Verizon Communications Inc. (NYSE:VZ) Shares Sold by Benjamin F. Edwards & Company Inc.

Benjamin F. Edwards & Company Inc. cut its stake in Verizon Communications Inc. (NYSE:VZ) by 1.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,007,773 shares of the cell phone carrier’s stock after selling 10,365 shares during the period. Verizon Communications accounts for approximately 0.7% of Benjamin F. Edwards & Company Inc.’s investment portfolio, making the stock its 25th largest holding. Benjamin F. Edwards & Company Inc.’s holdings in Verizon Communications were worth $41,560,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Verizon Communications by 0.3% during the first quarter. Vanguard Group Inc. now owns 351,267,175 shares of the cell phone carrier’s stock valued at $14,739,171,000 after purchasing an additional 1,216,963 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Verizon Communications by 1.5% during the second quarter. Dimensional Fund Advisors LP now owns 35,561,841 shares of the cell phone carrier’s stock valued at $1,466,446,000 after purchasing an additional 535,322 shares during the period. Capital Research Global Investors increased its holdings in shares of Verizon Communications by 92.9% during the fourth quarter. Capital Research Global Investors now owns 22,599,173 shares of the cell phone carrier’s stock valued at $851,989,000 after purchasing an additional 10,882,873 shares during the period. Capital World Investors increased its holdings in shares of Verizon Communications by 127.6% during the fourth quarter. Capital World Investors now owns 21,801,067 shares of the cell phone carrier’s stock valued at $821,900,000 after purchasing an additional 12,220,777 shares during the period. Finally, Raymond James & Associates boosted its stake in Verizon Communications by 0.6% during the second quarter. Raymond James & Associates now owns 16,458,264 shares of the cell phone carrier’s stock valued at $678,739,000 after buying an additional 104,447 shares in the last quarter. 62.06% of the stock is owned by institutional investors and hedge funds.

Verizon Communications Stock Up 0.2 %

VZ opened at $43.95 on Friday. Verizon Communications Inc. has a fifty-two week low of $30.14 and a fifty-two week high of $45.05. The business has a 50-day moving average of $41.40 and a 200-day moving average of $40.75. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.63 and a quick ratio of 0.60. The company has a market capitalization of $185.00 billion, a PE ratio of 16.40, a price-to-earnings-growth ratio of 3.99 and a beta of 0.42.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Monday, July 22nd. The cell phone carrier reported $1.15 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.15. Verizon Communications had a return on equity of 20.10% and a net margin of 8.38%. The company had revenue of $32.80 billion during the quarter, compared to the consensus estimate of $33.05 billion. During the same period last year, the business earned $1.21 EPS. The business’s quarterly revenue was up .6% on a year-over-year basis. Equities research analysts forecast that Verizon Communications Inc. will post 4.58 EPS for the current fiscal year.

Verizon Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be paid a $0.678 dividend. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.17%. This is an increase from Verizon Communications’s previous quarterly dividend of $0.67. The ex-dividend date is Thursday, October 10th. Verizon Communications’s dividend payout ratio (DPR) is presently 101.12%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. KeyCorp decreased their target price on Verizon Communications from $46.00 to $44.00 and set an “overweight” rating for the company in a research note on Friday, September 6th. Scotiabank increased their price target on Verizon Communications from $45.50 to $46.50 and gave the company a “sector perform” rating in a research report on Wednesday, July 10th. JPMorgan Chase & Co. decreased their price target on Verizon Communications from $46.00 to $45.00 and set a “neutral” rating for the company in a research report on Tuesday, July 23rd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $42.00 price target on shares of Verizon Communications in a research report on Monday, September 9th. Finally, The Goldman Sachs Group initiated coverage on Verizon Communications in a research report on Monday, July 1st. They issued a “buy” rating and a $50.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.66.

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).