Verizon Communications Inc. (VZ) Shares Bought by Harrington Investments INC

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Harrington Investments INC lifted its stake in Verizon Communications Inc. (NYSE:VZ) by 4.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 20,956 shares of the cell phone carrier’s stock after purchasing an additional 972 shares during the quarter. Harrington Investments INC’s holdings in Verizon Communications were worth $1,178,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. HC Financial Advisors Inc. lifted its stake in shares of Verizon Communications by 51.6% in the 3rd quarter. HC Financial Advisors Inc. now owns 43,302 shares of the cell phone carrier’s stock valued at $2,312,000 after purchasing an additional 14,739 shares during the period. FCG Advisors LLC lifted its stake in shares of Verizon Communications by 8.1% in the 3rd quarter. FCG Advisors LLC now owns 18,161 shares of the cell phone carrier’s stock valued at $970,000 after purchasing an additional 1,365 shares during the period. Daiwa Securities Group Inc. lifted its stake in shares of Verizon Communications by 7.3% in the 3rd quarter. Daiwa Securities Group Inc. now owns 171,517 shares of the cell phone carrier’s stock valued at $9,157,000 after purchasing an additional 11,676 shares during the period. Ashfield Capital Partners LLC lifted its stake in shares of Verizon Communications by 2.4% in the 3rd quarter. Ashfield Capital Partners LLC now owns 41,437 shares of the cell phone carrier’s stock valued at $2,212,000 after purchasing an additional 979 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of Verizon Communications by 54.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 56,985 shares of the cell phone carrier’s stock valued at $3,271,000 after purchasing an additional 20,188 shares during the period. 67.12% of the stock is owned by hedge funds and other institutional investors.

In other Verizon Communications news, EVP Craig L. Silliman sold 1,349 shares of Verizon Communications stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $57.12, for a total value of $77,054.88. Following the sale, the executive vice president now owns 25,549 shares of the company’s stock, valued at approximately $1,459,358.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lowell C. Mcadam sold 285,988 shares of Verizon Communications 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 completion of the sale, the director now directly owns 362,932 shares in the company, valued at approximately $20,585,503.04. The disclosure for this sale can be found here. Insiders have sold a total of 296,169 shares of company stock worth $16,805,577 in the last ninety days. 0.03% of the stock is currently owned by company insiders.

VZ has been the topic of a number of analyst reports. Zacks Investment Research raised Verizon Communications from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a research note on Saturday, January 26th. ValuEngine downgraded Verizon Communications from a “buy” rating to a “hold” rating in a research note on Tuesday, January 29th. Goldman Sachs Group reissued a “buy” rating and issued a $65.00 price target on shares of Verizon Communications in a research note on Tuesday, April 23rd. Bank of America set a $64.00 price objective on Verizon Communications and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Finally, Royal Bank of Canada reaffirmed a “neutral” rating and set a $57.00 price objective on shares of Verizon Communications in a research note on Tuesday, April 23rd. Ten equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $57.76.

Shares of Verizon Communications stock opened at $59.50 on Wednesday. The firm has a market cap of $243.22 billion, a P/E ratio of 12.63, a price-to-earnings-growth ratio of 3.03 and a beta of 0.48. Verizon Communications Inc. has a 12 month low of $47.13 and a 12 month high of $61.58. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.83 and a current ratio of 0.87.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Tuesday, April 23rd. The cell phone carrier reported $1.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.17 by $0.03. The business had revenue of $32.13 billion for the quarter, compared to the consensus estimate of $32.13 billion. Verizon Communications had a return on equity of 35.40% and a net margin of 12.20%. The firm’s revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.17 EPS. On average, analysts expect that Verizon Communications Inc. will post 4.75 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th were paid a dividend of $0.6025 per share. This represents a $2.41 annualized dividend and a yield of 4.05%. The ex-dividend date of this dividend was Tuesday, April 9th. 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; 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.

Further Reading: Average Daily Trade Volume – What You Need to Know

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

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