Shepherd Financial Partners LLC trimmed its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 2.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,836 shares of the cell phone carrier’s stock after selling 184 shares during the period. Shepherd Financial Partners LLC’s holdings in Verizon Communications were worth $391,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Foundry Partners LLC grew its stake in Verizon Communications by 10.1% in the second quarter. Foundry Partners LLC now owns 481,450 shares of the cell phone carrier’s stock valued at $27,505,000 after purchasing an additional 44,265 shares in the last quarter. Eqis Capital Management Inc. grew its stake in Verizon Communications by 6.7% in the second quarter. Eqis Capital Management Inc. now owns 35,258 shares of the cell phone carrier’s stock valued at $2,014,000 after purchasing an additional 2,213 shares in the last quarter. Iowa State Bank grew its stake in Verizon Communications by 0.5% in the second quarter. Iowa State Bank now owns 62,206 shares of the cell phone carrier’s stock valued at $3,554,000 after purchasing an additional 320 shares in the last quarter. Mengis Capital Management Inc. grew its stake in Verizon Communications by 2.0% in the second quarter. Mengis Capital Management Inc. now owns 61,776 shares of the cell phone carrier’s stock valued at $3,529,000 after purchasing an additional 1,232 shares in the last quarter. Finally, Liberty Capital Management Inc. grew its stake in Verizon Communications by 5.4% in the second quarter. Liberty Capital Management Inc. now owns 39,132 shares of the cell phone carrier’s stock valued at $2,236,000 after purchasing an additional 2,008 shares in the last quarter. 65.99% of the stock is currently owned by hedge funds and other institutional investors.

In other news, EVP Craig L. Silliman sold 1,349 shares of the company’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $58.15, for a total transaction of $78,444.35. Following the completion of the sale, the executive vice president now owns 25,379 shares in the company, valued at approximately $1,475,788.85. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last quarter, insiders have sold 4,047 shares of company stock valued at $234,591. 0.03% of the stock is currently owned by corporate insiders.

A number of research analysts have commented on the company. Citigroup downgraded Verizon Communications from a “buy” rating to a “neutral” rating and set a $62.00 target price on the stock. in a research note on Monday, July 8th. UBS Group downgraded Verizon Communications from a “buy” rating to a “neutral” rating and set a $57.70 price target for the company. in a research note on Thursday, May 30th. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded Verizon Communications from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research note on Monday, August 5th. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $59.33.

Shares of VZ traded up $0.05 during trading hours on Thursday, hitting $56.64. 391,792 shares of the company were exchanged, compared to its average volume of 13,705,573. The company has a market cap of $235.74 billion, a PE ratio of 12.03, a PEG ratio of 2.78 and a beta of 0.53. The firm’s 50 day moving average is $56.55 and its 200-day moving average is $57.10. Verizon Communications Inc. has a 52 week low of $52.28 and a 52 week high of $61.58. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.84 and a current ratio of 0.87.

Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Thursday, August 1st. The cell phone carrier reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.03. The company had revenue of $32.07 billion during the quarter, compared to the consensus estimate of $32.42 billion. Verizon Communications had a return on equity of 34.91% and a net margin of 12.08%. The firm’s revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.20 EPS. As a group, equities analysts forecast that Verizon Communications Inc. will post 4.8 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were paid a dividend of $0.6025 per share. The ex-dividend date was Tuesday, July 9th. This represents a $2.41 annualized dividend and a dividend yield of 4.25%. Verizon Communications’s dividend payout ratio (DPR) is presently 51.17%.

Verizon Communications Profile

Verizon Communications Inc, through its subsidiaries, offers communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company's Wireless segment provides wireless voice and data services; Internet access on various notebook computers and tablets; international travel wireless services; and network access services to deliver various Internet of Things products and services, as well as offers digital advertising and digital media services platforms.

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

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