Appleton Partners Inc. MA Has $5.58 Million Stock Position in Verizon Communications Inc. (NYSE:VZ)

Appleton Partners Inc. MA lowered its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 1.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 103,254 shares of the cell phone carrier’s stock after selling 1,311 shares during the quarter. Appleton Partners Inc. MA’s holdings in Verizon Communications were worth $5,577,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. C M Bidwell & Associates Ltd. raised its holdings in shares of Verizon Communications by 8.6% during the second quarter. C M Bidwell & Associates Ltd. now owns 2,285 shares of the cell phone carrier’s stock valued at $128,000 after purchasing an additional 180 shares during the period. Weather Gauge Advisory LLC raised its holdings in shares of Verizon Communications by 1.3% in the 2nd quarter. Weather Gauge Advisory LLC now owns 13,959 shares of the cell phone carrier’s stock worth $782,000 after acquiring an additional 181 shares during the last quarter. Thoroughbred Financial Services LLC raised its holdings in shares of Verizon Communications by 1.0% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 18,330 shares of the cell phone carrier’s stock worth $1,027,000 after acquiring an additional 182 shares during the last quarter. Bank of Nova Scotia Trust Co. raised its holdings in shares of Verizon Communications by 3.1% in the 2nd quarter. Bank of Nova Scotia Trust Co. now owns 6,372 shares of the cell phone carrier’s stock worth $357,000 after acquiring an additional 193 shares during the last quarter. Finally, Sigma Investment Counselors Inc. raised its holdings in shares of Verizon Communications by 3.6% in the 2nd quarter. Sigma Investment Counselors Inc. now owns 5,650 shares of the cell phone carrier’s stock worth $317,000 after acquiring an additional 194 shares during the last quarter. Hedge funds and other institutional investors own 63.61% of the company’s stock.

NYSE VZ traded down $0.09 on Thursday, hitting $51.66. The stock had a trading volume of 15,474,541 shares, compared to its average volume of 17,699,629. Verizon Communications Inc. has a 52-week low of $50.65 and a 52-week high of $61.95. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.92 and a current ratio of 0.97. The company has a market capitalization of $213.88 billion, a price-to-earnings ratio of 9.69, a price-to-earnings-growth ratio of 3.06 and a beta of 0.43. The firm has a 50-day moving average of $52.94 and a 200-day moving average of $55.02.

Verizon Communications (NYSE:VZ) last posted its earnings results on Tuesday, October 19th. The cell phone carrier reported $1.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.36 by $0.05. Verizon Communications had a net margin of 16.42% and a return on equity of 29.72%. The business had revenue of $32.90 billion for the quarter, compared to analysts’ expectations of $33.24 billion. During the same period in the prior year, the company posted $1.25 EPS. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, research analysts anticipate that Verizon Communications Inc. will post 5.37 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, November 1st. Shareholders of record on Friday, October 8th were paid a $0.64 dividend. The ex-dividend date was Thursday, October 7th. This is a boost from Verizon Communications’s previous quarterly dividend of $0.63. This represents a $2.56 annualized dividend and a yield of 4.96%. Verizon Communications’s dividend payout ratio is currently 48.03%.

In other Verizon Communications news, EVP Craig L. Silliman sold 1,554 shares of the stock in a transaction that occurred on Thursday, November 4th. The shares were sold at an average price of $52.91, for a total value of $82,222.14. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold a total of 4,662 shares of company stock worth $252,898 over the last quarter. Corporate insiders own 0.10% of the company’s stock.

VZ has been the topic of a number of analyst reports. Raymond James restated a “buy” rating and issued a $64.00 target price on shares of Verizon Communications in a report on Tuesday, September 28th. Loop Capital assumed coverage on shares of Verizon Communications in a research report on Monday, September 20th. They set a “hold” rating and a $57.00 target price for the company. Cowen increased their target price on shares of Verizon Communications from $68.00 to $71.00 and gave the company an “outperform” rating in a research report on Thursday, October 21st. Barclays reduced their target price on shares of Verizon Communications from $56.00 to $55.00 and set an “equal weight” rating for the company in a research report on Monday, October 11th. Finally, Wells Fargo & Company reduced their target price on shares of Verizon Communications from $58.00 to $56.00 and set an “equal weight” rating for the company in a research report on Thursday, October 21st. One research analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Verizon Communications presently has an average rating of “Hold” and an average target price of $60.00.

Verizon Communications Company Profile

Verizon Communications, Inc is a holding company, which engages in the provision of communications, information, and entertainment products and services to consumers, businesses, and governmental agencies. It operates through the Verizon Consumer Group (Consumer) and Verizon Business Group (Business) segments.

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

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