McIlrath & Eck LLC Has $145,000 Holdings in Verizon Communications Inc. (NYSE:VZ)

McIlrath & Eck LLC cut its holdings in Verizon Communications Inc. (NYSE:VZ) by 20.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,399 shares of the cell phone carrier’s stock after selling 633 shares during the period. McIlrath & Eck LLC’s holdings in Verizon Communications were worth $145,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Financial Gravity Wealth Inc. lifted its holdings in shares of Verizon Communications by 4.5% in the third quarter. Financial Gravity Wealth Inc. now owns 3,942 shares of the cell phone carrier’s stock worth $238,000 after acquiring an additional 169 shares during the last quarter. Albert D Mason Inc. lifted its holdings in shares of Verizon Communications by 0.7% in the third quarter. Albert D Mason Inc. now owns 23,439 shares of the cell phone carrier’s stock worth $1,415,000 after acquiring an additional 170 shares during the last quarter. SMH Capital Advisors Inc. lifted its holdings in shares of Verizon Communications by 4.6% in the third quarter. SMH Capital Advisors Inc. now owns 3,919 shares of the cell phone carrier’s stock worth $237,000 after acquiring an additional 172 shares during the last quarter. Nadler Financial Group Inc. lifted its holdings in shares of Verizon Communications by 1.2% in the third quarter. Nadler Financial Group Inc. now owns 15,114 shares of the cell phone carrier’s stock worth $912,000 after acquiring an additional 174 shares during the last quarter. Finally, Advocacy Wealth Management Services LLC lifted its holdings in shares of Verizon Communications by 35.8% in the third quarter. Advocacy Wealth Management Services LLC now owns 687 shares of the cell phone carrier’s stock worth $41,000 after acquiring an additional 181 shares during the last quarter. Institutional investors and hedge funds own 65.55% of the company’s stock.

NYSE VZ traded down $1.18 during trading hours on Friday, reaching $59.35. The company’s stock had a trading volume of 17,467,367 shares, compared to its average volume of 13,203,746. The firm has a fifty day simple moving average of $60.20 and a 200-day simple moving average of $58.02. The stock has a market cap of $246.08 billion, a P/E ratio of 12.60, a P/E/G ratio of 2.97 and a beta of 0.53. Verizon Communications Inc. has a 52 week low of $52.28 and a 52 week high of $61.58. The company has a debt-to-equity ratio of 1.99, a current ratio of 0.89 and a quick ratio of 0.85.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Friday, October 25th. The cell phone carrier reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.01. The business had revenue of $32.89 billion during the quarter, compared to analyst estimates of $32.74 billion. Verizon Communications had a net margin of 12.26% and a return on equity of 34.50%. The firm’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter last year, the business earned $1.22 EPS. On average, research analysts expect that Verizon Communications Inc. will post 4.83 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were issued a $0.615 dividend. This represents a $2.46 dividend on an annualized basis and a yield of 4.14%. The ex-dividend date was Wednesday, October 9th. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.60. Verizon Communications’s dividend payout ratio (DPR) is 52.23%.

In other Verizon Communications news, CEO Tami A. Erwin sold 17,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $57.75, for a total transaction of $981,750.00. Following the completion of the transaction, the chief executive officer now owns 853 shares in the company, valued at approximately $49,260.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Craig L. Silliman sold 1,349 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $60.42, for a total transaction of $81,506.58. Following the transaction, the executive vice president now owns 19,983 shares of the company’s stock, valued at approximately $1,207,372.86. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,047 shares of company stock valued at $1,219,943. 0.03% of the stock is owned by company insiders.

A number of research analysts have recently commented on the stock. SunTrust Banks increased their target price on shares of Verizon Communications from $61.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Nomura cut shares of Verizon Communications from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $67.00 to $65.00 in a report on Monday, November 4th. ValuEngine raised shares of Verizon Communications from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Oppenheimer raised shares of Verizon Communications from a “market perform” rating to an “outperform” rating and set a $70.00 target price for the company in a report on Tuesday, August 27th. Finally, Citigroup set a $62.00 target price on shares of Verizon Communications and gave the stock a “hold” rating in a report on Tuesday, September 10th. Ten research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $62.69.

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; 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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