Verizon Communications Inc. (VZ) Stake Decreased by Cobblestone Capital Advisors LLC NY

Cobblestone Capital Advisors LLC NY decreased its holdings in Verizon Communications Inc. (NYSE:VZ) by 1.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,131 shares of the cell phone carrier’s stock after selling 250 shares during the period. Cobblestone Capital Advisors LLC NY’s holdings in Verizon Communications were worth $907,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Verizon Communications by 1.3% in the third quarter. Vanguard Group Inc. now owns 303,821,942 shares of the cell phone carrier’s stock worth $16,221,053,000 after buying an additional 3,957,224 shares in the last quarter. Vanguard Group Inc raised its position in Verizon Communications by 1.3% during the third quarter. Vanguard Group Inc now owns 303,821,942 shares of the cell phone carrier’s stock valued at $16,221,053,000 after purchasing an additional 3,957,224 shares during the period. BlackRock Inc. raised its position in Verizon Communications by 2.3% during the third quarter. BlackRock Inc. now owns 276,264,842 shares of the cell phone carrier’s stock valued at $14,749,779,000 after purchasing an additional 6,117,952 shares during the period. Capital World Investors raised its position in Verizon Communications by 9.9% during the third quarter. Capital World Investors now owns 71,733,981 shares of the cell phone carrier’s stock valued at $3,829,877,000 after purchasing an additional 6,485,041 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Verizon Communications by 12,167,820.7% during the third quarter. Bank of New York Mellon Corp now owns 55,242,360 shares of the cell phone carrier’s stock valued at $2,949,390,000 after purchasing an additional 55,241,906 shares during the period. 67.04% of the stock is owned by hedge funds and other institutional investors.

In related news, SVP Anthony T. Skiadas sold 6,134 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $57.11, for a total value of $350,312.74. Following the transaction, the senior vice president now owns 20,000 shares of the company’s stock, valued at $1,142,200. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Craig L. Silliman sold 1,349 shares of the stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $60.30, for a total value of $81,344.70. Following the completion of the transaction, the executive vice president now directly owns 29,426 shares in the company, valued at approximately $1,774,387.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 296,169 shares of company stock worth $16,805,577. Insiders own 0.03% of the company’s stock.



VZ has been the topic of a number of recent research reports. Zacks Investment Research upgraded Verizon Communications from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a research report on Saturday, January 26th. Bank of America set a $64.00 price objective on Verizon Communications and gave the company a “buy” rating in a research report on Tuesday, April 23rd. Goldman Sachs Group restated a “buy” rating and set a $65.00 price objective on shares of Verizon Communications in a research report on Tuesday, April 23rd. ValuEngine downgraded Verizon Communications from a “buy” rating to a “hold” rating in a research report on Tuesday, January 29th. Finally, Royal Bank of Canada restated a “neutral” rating and set a $57.00 price objective on shares of Verizon Communications in a research report on Tuesday, April 23rd. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $57.76.

VZ opened at $56.75 on Tuesday. The company has a market cap of $234.92 billion, a PE ratio of 12.05, a price-to-earnings-growth ratio of 2.94 and a beta of 0.48. Verizon Communications Inc. has a one year low of $47.13 and a one year high of $61.58. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.83.

Verizon Communications (NYSE:VZ) last released its earnings results on Tuesday, April 23rd. The cell phone carrier reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.03. The firm had revenue of $32.13 billion for the quarter, compared to analysts’ expectations of $32.13 billion. Verizon Communications had a return on equity of 35.40% and a net margin of 12.20%. The company’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.17 earnings per share. As a group, equities research analysts predict that Verizon Communications Inc. will post 4.75 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th were paid a dividend of $0.6025 per share. The ex-dividend date was Tuesday, April 9th. This represents a $2.41 dividend on an annualized basis and a dividend yield of 4.25%. Verizon Communications’s dividend payout ratio is 51.17%.

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Verizon Communications Company Profile

Verizon Communications, Inc is a holding company, which engages in the provision communications, information and entertainment products and services to consumers, businesses and governmental agencies. It operates through Wireless and Wireline segments. The Wireless segment provides wireless voice and data services and equipment sales, which are provided to consumer, business, and government customers.

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

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