note on Tuesday, December 12th. Two investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $51.98.

Verizon Communications Inc. (NYSE:VZ) opened at $51.55 on Friday. Verizon Communications Inc. has a 12 month low of $42.80 and a 12 month high of $53.69. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 4.05. The stock has a market cap of $210,300.00, a P/E ratio of 13.22, a P/E/G ratio of 4.67 and a beta of 0.57.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Thursday, October 19th. The cell phone carrier reported $0.98 earnings per share for the quarter, hitting the consensus estimate of $0.98. The business had revenue of $31.70 billion during the quarter, compared to the consensus estimate of $31.45 billion. Verizon Communications had a net margin of 12.80% and a return on equity of 58.66%. The company’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.01 EPS. equities research analysts forecast that Verizon Communications Inc. will post 3.77 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th will be given a dividend of $0.59 per share. The ex-dividend date is Tuesday, January 9th. This represents a $2.36 annualized dividend and a dividend yield of 4.58%. Verizon Communications’s dividend payout ratio is presently 60.51%.

In other news, EVP Craig L. Silliman sold 610 shares of the business’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $47.41, for a total transaction of $28,920.10. Following the completion of the sale, the executive vice president now owns 3,269 shares in the company, valued at approximately $154,983.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.13% of the stock is currently owned by insiders.

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Verizon Communications Profile

Verizon Communications Inc is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. Its segments include Wireless and Wireline. The Wireless segment offers communications products and services, including wireless voice and data services and equipment sales, to consumer, business and government customers across the United States.

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

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