First Quadrant L P CA lowered its stake in Verizon Communications Inc. (NYSE:VZ) by 84.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 64,312 shares of the cell phone carrier’s stock after selling 342,321 shares during the period. First Quadrant L P CA’s holdings in Verizon Communications were worth $3,616,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. S. R. Schill & Associates grew its position in Verizon Communications by 2.4% during the fourth quarter. S. R. Schill & Associates now owns 7,625 shares of the cell phone carrier’s stock valued at $429,000 after buying an additional 178 shares during the period. Hengehold Capital Management LLC grew its position in Verizon Communications by 0.4% during the fourth quarter. Hengehold Capital Management LLC now owns 47,560 shares of the cell phone carrier’s stock valued at $2,674,000 after buying an additional 179 shares during the period. Successful Portfolios LLC grew its position in Verizon Communications by 1.5% during the fourth quarter. Successful Portfolios LLC now owns 13,512 shares of the cell phone carrier’s stock valued at $760,000 after buying an additional 200 shares during the period. CKW Financial Group grew its position in Verizon Communications by 2.7% during the fourth quarter. CKW Financial Group now owns 7,637 shares of the cell phone carrier’s stock valued at $429,000 after buying an additional 200 shares during the period. Finally, Farmers Trust Co. grew its position in Verizon Communications by 0.7% during the fourth quarter. Farmers Trust Co. now owns 33,212 shares of the cell phone carrier’s stock valued at $1,867,000 after buying an additional 217 shares during the period. 66.97% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE VZ opened at $58.37 on Tuesday. Verizon Communications Inc. has a 52-week low of $46.08 and a 52-week high of $61.58. The stock has a market capitalization of $240.08 billion, a PE ratio of 12.39, a P/E/G ratio of 2.60 and a beta of 0.51. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 1.94.

Verizon Communications (NYSE:VZ) last announced its earnings results on Tuesday, January 29th. The cell phone carrier reported $1.12 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.09 by $0.03. Verizon Communications had a net margin of 11.87% and a return on equity of 35.96%. The business had revenue of $34.28 billion for the quarter, compared to analyst estimates of $34.45 billion. During the same quarter last year, the business earned $0.86 earnings per share. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. Research analysts predict that Verizon Communications Inc. will post 4.66 earnings per share for the current fiscal year.

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

Several analysts recently commented on the stock. Zacks Investment Research upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a research report on Saturday, January 26th. Tigress Financial restated a “hold” rating on shares of Verizon Communications in a research report on Friday, December 28th. Finally, ValuEngine lowered shares of Verizon Communications from a “buy” rating to a “hold” rating in a research report on Tuesday, January 29th. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $56.07.

In other news, Director Lowell C. Mcadam sold 285,988 shares of the firm’s stock in a transaction dated Tuesday, February 26th. The shares were sold at an average price of $56.72, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Craig L. Silliman sold 1,349 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The stock was 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 in the company, valued at $1,774,387.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 288,686 shares of company stock worth $16,379,639. Company insiders own 0.03% of the company’s stock.

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Verizon Communications 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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