Verizon Communications Inc. (NYSE:VZ) Shares Sold by Foster & Motley Inc.

Foster & Motley Inc. decreased its holdings in Verizon Communications Inc. (NYSE:VZ) by 6.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 112,630 shares of the cell phone carrier’s stock after selling 7,965 shares during the period. Foster & Motley Inc.’s holdings in Verizon Communications were worth $4,645,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Koesten Hirschmann & Crabtree INC. purchased a new stake in shares of Verizon Communications during the 1st quarter valued at about $25,000. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Verizon Communications during the fourth quarter valued at approximately $29,000. Mizuho Securities Co. Ltd. acquired a new position in shares of Verizon Communications during the second quarter worth $32,000. MFA Wealth Advisors LLC purchased a new position in shares of Verizon Communications in the second quarter valued at $33,000. Finally, Vima LLC acquired a new stake in Verizon Communications during the 4th quarter valued at $36,000. 62.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

VZ has been the subject of a number of analyst reports. The Goldman Sachs Group started coverage on shares of Verizon Communications in a research report on Monday, July 1st. They issued a “buy” rating and a $50.00 price objective for the company. TD Cowen lifted their price objective on Verizon Communications from $48.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Royal Bank of Canada reiterated a “sector perform” rating and set a $42.00 target price on shares of Verizon Communications in a research note on Tuesday, July 23rd. JPMorgan Chase & Co. dropped their price target on shares of Verizon Communications from $46.00 to $45.00 and set a “neutral” rating for the company in a research note on Tuesday, July 23rd. Finally, Tigress Financial increased their price objective on shares of Verizon Communications from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $45.78.

Verizon Communications Stock Performance

Shares of Verizon Communications stock traded down $0.40 during trading on Thursday, hitting $41.08. 5,098,723 shares of the stock were exchanged, compared to its average volume of 18,378,766. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.60 and a current ratio of 0.63. The stock’s fifty day moving average is $40.92 and its 200 day moving average is $40.52. The stock has a market cap of $172.92 billion, a PE ratio of 15.46, a P/E/G ratio of 3.81 and a beta of 0.41. Verizon Communications Inc. has a 12 month low of $30.14 and a 12 month high of $43.42.

Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Monday, July 22nd. The cell phone carrier reported $1.15 EPS for the quarter, hitting analysts’ consensus estimates of $1.15. Verizon Communications had a net margin of 8.38% and a return on equity of 20.10%. The company had revenue of $32.80 billion for the quarter, compared to the consensus estimate of $33.05 billion. During the same period in the previous year, the firm earned $1.21 EPS. Verizon Communications’s revenue was up .6% on a year-over-year basis. As a group, sell-side analysts anticipate that Verizon Communications Inc. will post 4.57 EPS for the current year.

Verizon Communications Company Profile

Verizon Communications Inc, through its subsidiaries, engages in the provision of communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. It operates in two segments, Verizon Consumer Group (Consumer) and Verizon Business Group (Business).