Verizon Communications Inc. (NYSE:VZ) Shares Sold by Teamwork Financial Advisors LLC

Teamwork Financial Advisors LLC reduced its position in shares of Verizon Communications Inc. (NYSE:VZ) by 9.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,363 shares of the cell phone carrier’s stock after selling 1,728 shares during the period. Teamwork Financial Advisors LLC’s holdings in Verizon Communications were worth $884,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of VZ. Vanguard Group Inc. increased its stake in shares of Verizon Communications by 0.6% in the second quarter. Vanguard Group Inc. now owns 322,781,339 shares of the cell phone carrier’s stock worth $18,085,438,000 after buying an additional 1,818,309 shares during the last quarter. State Street Corp increased its stake in shares of Verizon Communications by 2.7% in the second quarter. State Street Corp now owns 164,065,503 shares of the cell phone carrier’s stock worth $9,192,590,000 after buying an additional 4,271,210 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Verizon Communications by 3.5% in the second quarter. Geode Capital Management LLC now owns 69,367,817 shares of the cell phone carrier’s stock worth $3,875,723,000 after buying an additional 2,333,084 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Verizon Communications by 16.5% in the second quarter. Charles Schwab Investment Management Inc. now owns 49,212,773 shares of the cell phone carrier’s stock worth $2,757,392,000 after buying an additional 6,958,789 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Verizon Communications by 3.1% during the second quarter. Bank of New York Mellon Corp now owns 43,882,051 shares of the cell phone carrier’s stock valued at $2,458,710,000 after purchasing an additional 1,334,080 shares during the last quarter. 63.61% of the stock is currently owned by institutional investors and hedge funds.

VZ stock opened at $51.66 on Thursday. The company has a market capitalization of $213.88 billion, a P/E ratio of 9.69, a PEG ratio of 3.06 and a beta of 0.43. The company has a 50-day simple moving average of $52.94 and a 200 day simple moving average of $55.02. Verizon Communications Inc. has a fifty-two week low of $50.65 and a fifty-two week high of $61.95. The company has a quick ratio of 0.92, a current ratio of 0.97 and a debt-to-equity ratio of 1.83.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Tuesday, October 19th. The cell phone carrier reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.05. Verizon Communications had a net margin of 16.42% and a return on equity of 29.72%. The business had revenue of $32.90 billion during the quarter, compared to the consensus estimate of $33.24 billion. During the same quarter in the prior year, the company posted $1.25 earnings per share. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. Equities analysts anticipate that Verizon Communications Inc. will post 5.37 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, November 1st. Shareholders of record on Friday, October 8th were issued a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a yield of 4.96%. This is an increase from Verizon Communications’s previous quarterly dividend of $0.63. The ex-dividend date was Thursday, October 7th. Verizon Communications’s dividend payout ratio is presently 48.03%.

Several analysts have weighed in on VZ shares. Barclays lowered their target price on shares of Verizon Communications from $56.00 to $55.00 and set an “equal weight” rating for the company in a research note on Monday, October 11th. Raymond James reiterated a “buy” rating and set a $64.00 target price on shares of Verizon Communications in a research note on Tuesday, September 28th. Loop Capital started coverage on shares of Verizon Communications in a research report on Monday, September 20th. They set a “hold” rating and a $57.00 price target for the company. Wells Fargo & Company lowered their price target on shares of Verizon Communications from $58.00 to $56.00 and set an “equal weight” rating for the company in a research report on Thursday, October 21st. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Verizon Communications in a research report on Tuesday, October 19th. They set a “hold” rating and a $55.00 price target for the company. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Verizon Communications currently has a consensus rating of “Hold” and a consensus price target of $60.00.

In other Verizon Communications news, EVP Craig L. Silliman sold 1,554 shares of the company’s stock in a transaction dated Monday, October 4th. The shares were sold at an average price of $54.45, for a total value of $84,615.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 4,662 shares of company stock valued at $252,898 over the last three months. 0.10% of the stock is owned by corporate insiders.

About Verizon Communications

Verizon Communications, Inc is a holding company, which engages in the provision of communications, information, and entertainment products and services to consumers, businesses, and governmental agencies. It operates through the Verizon Consumer Group (Consumer) and Verizon Business Group (Business) segments.

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

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