Douglass Winthrop Advisors LLC Decreases Position in Verizon Communications Inc. (NYSE:VZ)

Douglass Winthrop Advisors LLC lessened its holdings in Verizon Communications Inc. (NYSE:VZ) by 9.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 49,295 shares of the cell phone carrier’s stock after selling 5,397 shares during the quarter. Douglass Winthrop Advisors LLC’s holdings in Verizon Communications were worth $2,662,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Verizon Communications by 12.8% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 766,270 shares of the cell phone carrier’s stock worth $42,934,000 after acquiring an additional 87,046 shares during the last quarter. Brighton Jones LLC grew its holdings in Verizon Communications by 10.6% in the 2nd quarter. Brighton Jones LLC now owns 36,762 shares of the cell phone carrier’s stock worth $2,060,000 after acquiring an additional 3,512 shares during the last quarter. Cidel Asset Management Inc. bought a new stake in shares of Verizon Communications during the 2nd quarter valued at about $250,000. Marks Group Wealth Management Inc boosted its stake in shares of Verizon Communications by 7.8% during the 2nd quarter. Marks Group Wealth Management Inc now owns 13,387 shares of the cell phone carrier’s stock valued at $754,000 after purchasing an additional 965 shares in the last quarter. Finally, PARK CIRCLE Co boosted its stake in shares of Verizon Communications by 3.1% during the 2nd quarter. PARK CIRCLE Co now owns 26,800 shares of the cell phone carrier’s stock valued at $1,502,000 after purchasing an additional 800 shares in the last quarter. Institutional investors own 62.53% of the company’s stock.

VZ stock traded down $0.19 during midday trading on Friday, reaching $53.33. 224,790 shares of the company’s stock traded hands, compared to its average volume of 21,763,605. Verizon Communications Inc. has a 52-week low of $49.69 and a 52-week high of $59.85. The stock has a market cap of $223.87 billion, a P/E ratio of 10.04, a PEG ratio of 3.04 and a beta of 0.44. The company has a current ratio of 0.97, a quick ratio of 0.92 and a debt-to-equity ratio of 1.83. The stock’s 50-day moving average is $52.06 and its 200 day moving average is $53.79.

Verizon Communications (NYSE:VZ) last announced its earnings results on Tuesday, October 19th. The cell phone carrier reported $1.41 EPS for the quarter, beating the Zacks’ 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 analysts’ expectations of $33.24 billion. During the same period in the prior year, the company earned $1.25 earnings per share. The firm’s revenue was up 4.4% on a year-over-year basis. As a group, research analysts expect that Verizon Communications Inc. will post 5.39 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 1st. Shareholders of record on Monday, January 10th will be issued a dividend of $0.64 per share. The ex-dividend date is Friday, January 7th. This represents a $2.56 dividend on an annualized basis and a yield of 4.80%. Verizon Communications’s dividend payout ratio is currently 48.03%.

In other Verizon Communications news, EVP Craig L. Silliman sold 1,554 shares of the company’s stock in a transaction that occurred on Thursday, November 4th. The shares were sold at an average price of $52.91, for a total value of $82,222.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.10% of the stock is currently owned by corporate insiders.

VZ has been the topic of several research reports. Loop Capital initiated coverage on shares of Verizon Communications in a research note on Monday, September 20th. They set a “hold” rating and a $57.00 price objective on the stock. Daiwa Capital Markets started coverage on shares of Verizon Communications in a research note on Thursday, December 23rd. They set a “neutral” rating and a $57.00 price objective on the stock. The Goldman Sachs Group cut shares of Verizon Communications from a “conviction-buy” rating to a “buy” rating in a report on Tuesday. Raymond James reaffirmed a “buy” rating and issued a $64.00 target price on shares of Verizon Communications in a report on Tuesday, September 28th. Finally, Wells Fargo & Company decreased their target price on shares of Verizon Communications from $58.00 to $56.00 and set an “equal weight” rating for the company in a report on Thursday, October 21st. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $59.80.

Verizon Communications Company Profile

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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