Verizon Communications Inc. (NYSE:VZ) is Strategic Advisors LLC’s 8th Largest Position

Strategic Advisors LLC lifted its stake in Verizon Communications Inc. (NYSE:VZ) by 0.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 114,834 shares of the cell phone carrier’s stock after purchasing an additional 437 shares during the quarter. Verizon Communications comprises 2.6% of Strategic Advisors LLC’s portfolio, making the stock its 8th biggest holding. Strategic Advisors LLC’s holdings in Verizon Communications were worth $6,931,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in VZ. Vanguard Group Inc. lifted its stake in shares of Verizon Communications by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 324,299,254 shares of the cell phone carrier’s stock worth $18,527,217,000 after acquiring an additional 4,562,510 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Verizon Communications by 1.7% during the 2nd quarter. BlackRock Inc. now owns 317,036,667 shares of the cell phone carrier’s stock worth $18,112,307,000 after acquiring an additional 5,319,802 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Verizon Communications by 1.5% during the 2nd quarter. Northern Trust Corp now owns 53,708,472 shares of the cell phone carrier’s stock worth $3,068,366,000 after acquiring an additional 785,670 shares during the last quarter. Morgan Stanley lifted its stake in shares of Verizon Communications by 5.0% during the 2nd quarter. Morgan Stanley now owns 34,002,255 shares of the cell phone carrier’s stock worth $1,942,547,000 after acquiring an additional 1,627,183 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its stake in shares of Verizon Communications by 6,712.8% during the 2nd quarter. Nuveen Asset Management LLC now owns 29,602,386 shares of the cell phone carrier’s stock worth $1,691,184,000 after acquiring an additional 29,167,876 shares during the last quarter. Hedge funds and other institutional investors own 65.44% of the company’s stock.

In other news, EVP Craig L. Silliman sold 1,349 shares of Verizon Communications stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $56.55, for a total value of $76,285.95. Following the transaction, the executive vice president now directly owns 24,030 shares in the company, valued at approximately $1,358,896.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Tami A. Erwin sold 17,000 shares of Verizon Communications stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $57.75, for a total value of $981,750.00. Following the completion of the transaction, the chief executive officer now owns 853 shares in the company, valued at $49,260.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,047 shares of company stock valued at $1,214,722. 0.03% of the stock is currently owned by corporate insiders.

VZ has been the subject of a number of research analyst reports. Zacks Investment Research raised Verizon Communications from a “hold” rating to a “buy” rating and set a $62.00 price target for the company in a research note on Monday, September 2nd. ValuEngine lowered Verizon Communications from a “hold” rating to a “sell” rating in a research note on Friday, October 4th. Oppenheimer raised Verizon Communications from a “market perform” rating to an “outperform” rating and set a $70.00 target price for the company in a research report on Tuesday, August 27th. Citigroup set a $62.00 target price on Verizon Communications and gave the company a “hold” rating in a research report on Tuesday, September 10th. Finally, SunTrust Banks lifted their target price on Verizon Communications from $61.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. Verizon Communications has an average rating of “Hold” and an average target price of $61.90.

NYSE VZ traded up $0.69 on Friday, reaching $61.10. 6,932,352 shares of the stock traded hands, compared to its average volume of 11,112,230. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.84 and a current ratio of 0.87. The company has a fifty day moving average price of $59.58 and a 200-day moving average price of $57.83. The company has a market cap of $250.42 billion, a price-to-earnings ratio of 12.97, a PEG ratio of 3.02 and a beta of 0.53. Verizon Communications Inc. has a 12 month low of $52.28 and a 12 month high of $61.58.

Verizon Communications (NYSE:VZ) last issued its earnings results on Thursday, August 1st. The cell phone carrier reported $1.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.03. The business had revenue of $32.07 billion during the quarter, compared to analyst estimates of $32.42 billion. Verizon Communications had a return on equity of 34.91% and a net margin of 12.08%. Verizon Communications’s revenue was down .4% on a year-over-year basis. During the same period in the previous year, the company posted $1.20 EPS. As a group, research analysts anticipate that Verizon Communications Inc. will post 4.81 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be given a dividend of $0.615 per share. The ex-dividend date of this dividend is Wednesday, October 9th. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.60. This represents a $2.46 dividend on an annualized basis and a yield of 4.03%. Verizon Communications’s payout ratio is 52.23%.

Verizon Communications Company 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; international travel wireless services; and network access services to deliver various Internet of Things products and services, as well as offers digital advertising and digital media services platforms.

Further Reading: Insider Trading – What You Need to Know

Want to see what other hedge funds are holding VZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Verizon Communications Inc. (NYSE:VZ).

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

Receive News & Ratings for Verizon Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verizon Communications and related companies with MarketBeat.com's FREE daily email newsletter.