Lynch & Associates IN Boosts Stake in Verizon Communications Inc. (VZ)

Lynch & Associates IN raised its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 15.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,848 shares of the cell phone carrier’s stock after purchasing an additional 3,935 shares during the quarter. Lynch & Associates IN’s holdings in Verizon Communications were worth $1,477,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Moloney Securities Asset Management LLC grew its position in shares of Verizon Communications by 25.3% in the 3rd quarter. Moloney Securities Asset Management LLC now owns 46,594 shares of the cell phone carrier’s stock worth $2,306,000 after acquiring an additional 9,406 shares in the last quarter. Profit Investment Management LLC grew its position in shares of Verizon Communications by 8.7% in the 3rd quarter. Profit Investment Management LLC now owns 17,709 shares of the cell phone carrier’s stock worth $876,000 after acquiring an additional 1,419 shares in the last quarter. Shell Asset Management Co. grew its position in shares of Verizon Communications by 73.0% in the 3rd quarter. Shell Asset Management Co. now owns 1,380,677 shares of the cell phone carrier’s stock worth $69,020,000 after acquiring an additional 582,623 shares in the last quarter. Stokes & Hubbell Capital Management LLC grew its position in shares of Verizon Communications by 32.2% in the 3rd quarter. Stokes & Hubbell Capital Management LLC now owns 84,508 shares of the cell phone carrier’s stock worth $4,182,000 after acquiring an additional 20,561 shares in the last quarter. Finally, First National Bank of Mount Dora Trust Investment Services grew its position in shares of Verizon Communications by 6.7% in the 3rd quarter. First National Bank of Mount Dora Trust Investment Services now owns 97,792 shares of the cell phone carrier’s stock worth $4,840,000 after acquiring an additional 6,145 shares in the last quarter. Hedge funds and other institutional investors own 63.21% of the company’s stock.

In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of Verizon Communications stock in a transaction on Friday, October 27th. The stock was sold at an average price of $48.62, for a total transaction of $29,658.20. Following the sale, the executive vice president now owns 5,989 shares of the company’s stock, valued at approximately $291,185.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.13% of the stock is owned by insiders.

Shares of Verizon Communications Inc. (VZ) traded up $0.42 during trading on Thursday, reaching $52.11. The company’s stock had a trading volume of 15,420,400 shares, compared to its average volume of 16,410,000. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 4.05. The company has a market cap of $212,580.00, a P/E ratio of 13.36, a P/E/G ratio of 4.80 and a beta of 0.57. Verizon Communications Inc. has a 52-week low of $42.80 and a 52-week high of $53.69.

Verizon Communications (NYSE:VZ) last announced its earnings results on Thursday, October 19th. The cell phone carrier reported $0.98 earnings per share for the quarter, meeting the consensus estimate of $0.98. The firm had revenue of $31.70 billion for the quarter, compared to the consensus estimate of $31.45 billion. Verizon Communications had a return on equity of 58.66% and a net margin of 12.80%. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.01 EPS. equities research analysts predict that Verizon Communications Inc. will post 3.77 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 4.53%. The ex-dividend date of this dividend is Tuesday, January 9th. Verizon Communications’s payout ratio is currently 60.51%.

Several research analysts have recently commented on the company. Moffett Nathanson reiterated a “buy” rating on shares of Verizon Communications in a research report on Thursday, October 12th. Cowen reiterated a “hold” rating and issued a $52.00 target price on shares of Verizon Communications in a research report on Tuesday, September 19th. KeyCorp restated a “hold” rating on shares of Verizon Communications in a research report on Wednesday, October 11th. Robert W. Baird restated a “hold” rating and set a $49.00 price objective on shares of Verizon Communications in a research report on Wednesday, October 4th. Finally, ValuEngine upgraded Verizon Communications from a “hold” rating to a “buy” rating in a research report on Monday, October 23rd. Two analysts have rated the stock with a sell rating, eighteen have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $51.98.

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Verizon Communications Company 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.

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

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