Jupiter Asset Management Ltd. trimmed its stake in Verizon Communications Inc. (NYSE:VZ) by 0.2% during the 3rd quarter, Holdings Channel reports. The firm owned 1,132,724 shares of the cell phone carrier’s stock after selling 2,730 shares during the period. Verizon Communications accounts for about 1.9% of Jupiter Asset Management Ltd.’s holdings, making the stock its 8th largest position. Jupiter Asset Management Ltd.’s holdings in Verizon Communications were worth $56,059,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. CAPROCK Group Inc. boosted its position in shares of Verizon Communications by 2.3% during the 2nd quarter. CAPROCK Group Inc. now owns 37,942 shares of the cell phone carrier’s stock valued at $1,694,000 after acquiring an additional 861 shares in the last quarter. Exchange Capital Management Inc. boosted its position in shares of Verizon Communications by 965.8% during the 2nd quarter. Exchange Capital Management Inc. now owns 44,613 shares of the cell phone carrier’s stock valued at $1,992,000 after acquiring an additional 40,427 shares in the last quarter. Weatherly Asset Management L. P. boosted its position in shares of Verizon Communications by 2.7% during the 2nd quarter. Weatherly Asset Management L. P. now owns 49,619 shares of the cell phone carrier’s stock valued at $2,216,000 after acquiring an additional 1,325 shares in the last quarter. Grove Bank & Trust boosted its position in shares of Verizon Communications by 6.2% during the 2nd quarter. Grove Bank & Trust now owns 44,882 shares of the cell phone carrier’s stock valued at $2,004,000 after acquiring an additional 2,616 shares in the last quarter. Finally, Welch Investments LLC boosted its position in shares of Verizon Communications by 12.8% during the 2nd quarter. Welch Investments LLC now owns 88,884 shares of the cell phone carrier’s stock valued at $3,970,000 after acquiring an additional 10,105 shares in the last quarter. Institutional investors own 63.31% of the company’s stock.

Verizon Communications Inc. (NYSE:VZ) opened at $49.51 on Thursday. Verizon Communications Inc. has a 12 month low of $42.80 and a 12 month high of $54.77. The firm has a market cap of $201,970.00, a PE ratio of 15.19, a price-to-earnings-growth ratio of 2.04 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 for the quarter, missing the Zacks’ 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 the consensus estimate of $33.20 billion. During the same period in the prior year, the firm posted $0.86 earnings per share. The company’s revenue was up 2.2% on a year-over-year basis. sell-side analysts anticipate that Verizon Communications Inc. will post 4.54 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 1st. Investors of record on Wednesday, January 10th were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.77%. The ex-dividend date of this dividend was Tuesday, January 9th. Verizon Communications’s dividend payout ratio (DPR) is 72.39%.

VZ has been the topic of several recent research reports. Scotiabank upgraded shares of Verizon Communications from a “sector perform” rating to a “buy” rating and set a $60.00 target price on the stock in a research report on Monday, January 22nd. Bank of America set a $52.00 price target on shares of Verizon Communications and gave the company a “buy” rating in a research report on Friday, October 20th. Instinet boosted their price target on shares of Verizon Communications from $47.00 to $61.00 and gave the company a “buy” rating in a research report on Tuesday, December 12th. Nomura upgraded shares of Verizon Communications from a “neutral” rating to a “buy” rating and boosted their price target for the company from $47.00 to $61.00 in a research report on Tuesday, December 12th. Finally, ValuEngine upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and ten have issued a buy rating to the stock. Verizon Communications presently has a consensus rating of “Hold” and a consensus target price of $53.51.

In related news, EVP Craig L. Silliman sold 610 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 3,269 shares of the company’s stock, valued at $154,983.29. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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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