Verizon Communications Inc. (NYSE:VZ) Shares Sold by UNIVEST FINANCIAL Corp

UNIVEST FINANCIAL Corp lessened its position in Verizon Communications Inc. (NYSE:VZ) by 6.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 61,948 shares of the cell phone carrier’s stock after selling 4,172 shares during the period. UNIVEST FINANCIAL Corp’s holdings in Verizon Communications were worth $3,307,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Kanawha Capital Management LLC boosted its stake in shares of Verizon Communications by 0.8% in the 2nd quarter. Kanawha Capital Management LLC now owns 167,032 shares of the cell phone carrier’s stock worth $9,543,000 after buying an additional 1,338 shares during the last quarter. Arjuna Capital boosted its stake in shares of Verizon Communications by 2.6% in the 2nd quarter. Arjuna Capital now owns 42,965 shares of the cell phone carrier’s stock worth $2,455,000 after buying an additional 1,082 shares during the last quarter. Pictet Asset Management Ltd. boosted its stake in shares of Verizon Communications by 8.4% in the 2nd quarter. Pictet Asset Management Ltd. now owns 4,132,673 shares of the cell phone carrier’s stock worth $236,100,000 after buying an additional 319,822 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in shares of Verizon Communications in the 2nd quarter worth $4,247,000. Finally, A.R.T. Advisors LLC purchased a new position in shares of Verizon Communications in the 2nd quarter worth $4,155,000. 65.25% of the stock is owned by institutional investors and hedge funds.

In related news, EVP Craig L. Silliman sold 1,346 shares of Verizon Communications stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $59.55, for a total transaction of $80,154.30. Following the transaction, the executive vice president now directly owns 18,637 shares in the company, valued at $1,109,833.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Craig L. Silliman sold 1,349 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $60.42, for a total value of $81,506.58. Following the completion of the transaction, the executive vice president now owns 19,983 shares in the company, valued at $1,207,372.86. The disclosure for this sale can be found here. 0.03% of the stock is currently owned by insiders.

A number of research firms have recently issued reports on VZ. SunTrust Banks raised their price target on Verizon Communications from $61.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. ValuEngine upgraded Verizon Communications from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. New Street Research restated a “buy” rating on shares of Verizon Communications in a research note on Friday, January 10th. Zacks Investment Research downgraded Verizon Communications from a “buy” rating to a “hold” rating and set a $62.00 target price on the stock. in a research report on Saturday. Finally, HSBC downgraded Verizon Communications from a “buy” rating to a “hold” rating and set a $65.00 target price on the stock. in a research report on Thursday, November 14th. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $63.44.

NYSE VZ opened at $59.04 on Wednesday. The company has a market capitalization of $243.97 billion, a PE ratio of 12.54, a price-to-earnings-growth ratio of 3.71 and a beta of 0.51. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.85 and a current ratio of 0.89. The business’s fifty day moving average is $60.65 and its 200 day moving average is $59.01. Verizon Communications Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $62.22.

Verizon Communications (NYSE:VZ) last released its earnings results on Friday, October 25th. The cell phone carrier reported $1.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.01. The company had revenue of $32.89 billion for the quarter, compared to the consensus estimate of $32.74 billion. Verizon Communications had a return on equity of 34.50% and a net margin of 12.26%. Verizon Communications’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.22 earnings per share. On average, sell-side analysts forecast that Verizon Communications Inc. will post 4.83 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be given a dividend of $0.615 per share. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $2.46 annualized dividend and a yield of 4.17%. Verizon Communications’s dividend payout ratio (DPR) is presently 52.23%.

Verizon Communications Company 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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