Brown Advisory Inc. trimmed its position in shares of Verizon Communications (NYSE:VZ) by 4.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 322,214 shares of the cell phone carrier’s stock after selling 16,210 shares during the quarter. Brown Advisory Inc.’s holdings in Verizon Communications were worth $17,055,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Boston Partners raised its position in Verizon Communications by 1,252.0% in the fourth quarter. Boston Partners now owns 7,986,475 shares of the cell phone carrier’s stock worth $422,724,000 after purchasing an additional 7,395,776 shares in the last quarter. Bank of New York Mellon Corp raised its position in Verizon Communications by 14.1% in the fourth quarter. Bank of New York Mellon Corp now owns 48,749,993 shares of the cell phone carrier’s stock worth $2,580,337,000 after purchasing an additional 6,007,544 shares in the last quarter. Stifel Financial Corp raised its position in Verizon Communications by 7,639.8% in the third quarter. Stifel Financial Corp now owns 3,877,541 shares of the cell phone carrier’s stock worth $191,847,000 after purchasing an additional 3,827,442 shares in the last quarter. BlackRock Inc. raised its position in Verizon Communications by 0.8% in the fourth quarter. BlackRock Inc. now owns 265,904,768 shares of the cell phone carrier’s stock worth $14,074,340,000 after purchasing an additional 2,236,290 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in Verizon Communications by 10.1% in the third quarter. Ameriprise Financial Inc. now owns 17,579,829 shares of the cell phone carrier’s stock worth $870,808,000 after purchasing an additional 1,606,984 shares in the last quarter. Institutional investors own 64.10% of the company’s stock.

Verizon Communications opened at $47.86 on Thursday, according to Marketbeat.com. The company has a market cap of $200.16 billion, a PE ratio of 12.80, a PEG ratio of 1.94 and a beta of 0.62. The company has a debt-to-equity ratio of 2.15, a current ratio of 0.98 and a quick ratio of 0.94. Verizon Communications has a 1-year low of $47.65 and a 1-year high of $48.02.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Tuesday, April 24th. The cell phone carrier reported $1.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.06. The company had revenue of $31.77 billion during the quarter, compared to analyst estimates of $31.25 billion. Verizon Communications had a net margin of 24.37% and a return on equity of 42.62%. The company’s revenue was up 6.6% on a year-over-year basis. During the same quarter last year, the business posted $0.95 earnings per share. equities analysts predict that Verizon Communications will post 4.57 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 1st. Investors of record on Tuesday, April 10th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.93%. The ex-dividend date was Monday, April 9th. Verizon Communications’s dividend payout ratio is currently 63.10%.

Several research analysts recently issued reports on the stock. Bank of America increased their price target on shares of Verizon Communications from $55.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. UBS raised shares of Verizon Communications from a “neutral” rating to a “buy” rating in a research report on Wednesday, April 25th. Vetr raised shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $54.80 price target for the company in a research report on Monday, February 5th. Howard Weil raised shares of Verizon Communications from a “sector perform” rating to a “sector outperform” rating in a research report on Monday, January 22nd. Finally, Guggenheim assumed coverage on shares of Verizon Communications in a research report on Tuesday, March 13th. They issued a “buy” rating and a $58.00 price target for the company. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and sixteen have assigned a buy rating to the company. Verizon Communications has an average rating of “Buy” and a consensus target price of $54.75.

In related news, SVP Anthony T. Skiadas sold 1,974 shares of the firm’s stock in a transaction that occurred on Tuesday, May 1st. The shares were sold at an average price of $49.44, for a total value of $97,594.56. Following the completion of the sale, the senior vice president now owns 16,060 shares of the company’s stock, valued at $794,006.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.09% of the company’s stock.

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; multimedia, business-focused, and location-based services, as well as international travel services; and network access services to deliver various Internet of Things products and services.

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

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