Verizon Communications Inc. (VZ) Holdings Reduced by Community Bank N.A.

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Community Bank N.A. lowered its holdings in Verizon Communications Inc. (NYSE:VZ) by 3.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 151,411 shares of the cell phone carrier’s stock after selling 5,467 shares during the quarter. Verizon Communications comprises about 1.4% of Community Bank N.A.’s investment portfolio, making the stock its 17th largest position. Community Bank N.A.’s holdings in Verizon Communications were worth $7,239,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. BlackRock Inc. lifted its stake in shares of Verizon Communications by 0.8% during the fourth quarter. BlackRock Inc. now owns 265,904,768 shares of the cell phone carrier’s stock valued at $14,074,340,000 after acquiring an additional 2,236,290 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Verizon Communications by 14.1% during the fourth quarter. Bank of New York Mellon Corp now owns 48,749,993 shares of the cell phone carrier’s stock valued at $2,580,337,000 after acquiring an additional 6,007,544 shares during the period. Geode Capital Management LLC lifted its stake in shares of Verizon Communications by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 41,135,441 shares of the cell phone carrier’s stock valued at $2,172,530,000 after acquiring an additional 1,282,685 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in shares of Verizon Communications by 6.2% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 21,390,896 shares of the cell phone carrier’s stock valued at $1,132,221,000 after acquiring an additional 1,250,691 shares during the period. Finally, LSV Asset Management lifted its stake in shares of Verizon Communications by 5.5% during the fourth quarter. LSV Asset Management now owns 14,115,327 shares of the cell phone carrier’s stock valued at $747,124,000 after acquiring an additional 729,841 shares during the period. 63.71% of the stock is currently owned by institutional investors.

In other Verizon Communications news, SVP Anthony T. Skiadas sold 1,974 shares of the stock in a transaction dated Tuesday, May 1st. The stock was sold at an average price of $49.44, for a total value of $97,594.56. Following the completion of the sale, the senior vice president now directly owns 16,060 shares in the company, valued at $794,006.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.09% of the stock is owned by corporate insiders.

Several equities analysts have recently issued reports on the company. UBS Group raised Verizon Communications from a “neutral” rating to a “buy” rating in a research note on Wednesday, April 25th. Vetr lowered Verizon Communications from a “strong-buy” rating to a “buy” rating and set a $54.24 price target on the stock. in a research note on Tuesday, March 6th. Guggenheim assumed coverage on Verizon Communications in a research note on Tuesday, March 13th. They set a “buy” rating and a $58.00 price target on the stock. Barclays raised Verizon Communications from an “equal weight” rating to an “overweight” rating and set a $56.00 price target on the stock in a research note on Monday, April 23rd. Finally, HSBC raised Verizon Communications from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research note on Wednesday, March 28th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eighteen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $54.62.

Shares of Verizon Communications opened at $49.31 on Thursday, MarketBeat Ratings reports. Verizon Communications Inc. has a 1 year low of $42.80 and a 1 year high of $54.77. The stock has a market capitalization of $204.75 billion, a price-to-earnings ratio of 13.18, a price-to-earnings-growth ratio of 1.72 and a beta of 0.63. The company has a quick ratio of 0.94, a current ratio of 0.98 and a debt-to-equity ratio of 2.15.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings results on Tuesday, April 24th. The cell phone carrier reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.06. Verizon Communications had a return on equity of 42.62% and a net margin of 24.37%. The company had revenue of $31.77 billion during the quarter, compared to the consensus estimate of $31.25 billion. During the same period in the prior year, the company earned $0.95 earnings per share. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. research analysts predict that Verizon Communications Inc. will post 4.57 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 1st. Shareholders of record on Tuesday, July 10th will be issued a $0.59 dividend. The ex-dividend date is Monday, July 9th. This represents a $2.36 annualized dividend and a dividend yield of 4.79%. Verizon Communications’s dividend payout ratio (DPR) is currently 63.10%.

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; multimedia, business-focused, and location-based services, as well as international travel services; and network access services to deliver various Internet of Things products and services.

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

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