Creative Financial Designs Inc. ADV decreased its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 39.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 581 shares of the cell phone carrier’s stock after selling 384 shares during the period. Creative Financial Designs Inc. ADV’s holdings in Verizon Communications were worth $33,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Verizon Communications by 1.3% in the third quarter. Vanguard Group Inc. now owns 303,821,942 shares of the cell phone carrier’s stock worth $16,221,053,000 after purchasing an additional 3,957,224 shares in the last quarter. Vanguard Group Inc increased its stake in shares of Verizon Communications by 1.3% in the third quarter. Vanguard Group Inc now owns 303,821,942 shares of the cell phone carrier’s stock worth $16,221,053,000 after purchasing an additional 3,957,224 shares in the last quarter. BlackRock Inc. increased its stake in shares of Verizon Communications by 2.3% in the third quarter. BlackRock Inc. now owns 276,264,842 shares of the cell phone carrier’s stock worth $14,749,779,000 after purchasing an additional 6,117,952 shares in the last quarter. Capital World Investors increased its stake in shares of Verizon Communications by 9.9% in the third quarter. Capital World Investors now owns 71,733,981 shares of the cell phone carrier’s stock worth $3,829,877,000 after purchasing an additional 6,485,041 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Verizon Communications by 12,167,820.7% in the third quarter. Bank of New York Mellon Corp now owns 55,242,360 shares of the cell phone carrier’s stock worth $2,949,390,000 after purchasing an additional 55,241,906 shares in the last quarter. Institutional investors and hedge funds own 66.97% of the company’s stock.

In related news, EVP Craig L. Silliman sold 1,349 shares of the firm’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $60.30, for a total transaction of $81,344.70. Following the completion of the transaction, the executive vice president now directly owns 29,426 shares of the company’s stock, valued at $1,774,387.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lowell C. Mcadam sold 285,988 shares of the firm’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 of the company’s stock, valued at $20,585,503.04. The disclosure for this sale can be found here. Insiders have sold 288,686 shares of company stock valued at $16,379,639 over the last ninety days. 0.03% of the stock is currently owned by corporate insiders.

VZ opened at $57.15 on Wednesday. The firm has a market cap of $240.08 billion, a P/E ratio of 12.13, a P/E/G ratio of 2.60 and a beta of 0.51. Verizon Communications Inc. has a fifty-two week low of $46.08 and a fifty-two week high of $61.58. The company has a debt-to-equity ratio of 1.94, a current ratio of 0.91 and a quick ratio of 0.88.

Verizon Communications (NYSE:VZ) last posted its earnings results on Tuesday, April 23rd. The cell phone carrier reported $1.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.03. The company had revenue of $32.13 billion during the quarter, compared to analysts’ expectations of $32.13 billion. Verizon Communications had a net margin of 11.87% and a return on equity of 35.96%. Verizon Communications’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period last year, the company posted $1.17 earnings per share. As a group, research analysts predict that Verizon Communications Inc. will post 4.66 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be paid a dividend of $0.6025 per share. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $2.41 annualized dividend and a yield of 4.22%. Verizon Communications’s payout ratio is 51.17%.

VZ has been the subject of a number of analyst reports. Tigress Financial reissued a “hold” rating on shares of Verizon Communications in a research note on Friday, December 28th. Zacks Investment Research raised shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a research note on Saturday, January 26th. ValuEngine cut shares of Verizon Communications from a “buy” rating to a “hold” rating in a research note on Tuesday, January 29th. Goldman Sachs Group set a $65.00 price objective on shares of Verizon Communications and gave the stock a “buy” rating in a research note on Tuesday. Finally, Bank of America set a $64.00 price objective on shares of Verizon Communications and gave the stock a “buy” rating in a research note on Tuesday. Ten analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Verizon Communications presently has an average rating of “Hold” and an average target price of $57.21.

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Verizon Communications Company Profile

Verizon Communications, Inc is a holding company, which engages in the provision communications, information and entertainment products and services to consumers, businesses and governmental agencies. It operates through Wireless and Wireline segments. The Wireless segment provides wireless voice and data services and equipment sales, which are provided to consumer, business, and government customers.

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

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