TD Asset Management Inc. lowered its holdings in Verizon Communications Inc. (NYSE:VZ) by 2.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,407,751 shares of the cell phone carrier’s stock after selling 69,189 shares during the period. TD Asset Management Inc. owned about 0.08% of Verizon Communications worth $194,685,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Kanawha Capital Management LLC increased its position in Verizon Communications by 0.7% during the fourth quarter. Kanawha Capital Management LLC now owns 165,533 shares of the cell phone carrier’s stock worth $9,306,000 after acquiring an additional 1,157 shares during the period. Howland Capital Management LLC increased its position in Verizon Communications by 7.0% during the fourth quarter. Howland Capital Management LLC now owns 14,145 shares of the cell phone carrier’s stock worth $795,000 after acquiring an additional 920 shares during the period. Clean Yield Group increased its position in Verizon Communications by 1.3% during the fourth quarter. Clean Yield Group now owns 52,885 shares of the cell phone carrier’s stock worth $2,973,000 after acquiring an additional 700 shares during the period. Tributary Capital Management LLC increased its position in Verizon Communications by 49.1% during the fourth quarter. Tributary Capital Management LLC now owns 17,310 shares of the cell phone carrier’s stock worth $973,000 after acquiring an additional 5,700 shares during the period. Finally, Strs Ohio increased its position in Verizon Communications by 0.4% during the fourth quarter. Strs Ohio now owns 2,735,195 shares of the cell phone carrier’s stock worth $153,772,000 after acquiring an additional 11,591 shares during the period. 65.76% of the stock is currently owned by institutional investors and hedge funds.

In other news, EVP Craig L. Silliman sold 1,349 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $59.20, for a total value of $79,860.80. Following the sale, the executive vice president now owns 26,728 shares in the company, valued at approximately $1,582,297.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 4,047 shares of company stock worth $234,591 in the last 90 days. 0.03% of the stock is owned by corporate insiders.

Verizon Communications stock traded up $0.35 on Friday, hitting $56.65. The company’s stock had a trading volume of 11,810,700 shares, compared to its average volume of 13,933,707. The firm has a market cap of $232.84 billion, a P/E ratio of 12.03, a price-to-earnings-growth ratio of 2.75 and a beta of 0.53. The company has a quick ratio of 0.84, a current ratio of 0.87 and a debt-to-equity ratio of 2.12. The company has a fifty day moving average price of $56.61 and a 200-day moving average price of $57.09. Verizon Communications Inc. has a one year low of $52.28 and a one year high of $61.58.

Verizon Communications (NYSE:VZ) last issued its earnings results on Thursday, August 1st. The cell phone carrier reported $1.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.03. Verizon Communications had a net margin of 12.08% and a return on equity of 34.91%. The company had revenue of $32.07 billion for the quarter, compared to the consensus estimate of $32.42 billion. During the same quarter in the previous year, the company earned $1.20 EPS. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. Analysts anticipate that Verizon Communications Inc. will post 4.8 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were paid a $0.6025 dividend. The ex-dividend date was Tuesday, July 9th. This represents a $2.41 annualized dividend and a dividend yield of 4.25%. Verizon Communications’s dividend payout ratio is presently 51.17%.

Several equities research analysts have issued reports on VZ shares. Zacks Investment Research raised shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a report on Monday, August 5th. UBS Group lowered shares of Verizon Communications from a “buy” rating to a “neutral” rating and set a $57.70 price target on the stock. in a report on Thursday, May 30th. They noted that the move was a valuation call. Goldman Sachs Group reissued a “buy” rating and issued a $65.00 price target on shares of Verizon Communications in a report on Tuesday, April 23rd. Bank of America set a $64.00 price target on shares of Verizon Communications and gave the company a “buy” rating in a report on Tuesday, April 23rd. Finally, Royal Bank of Canada reissued a “neutral” rating and issued a $57.00 price target on shares of Verizon Communications in a report on Tuesday, April 23rd. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Verizon Communications presently has a consensus rating of “Hold” and a consensus price target of $59.33.

Verizon Communications Company 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.

Featured Article: What are gap-down stocks?

Want to see what other hedge funds are holding VZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Verizon Communications Inc. (NYSE:VZ).

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

Receive News & Ratings for Verizon Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verizon Communications and related companies with MarketBeat.com's FREE daily email newsletter.