Verizon Communications Inc. (NYSE:VZ) Holdings Cut by Diversified Trust Co

Diversified Trust Co lowered its holdings in Verizon Communications Inc. (NYSE:VZ) by 62.6% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,919 shares of the cell phone carrier’s stock after selling 31,640 shares during the period. Diversified Trust Co’s holdings in Verizon Communications were worth $794,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Pacifica Partners Inc. increased its position in shares of Verizon Communications by 4.6% during the fourth quarter. Pacifica Partners Inc. now owns 5,800 shares of the cell phone carrier’s stock worth $223,000 after acquiring an additional 255 shares in the last quarter. Private Portfolio Partners LLC grew its position in Verizon Communications by 0.9% in the fourth quarter. Private Portfolio Partners LLC now owns 27,457 shares of the cell phone carrier’s stock valued at $1,035,000 after purchasing an additional 255 shares in the last quarter. Selective Wealth Management Inc. grew its position in Verizon Communications by 2.8% in the fourth quarter. Selective Wealth Management Inc. now owns 9,511 shares of the cell phone carrier’s stock valued at $374,000 after purchasing an additional 257 shares in the last quarter. Horizon Bancorp Inc. IN grew its position in Verizon Communications by 24.9% in the fourth quarter. Horizon Bancorp Inc. IN now owns 1,293 shares of the cell phone carrier’s stock valued at $49,000 after purchasing an additional 258 shares in the last quarter. Finally, Princeton Global Asset Management LLC grew its position in Verizon Communications by 2.4% in the fourth quarter. Princeton Global Asset Management LLC now owns 10,961 shares of the cell phone carrier’s stock valued at $413,000 after purchasing an additional 260 shares in the last quarter. Institutional investors own 62.06% of the company’s stock.

Verizon Communications Price Performance

NYSE:VZ opened at $41.10 on Wednesday. Verizon Communications Inc. has a 52 week low of $30.14 and a 52 week high of $43.42. The firm has a market cap of $173.00 billion, a price-to-earnings ratio of 15.34, a P/E/G ratio of 3.75 and a beta of 0.41. The firm’s 50-day simple moving average is $40.13 and its 200 day simple moving average is $40.09. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.67 and a current ratio of 0.71.

Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Monday, April 22nd. The cell phone carrier reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.03. Verizon Communications had a net margin of 8.44% and a return on equity of 20.41%. The business had revenue of $33 billion for the quarter, compared to analyst estimates of $33.23 billion. During the same period last year, the firm earned $1.20 earnings per share. Verizon Communications’s revenue for the quarter was up .3% compared to the same quarter last year. As a group, sell-side analysts predict that Verizon Communications Inc. will post 4.59 earnings per share for the current year.

Verizon Communications Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be issued a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 6.47%. The ex-dividend date is Wednesday, July 10th. Verizon Communications’s dividend payout ratio is currently 99.25%.

Analyst Ratings Changes

VZ has been the subject of a number of analyst reports. Royal Bank of Canada raised their target price on shares of Verizon Communications from $36.00 to $40.00 and gave the company a “sector perform” rating in a research report on Tuesday, April 2nd. Oppenheimer reiterated an “outperform” rating and issued a $48.00 price target on shares of Verizon Communications in a research note on Tuesday, April 23rd. Redburn Atlantic upgraded shares of Verizon Communications from a “sell” rating to a “neutral” rating and increased their price target for the company from $33.00 to $39.00 in a research note on Friday, March 22nd. StockNews.com upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating in a research note on Saturday, May 4th. Finally, Tigress Financial increased their price target on shares of Verizon Communications from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $45.14.

About Verizon Communications

Verizon Communications Inc, through its subsidiaries, engages in the provision of communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. It operates in two segments, Verizon Consumer Group (Consumer) and Verizon Business Group (Business).