Brighton Jones LLC Takes Position in Verizon Communications Inc. (VZ)

Brighton Jones LLC purchased a new stake in shares of Verizon Communications Inc. (NYSE:VZ) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 22,720 shares of the cell phone carrier’s stock, valued at approximately $1,015,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of VZ. Oakmont Partners LLC boosted its stake in shares of Verizon Communications by 0.3% during the 2nd quarter. Oakmont Partners LLC now owns 6,391 shares of the cell phone carrier’s stock worth $285,000 after acquiring an additional 22 shares in the last quarter. Conservest Capital Advisors Inc. boosted its stake in shares of Verizon Communications by 0.5% during the 2nd quarter. Conservest Capital Advisors Inc. now owns 5,024 shares of the cell phone carrier’s stock worth $224,000 after acquiring an additional 23 shares in the last quarter. Nottingham Advisors Inc. boosted its stake in shares of Verizon Communications by 0.5% during the 2nd quarter. Nottingham Advisors Inc. now owns 6,425 shares of the cell phone carrier’s stock worth $287,000 after acquiring an additional 35 shares in the last quarter. Camden National Bank boosted its stake in shares of Verizon Communications by 0.7% during the 2nd quarter. Camden National Bank now owns 4,972 shares of the cell phone carrier’s stock worth $222,000 after acquiring an additional 37 shares in the last quarter. Finally, Cobblestone Capital Advisors LLC NY boosted its stake in shares of Verizon Communications by 0.3% during the 1st quarter. Cobblestone Capital Advisors LLC NY now owns 19,401 shares of the cell phone carrier’s stock worth $946,000 after acquiring an additional 50 shares in the last quarter. 63.37% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have recently weighed in on VZ shares. KeyCorp reissued a “hold” rating on shares of Verizon Communications in a research note on Saturday, October 21st. Cowen reissued a “hold” rating and set a $52.00 price objective on shares of Verizon Communications in a research note on Tuesday, September 19th. Macquarie reissued a “hold” rating and set a $52.00 price objective on shares of Verizon Communications in a research note on Sunday, October 22nd. ValuEngine raised Verizon Communications from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Bank of America set a $52.00 price objective on Verizon Communications and gave the stock a “buy” rating in a research note on Friday, October 20th. Two investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $51.25.

In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of the firm’s stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $49.23, for a total transaction of $30,030.30. Following the transaction, the executive vice president now directly owns 6,599 shares in the company, valued at $324,868.77. The transaction was disclosed in a filing with the SEC, which is available through this link. Over the last 90 days, insiders have sold 1,830 shares of company stock worth $88,609. Corporate insiders own 0.13% of the company’s stock.

Verizon Communications Inc. (VZ) traded down $0.88 during midday trading on Tuesday, reaching $50.84. The company’s stock had a trading volume of 14,066,732 shares, compared to its average volume of 15,631,953. Verizon Communications Inc. has a one year low of $42.80 and a one year high of $54.83. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 4.05. The company has a market capitalization of $209,071.34, a price-to-earnings ratio of 13.67, a P/E/G ratio of 4.81 and a beta of 0.57.

Verizon Communications (NYSE:VZ) last posted its earnings results on Thursday, October 19th. The cell phone carrier reported $0.98 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.98. Verizon Communications had a return on equity of 58.66% and a net margin of 12.80%. The company had revenue of $31.70 billion for the quarter, compared to analyst estimates of $31.45 billion. During the same period last year, the company earned $1.01 earnings per share. The business’s revenue was up 2.5% compared to the same quarter last year. analysts forecast that Verizon Communications Inc. will post 3.77 earnings per share for the current fiscal year.

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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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