Kanawha Capital Management LLC boosted its position in Verizon Communications Inc. (NYSE:VZ) by 0.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 165,533 shares of the cell phone carrier’s stock after acquiring an additional 1,157 shares during the quarter. Verizon Communications accounts for approximately 1.5% of Kanawha Capital Management LLC’s portfolio, making the stock its 28th largest holding. Kanawha Capital Management LLC’s holdings in Verizon Communications were worth $9,306,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in VZ. Vanguard Group Inc. grew its stake in shares of Verizon Communications by 1.3% during the third quarter. Vanguard Group Inc. now owns 303,821,942 shares of the cell phone carrier’s stock valued at $16,221,053,000 after buying an additional 3,957,224 shares during the last quarter. Vanguard Group Inc grew its stake in shares of Verizon Communications by 1.3% during the third quarter. Vanguard Group Inc now owns 303,821,942 shares of the cell phone carrier’s stock valued at $16,221,053,000 after buying an additional 3,957,224 shares during the last quarter. BlackRock Inc. grew its stake in shares of Verizon Communications by 2.3% during the third quarter. BlackRock Inc. now owns 276,264,842 shares of the cell phone carrier’s stock valued at $14,749,779,000 after buying an additional 6,117,952 shares during the last quarter. Capital World Investors grew its stake in shares of Verizon Communications by 9.9% during the third quarter. Capital World Investors now owns 71,733,981 shares of the cell phone carrier’s stock valued at $3,829,877,000 after buying an additional 6,485,041 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Verizon Communications by 12,167,820.7% during the third quarter. Bank of New York Mellon Corp now owns 55,242,360 shares of the cell phone carrier’s stock valued at $2,949,390,000 after buying an additional 55,241,906 shares during the last quarter. 66.97% of the stock is currently owned by institutional investors and hedge funds.

Verizon Communications stock opened at $58.04 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.91 and a debt-to-equity ratio of 1.94. The stock has a market cap of $239.59 billion, a PE ratio of 12.32, a PEG ratio of 2.62 and a beta of 0.51. Verizon Communications Inc. has a 1-year low of $46.08 and a 1-year high of $61.58.

Verizon Communications (NYSE:VZ) last posted its earnings results on Tuesday, January 29th. The cell phone carrier reported $1.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.09 by $0.03. The company had revenue of $34.28 billion during the quarter, compared to analyst estimates of $34.45 billion. Verizon Communications had a net margin of 11.87% and a return on equity of 35.96%. Verizon Communications’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.86 earnings per share. Sell-side analysts predict that Verizon Communications Inc. will post 4.66 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be issued a dividend of $0.6025 per share. The ex-dividend date is Tuesday, April 9th. This represents a $2.41 dividend on an annualized basis and a dividend yield of 4.15%. Verizon Communications’s dividend payout ratio is currently 51.17%.

In other Verizon Communications news, Director Lowell C. Mcadam sold 285,988 shares of the firm’s stock in a transaction dated Tuesday, February 26th. The shares were sold at an average price of $56.72, for a total value of $16,221,239.36. Following the completion of the sale, the director now directly owns 362,932 shares in the company, valued at $20,585,503.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Craig L. Silliman sold 1,349 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $60.30, for a total transaction of $81,344.70. Following the completion of the sale, the executive vice president now owns 29,426 shares of the company’s stock, valued at $1,774,387.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 288,686 shares of company stock valued at $16,379,639. 0.03% of the stock is currently owned by company insiders.

A number of research analysts have recently issued reports on VZ shares. Zacks Investment Research raised Verizon Communications from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a research note on Saturday, January 26th. ValuEngine upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating in a report on Friday, December 21st. Finally, Tigress Financial reiterated a “hold” rating on shares of Verizon Communications in a report on Friday, December 28th. Nine research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Verizon Communications currently has a consensus rating of “Hold” and an average price target of $56.07.

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About Verizon Communications

Verizon Communications, Inc is a holding company, which engages in the provision communications, information and entertainment products and services to consumers, businesses and governmental agencies. It operates through Wireless and Wireline segments. The Wireless segment provides wireless voice and data services and equipment sales, which are provided to consumer, business, and government customers.

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

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