Verizon Communications Inc. (VZ) Shares Sold by Salem Capital Management Inc.

Salem Capital Management Inc. cut its position in Verizon Communications Inc. (NYSE:VZ) by 4.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 81,675 shares of the cell phone carrier’s stock after selling 3,675 shares during the quarter. Verizon Communications makes up approximately 2.2% of Salem Capital Management Inc.’s investment portfolio, making the stock its 19th largest holding. Salem Capital Management Inc.’s holdings in Verizon Communications were worth $4,323,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of VZ. Regal Wealth Group Inc. grew its position in Verizon Communications by 0.7% in the 2nd quarter. Regal Wealth Group Inc. now owns 3,682 shares of the cell phone carrier’s stock worth $164,000 after purchasing an additional 24 shares during the last quarter. Glassman Wealth Services grew its position in Verizon Communications by 0.4% in the 2nd quarter. Glassman Wealth Services now owns 7,719 shares of the cell phone carrier’s stock worth $345,000 after purchasing an additional 31 shares during the last quarter. Camden National Bank grew its position in Verizon Communications by 0.7% in the 2nd quarter. Camden National Bank now owns 4,972 shares of the cell phone carrier’s stock worth $222,000 after purchasing an additional 37 shares during the last quarter. DF Dent & Co. Inc. grew its position in Verizon Communications by 0.6% in the 2nd quarter. DF Dent & Co. Inc. now owns 8,506 shares of the cell phone carrier’s stock worth $380,000 after purchasing an additional 50 shares during the last quarter. Finally, Aureus Asset Management LLC grew its position in Verizon Communications by 0.6% in the 2nd quarter. Aureus Asset Management LLC now owns 11,190 shares of the cell phone carrier’s stock worth $500,000 after purchasing an additional 70 shares during the last quarter. Institutional investors and hedge funds own 64.37% of the company’s stock.

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In other Verizon Communications news, SVP Anthony T. Skiadas sold 6,967 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $49.80, for a total value of $346,956.60. Following the completion of the sale, the senior vice president now owns 16,059 shares in the company, valued at approximately $799,738.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.13% of the company’s stock.

Verizon Communications Inc. (NYSE:VZ) opened at $48.80 on Tuesday. Verizon Communications Inc. has a 1-year low of $42.80 and a 1-year high of $54.77. The stock has a market cap of $199,080.00, a PE ratio of 15.02, a P/E/G ratio of 1.99 and a beta of 0.67. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.54.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings results 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 the consensus estimate of $33.20 billion. Verizon Communications had a net margin of 23.88% and a return on equity of 48.97%. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.86 earnings per share. equities analysts predict that Verizon Communications Inc. will post 4.55 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Shareholders of record on Tuesday, April 10th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 4.84%. The ex-dividend date is Monday, April 9th. Verizon Communications’s payout ratio is presently 72.62%.

Several analysts have issued reports on the stock. KeyCorp raised their price target on shares of Verizon Communications from $50.00 to $53.00 and gave the stock a “sector weight” rating in a research report on Tuesday, January 2nd. Macquarie restated a “hold” rating and issued a $54.00 price target on shares of Verizon Communications in a research report on Wednesday, January 24th. Nomura raised their price target on shares of Verizon Communications from $61.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. Bank of America raised their price target on shares of Verizon Communications from $55.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. Finally, SunTrust Banks raised their price target on shares of Verizon Communications to $58.00 and gave the stock a “hold” rating in a research report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and ten have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $53.45.

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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.

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

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