Epstein & White Financial LLC reduced its stake in Verizon Communications Inc. (NYSE:VZ) by 7.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,317 shares of the cell phone carrier’s stock after selling 603 shares during the quarter. Epstein & White Financial LLC’s holdings in Verizon Communications were worth $437,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently made changes to their positions in the company. LFA Lugano Financial Advisors SA bought a new position in shares of Verizon Communications in the 2nd quarter worth $27,000. Toth Financial Advisory Corp purchased a new position in Verizon Communications in the second quarter worth $34,000. HighMark Wealth Management LLC grew its position in Verizon Communications by 52.1% in the second quarter. HighMark Wealth Management LLC now owns 788 shares of the cell phone carrier’s stock worth $43,000 after acquiring an additional 270 shares in the last quarter. Evolution Wealth Advisors LLC increased its stake in Verizon Communications by 166.7% in the second quarter. Evolution Wealth Advisors LLC now owns 800 shares of the cell phone carrier’s stock valued at $44,000 after acquiring an additional 500 shares during the last quarter. Finally, JJJ Advisors Inc. raised its position in Verizon Communications by 192.9% during the second quarter. JJJ Advisors Inc. now owns 1,025 shares of the cell phone carrier’s stock valued at $57,000 after purchasing an additional 675 shares in the last quarter. Institutional investors and hedge funds own 64.85% of the company’s stock.

Shares of NYSE:VZ opened at $58.05 on Friday. Verizon Communications Inc. has a 1 year low of $48.84 and a 1 year high of $62.22. The company has a market cap of $240.21 billion, a PE ratio of 12.59, a P/E/G ratio of 3.67 and a beta of 0.46. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.96 and a quick ratio of 0.93. The stock’s 50-day moving average is $59.66 and its 200 day moving average is $57.28.

Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Friday, July 24th. The cell phone carrier reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.03. Verizon Communications had a return on equity of 32.15% and a net margin of 14.76%. The business had revenue of $30.40 billion during the quarter, compared to analysts’ expectations of $29.98 billion. During the same quarter last year, the business posted $1.23 EPS. The business’s revenue was down 5.2% on a year-over-year basis. Analysts expect that Verizon Communications Inc. will post 4.78 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Friday, October 9th will be paid a $0.6275 dividend. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Thursday, October 8th. This represents a $2.51 dividend on an annualized basis and a yield of 4.32%. Verizon Communications’s dividend payout ratio (DPR) is presently 52.18%.

Several brokerages have recently commented on VZ. Royal Bank of Canada reiterated a “hold” rating and set a $57.00 price objective on shares of Verizon Communications in a research report on Wednesday, September 9th. Raymond James increased their price target on shares of Verizon Communications from $61.00 to $64.00 and gave the company an “outperform” rating in a research report on Monday, July 27th. Argus upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a report on Tuesday, September 8th. Scotiabank upped their price objective on shares of Verizon Communications from $63.00 to $64.00 and gave the company a “sector outperform” rating in a research note on Monday, July 27th. Finally, Oppenheimer started coverage on shares of Verizon Communications in a research report on Tuesday, September 15th. They issued a “buy” rating and a $70.00 target price on the stock. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $62.24.

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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