Verizon Communications Inc. (VZ) Position Decreased by Beacon Investment Advisory Services Inc.

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Beacon Investment Advisory Services Inc. lessened its position in shares of Verizon Communications Inc. (NYSE:VZ) by 9.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 43,050 shares of the cell phone carrier’s stock after selling 4,358 shares during the quarter. Beacon Investment Advisory Services Inc.’s holdings in Verizon Communications were worth $2,298,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Advisory Inc. bought a new position in Verizon Communications during the 2nd quarter worth $353,508,000. Boston Partners increased its holdings in shares of Verizon Communications by 133.5% in the second quarter. Boston Partners now owns 10,503,382 shares of the cell phone carrier’s stock worth $528,426,000 after purchasing an additional 6,005,801 shares during the period. FMR LLC grew its stake in shares of Verizon Communications by 8.6% during the second quarter. FMR LLC now owns 69,165,256 shares of the cell phone carrier’s stock valued at $3,479,704,000 after buying an additional 5,481,532 shares during the last quarter. MERIAN GLOBAL INVESTORS UK Ltd lifted its holdings in shares of Verizon Communications by 1,824.4% during the third quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 5,743,306 shares of the cell phone carrier’s stock valued at $306,635,000 after purchasing an additional 5,444,863 shares during the last quarter. Finally, Sanders Capital LLC bought a new stake in Verizon Communications in the 3rd quarter worth approximately $243,064,000. Institutional investors own 66.14% of the company’s stock.

VZ opened at $54.48 on Thursday. Verizon Communications Inc. has a 1-year low of $46.08 and a 1-year high of $61.58. The company has a market capitalization of $224.64 billion, a PE ratio of 11.57, a price-to-earnings-growth ratio of 2.85 and a beta of 0.48. The company has a debt-to-equity ratio of 1.94, a current ratio of 0.91 and a quick ratio of 0.88.

Verizon Communications (NYSE:VZ) last issued its earnings results on Tuesday, January 29th. The cell phone carrier reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.03. The business had revenue of $34.28 billion during the quarter, compared to analysts’ expectations of $34.45 billion. Verizon Communications had a return on equity of 35.96% and a net margin of 11.87%. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.86 EPS. As a group, sell-side analysts predict that Verizon Communications Inc. will post 4.66 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, February 1st. Shareholders of record on Thursday, January 10th were paid a $0.6025 dividend. The ex-dividend date was Wednesday, January 9th. This represents a $2.41 dividend on an annualized basis and a yield of 4.42%. Verizon Communications’s payout ratio is presently 51.17%.

A number of research firms have issued reports on VZ. ValuEngine cut shares of Verizon Communications from a “buy” rating to a “hold” rating in a report on Tuesday, January 29th. Zacks Investment Research upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a report on Saturday, January 26th. Tigress Financial restated a “hold” rating on shares of Verizon Communications in a research note on Friday, December 28th. Morgan Stanley lowered Verizon Communications from an “overweight” rating to an “equal weight” rating and set a $58.00 price target for the company. in a report on Wednesday, December 12th. Finally, JPMorgan Chase & Co. lowered Verizon Communications from an “overweight” rating to a “neutral” rating and set a $59.89 price target on the stock. in a research note on Sunday, December 9th. Nine equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Verizon Communications currently has a consensus rating of “Buy” and a consensus target price of $55.90.

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About Verizon Communications

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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