Acropolis Investment Management LLC held its stake in shares of Verizon Communications Inc. (NYSE:VZ) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,522 shares of the cell phone carrier’s stock at the close of the 2nd quarter. Acropolis Investment Management LLC’s holdings in Verizon Communications were worth $157,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the company. Franklin Parlapiano Turner & Welch LLC purchased a new position in Verizon Communications in the 1st quarter worth $136,000. American Beacon Advisors Inc. purchased a new position in Verizon Communications in the 1st quarter worth $140,000. Proficio Capital Partners LLC raised its stake in Verizon Communications by 139.8% in the 1st quarter. Proficio Capital Partners LLC now owns 3,158 shares of the cell phone carrier’s stock worth $142,000 after acquiring an additional 1,841 shares during the last quarter. Feltz Wealth PLAN Inc. purchased a new position in Verizon Communications in the 1st quarter worth $184,000. Finally, Flaharty Asset Management LLC purchased a new position in Verizon Communications in the 1st quarter worth $203,000. Hedge funds and other institutional investors own 62.23% of the company’s stock.

Verizon Communications Inc. (NYSE VZ) traded up 0.16% during midday trading on Friday, reaching $49.49. The company had a trading volume of 13,021,697 shares. The stock has a market capitalization of $201.89 billion, a PE ratio of 12.72 and a beta of 0.57. Verizon Communications Inc. has a 1-year low of $42.80 and a 1-year high of $54.83. The firm’s 50 day moving average is $48.00 and its 200 day moving average is $47.06.

Verizon Communications (NYSE:VZ) last issued its earnings results on Thursday, July 27th. The cell phone carrier reported $0.96 earnings per share for the quarter, hitting the consensus estimate of $0.96. Verizon Communications had a net margin of 12.88% and a return on equity of 63.06%. The company had revenue of $30.55 billion for the quarter, compared to analyst estimates of $29.84 billion. During the same period in the prior year, the business posted $0.94 earnings per share. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. On average, equities analysts anticipate that Verizon Communications Inc. will post $3.77 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th will be given a dividend of $0.59 per share. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.58. This represents a $2.36 annualized dividend and a yield of 4.77%. The ex-dividend date is Friday, October 6th. Verizon Communications’s dividend payout ratio is presently 59.23%.

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A number of equities analysts recently issued reports on VZ shares. Vetr upgraded Verizon Communications from a “buy” rating to a “strong-buy” rating and set a $50.65 target price for the company in a research note on Wednesday, July 5th. Royal Bank Of Canada restated a “hold” rating and issued a $48.00 target price on shares of Verizon Communications in a research note on Sunday, July 9th. Zacks Investment Research upgraded Verizon Communications from a “sell” rating to a “hold” rating in a research note on Friday, July 7th. BidaskClub upgraded Verizon Communications from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. Finally, Goldman Sachs Group, Inc. (The) restated a “neutral” rating on shares of Verizon Communications in a research note on Wednesday, June 28th. Two investment analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $53.00.

In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of the company’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $47.74, for a total transaction of $29,121.40. Following the transaction, the executive vice president now directly owns 7,819 shares in the company, valued at $373,279.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 1,830 shares of company stock worth $88,828 over the last 90 days. 0.13% of the stock is currently owned by company insiders.

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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