Verizon Communications Inc. (NYSE:VZ) Shares Sold by Bank of New Hampshire

Bank of New Hampshire lessened its position in shares of Verizon Communications Inc. (NYSE:VZ) by 6.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,797 shares of the cell phone carrier’s stock after selling 1,581 shares during the period. Bank of New Hampshire’s holdings in Verizon Communications were worth $1,069,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Foresight Capital Management Advisors Inc. grew its holdings in Verizon Communications by 157.3% during the 3rd quarter. Foresight Capital Management Advisors Inc. now owns 52,806 shares of the cell phone carrier’s stock worth $2,372,000 after acquiring an additional 32,281 shares in the last quarter. Cohen Investment Advisors LLC grew its holdings in Verizon Communications by 17.9% during the 3rd quarter. Cohen Investment Advisors LLC now owns 60,289 shares of the cell phone carrier’s stock worth $2,708,000 after acquiring an additional 9,171 shares in the last quarter. Foster Group Inc. acquired a new position in Verizon Communications during the 3rd quarter worth approximately $201,000. Prentice Wealth Management LLC lifted its position in shares of Verizon Communications by 5.0% during the 3rd quarter. Prentice Wealth Management LLC now owns 12,933 shares of the cell phone carrier’s stock worth $581,000 after buying an additional 613 shares during the last quarter. Finally, Value Partners Investments Inc. lifted its position in shares of Verizon Communications by 20.6% during the 3rd quarter. Value Partners Investments Inc. now owns 117,080 shares of the cell phone carrier’s stock worth $5,258,000 after buying an additional 20,000 shares during the last quarter. Institutional investors and hedge funds own 62.06% of the company’s stock.

Verizon Communications Stock Performance

VZ traded down $0.31 during trading on Monday, hitting $43.87. The stock had a trading volume of 12,879,740 shares, compared to its average volume of 18,731,660. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.60 and a current ratio of 0.63. The firm has a market capitalization of $184.66 billion, a P/E ratio of 16.36, a PEG ratio of 4.03 and a beta of 0.42. The company’s 50-day moving average price is $42.28 and its 200 day moving average price is $41.13. Verizon Communications Inc. has a twelve month low of $30.62 and a twelve month high of $45.36.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Monday, July 22nd. The cell phone carrier reported $1.15 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.15. The company had revenue of $32.80 billion for the quarter, compared to analysts’ expectations of $33.05 billion. Verizon Communications had a net margin of 8.38% and a return on equity of 20.10%. Verizon Communications’s revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.21 EPS. On average, 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 declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be paid a dividend of $0.678 per share. The ex-dividend date is Thursday, October 10th. This is a boost from Verizon Communications’s previous quarterly dividend of $0.67. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.18%. Verizon Communications’s dividend payout ratio is 101.12%.

Analyst Ratings Changes

VZ has been the subject of several recent analyst reports. Bank of America boosted their price objective on shares of Verizon Communications from $41.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Raymond James boosted their price objective on shares of Verizon Communications from $44.00 to $48.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 24th. JPMorgan Chase & Co. reduced their price objective on shares of Verizon Communications from $46.00 to $45.00 and set a “neutral” rating for the company in a research report on Tuesday, July 23rd. The Goldman Sachs Group initiated coverage on shares of Verizon Communications in a research report on Monday, July 1st. They set a “buy” rating and a $50.00 price objective for the company. Finally, Scotiabank boosted their price objective on shares of Verizon Communications from $45.50 to $46.50 and gave the stock a “sector perform” rating in a research report on Wednesday, July 10th. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Verizon Communications currently has an average rating of “Moderate Buy” and an average price target of $46.26.

Verizon Communications Profile

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).