JGP Wealth Management LLC boosted its position in shares of Verizon Communications Inc. (NYSE:VZ) by 9.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,798 shares of the cell phone carrier’s stock after acquiring an additional 3,382 shares during the period. JGP Wealth Management LLC’s holdings in Verizon Communications were worth $2,170,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. HBK Sorce Advisory LLC lifted its holdings in shares of Verizon Communications by 1.4% in the 3rd quarter. HBK Sorce Advisory LLC now owns 64,695 shares of the cell phone carrier’s stock worth $3,454,000 after acquiring an additional 879 shares during the last quarter. Wade G W & Inc. lifted its holdings in shares of Verizon Communications by 2.0% in the 3rd quarter. Wade G W & Inc. now owns 45,899 shares of the cell phone carrier’s stock worth $2,451,000 after acquiring an additional 888 shares during the last quarter. AlphaMark Advisors LLC lifted its holdings in shares of Verizon Communications by 1.3% in the 3rd quarter. AlphaMark Advisors LLC now owns 69,929 shares of the cell phone carrier’s stock worth $3,734,000 after acquiring an additional 889 shares during the last quarter. Independence Advisors LLC lifted its holdings in shares of Verizon Communications by 21.0% in the 3rd quarter. Independence Advisors LLC now owns 5,180 shares of the cell phone carrier’s stock worth $277,000 after acquiring an additional 898 shares during the last quarter. Finally, Vantage Investment Advisors LLC raised its holdings in Verizon Communications by 6.8% during the 3rd quarter. Vantage Investment Advisors LLC now owns 14,080 shares of the cell phone carrier’s stock valued at $729,000 after buying an additional 901 shares during the last quarter. 65.90% of the stock is owned by institutional investors.

Shares of Verizon Communications stock opened at $58.39 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 1.94. The firm has a market cap of $241.03 billion, a price-to-earnings ratio of 12.40, a P/E/G ratio of 2.27 and a beta of 0.50. Verizon Communications Inc. has a 12-month low of $46.08 and a 12-month high of $61.58.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Tuesday, January 29th. The cell phone carrier reported $1.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.09 by $0.03. The business had revenue of $34.28 billion for the quarter, compared to the consensus estimate of $34.45 billion. Verizon Communications had a net margin of 11.87% and a return on equity of 35.96%. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.86 EPS. On average, analysts forecast that Verizon Communications Inc. will post 4.66 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be given a dividend of $0.6025 per share. This represents a $2.41 dividend on an annualized basis and a yield of 4.13%. The ex-dividend date of this dividend is Tuesday, April 9th. Verizon Communications’s payout ratio is currently 51.17%.

A number of equities research analysts recently commented on the stock. Morgan Stanley lowered shares of Verizon Communications from an “overweight” rating to an “equal weight” rating and set a $58.00 price target for the company. in a report on Wednesday, December 12th. Zacks Investment Research upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a report on Saturday, January 26th. JPMorgan Chase & Co. lowered shares of Verizon Communications from an “overweight” rating to a “neutral” rating and set a $59.89 price target for the company. in a report on Sunday, December 9th. ValuEngine lowered shares of Verizon Communications from a “buy” rating to a “hold” rating in a report on Tuesday, January 29th. Finally, Tigress Financial reiterated a “hold” rating on shares of Verizon Communications in a report on Friday, December 28th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Verizon Communications has an average rating of “Buy” and a consensus price target of $55.76.

In other Verizon Communications news, EVP Craig L. Silliman sold 1,349 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $57.12, for a total transaction of $77,054.88. Following the transaction, the executive vice president now directly owns 25,549 shares of the company’s stock, valued at approximately $1,459,358.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Lowell C. Mcadam sold 285,988 shares of the business’s stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $56.72, for a total transaction of $16,221,239.36. Following the transaction, the director now directly owns 362,932 shares in the company, valued at $20,585,503.04. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by insiders.

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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; 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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