Verizon Communications Inc. (NYSE:VZ) Shares Sold by Waldron Private Wealth LLC

Waldron Private Wealth LLC trimmed its position in Verizon Communications Inc. (NYSE:VZ) by 4.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,212 shares of the cell phone carrier’s stock after selling 1,936 shares during the quarter. Waldron Private Wealth LLC’s holdings in Verizon Communications were worth $2,354,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Merriman Wealth Management LLC lifted its holdings in shares of Verizon Communications by 5.0% in the 2nd quarter. Merriman Wealth Management LLC now owns 17,311 shares of the cell phone carrier’s stock worth $981,000 after acquiring an additional 827 shares during the last quarter. CIBC Private Wealth Group LLC lifted its holdings in shares of Verizon Communications by 0.5% in the 2nd quarter. CIBC Private Wealth Group LLC now owns 502,837 shares of the cell phone carrier’s stock worth $28,728,000 after acquiring an additional 2,675 shares during the last quarter. Cibc Bank USA lifted its holdings in shares of Verizon Communications by 16.4% in the 2nd quarter. Cibc Bank USA now owns 24,524 shares of the cell phone carrier’s stock worth $1,400,000 after acquiring an additional 3,452 shares during the last quarter. Sequent Asset Management LLC lifted its holdings in shares of Verizon Communications by 4.9% in the 2nd quarter. Sequent Asset Management LLC now owns 12,714 shares of the cell phone carrier’s stock worth $726,000 after acquiring an additional 590 shares during the last quarter. Finally, Cape ANN Savings Bank lifted its holdings in shares of Verizon Communications by 12.4% in the 2nd quarter. Cape ANN Savings Bank now owns 9,906 shares of the cell phone carrier’s stock worth $566,000 after acquiring an additional 1,095 shares during the last quarter. Institutional investors own 65.76% of the company’s stock.

In other Verizon Communications news, EVP Craig L. Silliman sold 1,349 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $59.20, for a total value of $79,860.80. Following the sale, the executive vice president now directly owns 26,728 shares of the company’s stock, valued at approximately $1,582,297.60. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last ninety days, insiders have sold 4,047 shares of company stock worth $234,591. 0.03% of the stock is owned by insiders.



VZ traded up $0.35 during trading hours on Friday, hitting $56.65. 11,810,700 shares of the company’s stock were exchanged, compared to its average volume of 13,933,707. Verizon Communications Inc. has a 12-month low of $52.28 and a 12-month high of $61.58. The firm has a 50 day moving average of $56.61 and a 200 day moving average of $57.09. The firm has a market cap of $232.84 billion, a P/E ratio of 12.03, a price-to-earnings-growth ratio of 2.75 and a beta of 0.53. The company has a current ratio of 0.87, a quick ratio of 0.84 and a debt-to-equity ratio of 2.12.

Verizon Communications (NYSE:VZ) last announced its earnings results on Thursday, August 1st. The cell phone carrier reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.03. Verizon Communications had a net margin of 12.08% and a return on equity of 34.91%. The firm had revenue of $32.07 billion for the quarter, compared to the consensus estimate of $32.42 billion. During the same period in the prior year, the firm earned $1.20 EPS. The firm’s revenue for the quarter was down .4% on a year-over-year basis. As a group, research analysts expect that Verizon Communications Inc. will post 4.8 EPS for the current fiscal year.

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

Several equities analysts have recently commented on VZ shares. UBS Group lowered shares of Verizon Communications from a “buy” rating to a “neutral” rating and set a $57.70 price objective on the stock. in a report on Thursday, May 30th. They noted that the move was a valuation call. Bank of America set a $64.00 target price on shares of Verizon Communications and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Royal Bank of Canada reaffirmed a “neutral” rating and set a $57.00 target price on shares of Verizon Communications in a research note on Tuesday, April 23rd. Goldman Sachs Group reaffirmed a “buy” rating and set a $65.00 target price on shares of Verizon Communications in a research note on Tuesday, April 23rd. Finally, Citigroup downgraded shares of Verizon Communications from a “buy” rating to a “neutral” rating and set a $62.00 target price on the stock. in a research note on Monday, July 8th. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $59.33.

Verizon Communications 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.

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

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