Ffcm LLC lowered its position in shares of Verizon Communications Inc. (NYSE:VZ) by 28.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 204,323 shares of the cell phone carrier’s stock after selling 82,376 shares during the quarter. Verizon Communications makes up approximately 2.2% of Ffcm LLC’s holdings, making the stock its 9th biggest holding. Ffcm LLC’s holdings in Verizon Communications were worth $10,110,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vantage Financial Partners Ltd. Inc. acquired a new stake in Verizon Communications during the second quarter worth approximately $623,000. Shine Investment Advisory Services Inc. boosted its position in Verizon Communications by 190.9% during the third quarter. Shine Investment Advisory Services Inc. now owns 2,705 shares of the cell phone carrier’s stock worth $134,000 after acquiring an additional 1,775 shares during the last quarter. Legacy Advisors LLC acquired a new stake in Verizon Communications during the third quarter worth approximately $132,000. Mountain Capital Investment Advisors Inc acquired a new stake in Verizon Communications during the second quarter worth approximately $156,000. Finally, Regal Wealth Group Inc. boosted its position in Verizon Communications by 0.7% during the second quarter. Regal Wealth Group Inc. now owns 3,682 shares of the cell phone carrier’s stock worth $164,000 after acquiring an additional 24 shares during the last quarter. Hedge funds and other institutional investors own 63.26% of the company’s stock.

Verizon Communications Inc. (VZ) opened at $49.88 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.54. The firm has a market cap of $203,480.00, a price-to-earnings ratio of 6.78, a P/E/G ratio of 2.00 and a beta of 0.58. Verizon Communications Inc. has a 1-year low of $42.80 and a 1-year high of $54.77.

Verizon Communications (NYSE:VZ) last posted its earnings results on Tuesday, January 23rd. The cell phone carrier reported $0.86 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by ($0.02). The business had revenue of $33.96 billion for the quarter, compared to analyst estimates of $33.20 billion. Verizon Communications had a net margin of 23.88% and a return on equity of 48.97%. The business’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.86 EPS. research analysts forecast that Verizon Communications Inc. will post 4.54 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 1st. Investors of record on Wednesday, January 10th were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, January 9th. This represents a $2.36 annualized dividend and a dividend yield of 4.73%. Verizon Communications’s payout ratio is 32.07%.

A number of analysts recently issued reports on VZ shares. SunTrust Banks restated a “hold” rating and set a $50.00 target price on shares of Verizon Communications in a research report on Friday, October 20th. Bank of America set a $52.00 price target on shares of Verizon Communications and gave the company a “buy” rating in a report on Friday, October 20th. KeyCorp reiterated a “hold” rating on shares of Verizon Communications in a report on Saturday, October 21st. Macquarie reiterated a “hold” rating and issued a $52.00 price target on shares of Verizon Communications in a report on Sunday, October 22nd. Finally, ValuEngine upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating in a report on Monday, October 23rd. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $53.37.

In related news, EVP Craig L. Silliman sold 610 shares of Verizon Communications stock in a transaction on Monday, November 27th. The shares were sold at an average price of $47.41, for a total transaction of $28,920.10. Following the transaction, the executive vice president now owns 3,269 shares in the company, valued at approximately $154,983.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.13% of the company’s stock.

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Verizon Communications 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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