Grove Bank & Trust lifted its holdings in Verizon Communications Inc. (NYSE:VZ) by 7.9% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 48,421 shares of the cell phone carrier’s stock after buying an additional 3,539 shares during the period. Verizon Communications makes up approximately 1.2% of Grove Bank & Trust’s portfolio, making the stock its 18th biggest holding. Grove Bank & Trust’s holdings in Verizon Communications were worth $2,396,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Legacy Advisors LLC bought a new stake in shares of Verizon Communications in the 3rd quarter worth approximately $132,000. Shine Investment Advisory Services Inc. raised its holdings in shares of Verizon Communications by 190.9% in the 3rd quarter. Shine Investment Advisory Services Inc. now owns 2,705 shares of the cell phone carrier’s stock worth $134,000 after purchasing an additional 1,775 shares during the period. Private Vista LLC raised its holdings in shares of Verizon Communications by 3,339.1% in the 2nd quarter. Private Vista LLC now owns 389,552 shares of the cell phone carrier’s stock worth $143,000 after purchasing an additional 378,225 shares during the period. Mountain Capital Investment Advisors Inc bought a new stake in shares of Verizon Communications in the 2nd quarter worth approximately $156,000. Finally, Regal Wealth Group Inc. raised its holdings in shares of 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 period. Hedge funds and other institutional investors own 63.31% of the company’s stock.

Verizon Communications Inc. (NYSE VZ) opened at $50.08 on Wednesday. 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 $204,300.00, a price-to-earnings ratio of 6.80, a P/E/G ratio of 2.03 and a beta of 0.58. The company has a debt-to-equity ratio of 2.54, a current ratio of 0.91 and a quick ratio of 0.87.

Verizon Communications (NYSE:VZ) last announced its 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). Verizon Communications had a return on equity of 48.97% and a net margin of 23.88%. The company had revenue of $33.96 billion during the quarter, compared to analysts’ expectations of $33.20 billion. During the same quarter last year, the firm posted $0.86 earnings per share. The firm’s revenue was up 2.2% on a year-over-year basis. analysts predict that Verizon Communications Inc. will post 4.54 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th were given a dividend of $0.59 per share. The ex-dividend date was Tuesday, January 9th. This represents a $2.36 annualized dividend and a yield of 4.71%. Verizon Communications’s payout ratio is 32.07%.

In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of the company’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $47.41, for a total transaction of $28,920.10. Following the completion of the sale, the executive vice president now directly owns 3,269 shares in the company, valued at $154,983.29. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.13% of the company’s stock.

A number of research firms recently commented on VZ. SunTrust Banks lifted their price target on shares of Verizon Communications to $58.00 and gave the stock a “hold” rating in a report on Wednesday, January 24th. Zacks Investment Research raised shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a report on Tuesday. Bank of America boosted their target price on shares of Verizon Communications from $55.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. JPMorgan Chase & Co. boosted their target price on shares of Verizon Communications from $52.00 to $58.00 and gave the company a “neutral” rating in a report on Wednesday, January 24th. Finally, Scotia Howard Weill raised shares of Verizon Communications from a “sector perform” rating to a “sector outperform” rating in a report on Monday, January 22nd. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and ten have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $53.51.

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About Verizon Communications

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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