Verizon Communications Inc. (VZ) Holdings Cut by Brighton Jones LLC

Brighton Jones LLC lessened its holdings in Verizon Communications Inc. (NYSE:VZ) by 20.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,399 shares of the cell phone carrier’s stock after selling 5,210 shares during the quarter. Brighton Jones LLC’s holdings in Verizon Communications were worth $975,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Northstar Asset Management LLC grew its stake in shares of Verizon Communications by 2.9% during the 4th quarter. Northstar Asset Management LLC now owns 35,391 shares of the cell phone carrier’s stock worth $1,873,000 after acquiring an additional 1,000 shares during the period. Halbert Hargrove Russell LLC grew its stake in shares of Verizon Communications by 19.3% during the 4th quarter. Halbert Hargrove Russell LLC now owns 6,268 shares of the cell phone carrier’s stock worth $332,000 after acquiring an additional 1,013 shares during the period. Neville Rodie & Shaw Inc. lifted its holdings in Verizon Communications by 1.4% during the 4th quarter. Neville Rodie & Shaw Inc. now owns 74,755 shares of the cell phone carrier’s stock worth $3,957,000 after purchasing an additional 1,020 shares in the last quarter. Tompkins Financial Corp lifted its holdings in Verizon Communications by 1.4% during the 4th quarter. Tompkins Financial Corp now owns 77,349 shares of the cell phone carrier’s stock worth $4,094,000 after purchasing an additional 1,043 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its holdings in Verizon Communications by 11.3% during the 4th quarter. Quadrant Capital Group LLC now owns 10,266 shares of the cell phone carrier’s stock worth $527,000 after purchasing an additional 1,046 shares in the last quarter. Hedge funds and other institutional investors own 63.71% of the company’s stock.

A number of analysts recently issued reports on the company. UBS Group raised Verizon Communications from a “neutral” rating to a “buy” rating in a report on Wednesday, April 25th. Vetr cut Verizon Communications from a “strong-buy” rating to a “buy” rating and set a $54.24 price objective on the stock. in a report on Tuesday, March 6th. Guggenheim assumed coverage on Verizon Communications in a report on Tuesday, March 13th. They set a “buy” rating and a $58.00 price objective on the stock. Barclays raised Verizon Communications from an “equal weight” rating to an “overweight” rating and set a $56.00 price objective on the stock in a report on Monday, April 23rd. Finally, HSBC raised Verizon Communications from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a report on Wednesday, March 28th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $54.62.

NYSE:VZ opened at $50.31 on Friday. Verizon Communications Inc. has a twelve month low of $42.80 and a twelve month high of $54.77. The stock has a market capitalization of $203.55 billion, a price-to-earnings ratio of 13.45, a price-to-earnings-growth ratio of 1.71 and a beta of 0.63. The company has a debt-to-equity ratio of 2.15, a quick ratio of 0.94 and a current ratio of 0.98.

Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Tuesday, April 24th. The cell phone carrier reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.06. Verizon Communications had a return on equity of 42.62% and a net margin of 24.37%. The firm had revenue of $31.77 billion for the quarter, compared to analysts’ expectations of $31.25 billion. During the same quarter last year, the firm posted $0.95 EPS. The company’s revenue was up 6.6% compared to the same quarter last year. research analysts expect that Verizon Communications Inc. will post 4.58 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 1st. Shareholders of record on Tuesday, July 10th will be issued a $0.59 dividend. The ex-dividend date is Monday, July 9th. This represents a $2.36 annualized dividend and a dividend yield of 4.69%. Verizon Communications’s payout ratio is currently 63.10%.

In other Verizon Communications news, SVP Anthony T. Skiadas sold 1,974 shares of the firm’s stock in a transaction dated Tuesday, May 1st. The stock was sold at an average price of $49.44, for a total value of $97,594.56. Following the sale, the senior vice president now owns 16,060 shares of the company’s stock, valued at approximately $794,006.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.09% of the company’s stock.

About Verizon Communications

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; multimedia, business-focused, and location-based services, as well as international travel services; and network access services to deliver various Internet of Things products and services.

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

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