Verizon Communications Inc. (VZ) Position Trimmed by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS decreased its position in shares of Verizon Communications Inc. (NYSE:VZ) by 21.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 339,071 shares of the cell phone carrier’s stock after selling 93,463 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Verizon Communications were worth $18,103,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in VZ. Wade G W & Inc. increased its holdings in Verizon Communications by 2.0% during the third quarter. Wade G W & Inc. now owns 45,899 shares of the cell phone carrier’s stock worth $2,451,000 after buying an additional 888 shares during the last quarter. AlphaMark Advisors LLC increased its holdings in Verizon Communications by 1.3% during the third quarter. AlphaMark Advisors LLC now owns 69,929 shares of the cell phone carrier’s stock worth $3,734,000 after buying an additional 889 shares during the last quarter. Independence Advisors LLC increased its holdings in Verizon Communications by 21.0% during the third quarter. Independence Advisors LLC now owns 5,180 shares of the cell phone carrier’s stock worth $277,000 after buying an additional 898 shares during the last quarter. Neville Rodie & Shaw Inc. increased its holdings in Verizon Communications by 1.2% during the third quarter. Neville Rodie & Shaw Inc. now owns 77,364 shares of the cell phone carrier’s stock worth $4,130,000 after buying an additional 915 shares during the last quarter. Finally, Gilbert & Cook Inc. increased its holdings in Verizon Communications by 17.1% during the third quarter. Gilbert & Cook Inc. now owns 6,343 shares of the cell phone carrier’s stock worth $339,000 after buying an additional 928 shares during the last quarter. 66.14% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages recently weighed in on VZ. ValuEngine upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating in a report on Wednesday, October 24th. Morgan Stanley boosted their target price on shares of Verizon Communications from $56.00 to $58.00 and gave the stock an “overweight” rating in a report on Monday, October 29th. Barclays lifted their price objective on shares of Verizon Communications from $50.00 to $53.00 and gave the stock a “hold” rating in a research report on Wednesday, October 24th. JPMorgan Chase & Co. cut shares of Verizon Communications from an “overweight” rating to a “neutral” rating and set a $59.89 price objective for the company. in a research report on Sunday, December 9th. Finally, 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 report on Saturday, January 26th. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $55.90.

VZ stock opened at $54.05 on Tuesday. 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 Inc. has a one year low of $46.08 and a one year high of $61.58. The firm has a market cap of $222.70 billion, a price-to-earnings ratio of 11.48, a P/E/G ratio of 2.85 and a beta of 0.48.

Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Tuesday, January 29th. The cell phone carrier reported $1.12 EPS for the quarter, topping the Zacks’ 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 firm had revenue of $34.28 billion during the quarter, compared to analysts’ expectations of $34.45 billion. During the same period in the previous year, the business posted $0.86 earnings per share. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Verizon Communications Inc. will post 4.66 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, February 1st. Stockholders of record on Thursday, January 10th were given a $0.6025 dividend. The ex-dividend date of this dividend was Wednesday, January 9th. This represents a $2.41 dividend on an annualized basis and a dividend yield of 4.46%. Verizon Communications’s payout ratio is presently 51.17%.

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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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