Verizon Communications Inc. (NYSE:VZ) Shares Sold by Morningstar Investment Services LLC

Morningstar Investment Services LLC decreased its position in Verizon Communications Inc. (NYSE:VZ) by 3.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 856,703 shares of the cell phone carrier’s stock after selling 34,611 shares during the period. Morningstar Investment Services LLC’s holdings in Verizon Communications were worth $42,398,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Capital Research Global Investors grew its stake in shares of Verizon Communications by 15.1% in the 2nd quarter. Capital Research Global Investors now owns 153,408,016 shares of the cell phone carrier’s stock valued at $6,851,202,000 after purchasing an additional 20,070,391 shares during the period. FMR LLC grew its stake in shares of Verizon Communications by 15.0% in the 2nd quarter. FMR LLC now owns 61,833,096 shares of the cell phone carrier’s stock valued at $2,761,466,000 after purchasing an additional 8,077,275 shares during the period. Vanguard Group Inc. grew its stake in shares of Verizon Communications by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 282,894,542 shares of the cell phone carrier’s stock valued at $12,634,070,000 after purchasing an additional 5,837,702 shares during the period. Franklin Resources Inc. grew its stake in shares of Verizon Communications by 19.9% in the 2nd quarter. Franklin Resources Inc. now owns 21,820,729 shares of the cell phone carrier’s stock valued at $974,515,000 after purchasing an additional 3,623,182 shares during the period. Finally, Principal Financial Group Inc. grew its stake in shares of Verizon Communications by 52.6% in the 2nd quarter. Principal Financial Group Inc. now owns 9,014,846 shares of the cell phone carrier’s stock valued at $402,604,000 after purchasing an additional 3,107,054 shares during the period. 63.31% of the stock is owned by hedge funds and other institutional investors.

Verizon Communications Inc. (VZ) traded down $0.25 during trading hours on Thursday, reaching $49.26. The company’s stock had a trading volume of 9,529,987 shares, compared to its average volume of 18,263,965. Verizon Communications Inc. has a 12-month low of $42.80 and a 12-month high of $54.77. The company has a debt-to-equity ratio of 2.54, a quick ratio of 0.87 and a current ratio of 0.91. The firm has a market cap of $200,550.00, a P/E ratio of 15.11, a price-to-earnings-growth ratio of 2.04 and a beta of 0.58.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Tuesday, January 23rd. The cell phone carrier reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.02). The firm had revenue of $33.96 billion for the quarter, compared to analyst estimates of $33.20 billion. Verizon Communications had a return on equity of 48.97% and a net margin of 23.88%. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.86 EPS. analysts forecast that Verizon Communications Inc. will post 4.54 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.79%. The ex-dividend date of this dividend was Tuesday, January 9th. Verizon Communications’s dividend payout ratio (DPR) is currently 72.39%.

Several research firms have recently weighed in on VZ. KeyCorp upped their price objective on Verizon Communications from $50.00 to $53.00 and gave the company a “sector weight” rating in a research note on Tuesday, January 2nd. Bank of America increased their price target on Verizon Communications from $55.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. Nomura increased their price target on Verizon Communications from $61.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. Macquarie restated a “hold” rating and set a $54.00 price target on shares of Verizon Communications in a research report on Wednesday, January 24th. Finally, SunTrust Banks increased their price target on Verizon Communications to $58.00 and gave the stock a “hold” rating in a research report on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and ten have assigned a buy rating to the stock. Verizon Communications presently has a consensus rating of “Hold” and an average target price of $53.51.

In other news, EVP Craig L. Silliman sold 610 shares of the stock in a transaction on Monday, November 27th. The stock was sold at an average price of $47.41, for a total value of $28,920.10. Following the transaction, the executive vice president now owns 3,269 shares of the company’s stock, valued at approximately $154,983.29. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Anthony T. Skiadas sold 6,967 shares of the stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $49.80, for a total value of $346,956.60. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

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Verizon Communications Company 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.

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

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