Wealthfront Advisers LLC Increases Holdings in Verizon Communications Inc. (NYSE:VZ)

Wealthfront Advisers LLC boosted its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 8.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 188,987 shares of the cell phone carrier’s stock after buying an additional 14,274 shares during the period. Wealthfront Advisers LLC’s holdings in Verizon Communications were worth $11,407,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. SeaCrest Wealth Management LLC boosted its stake in Verizon Communications by 5.4% during the third quarter. SeaCrest Wealth Management LLC now owns 121,810 shares of the cell phone carrier’s stock valued at $7,352,000 after buying an additional 6,207 shares during the period. Sterling Investment Advisors Ltd. boosted its stake in Verizon Communications by 5.3% during the third quarter. Sterling Investment Advisors Ltd. now owns 82,392 shares of the cell phone carrier’s stock valued at $4,973,000 after buying an additional 4,183 shares during the period. NewSquare Capital LLC boosted its stake in Verizon Communications by 2.7% during the third quarter. NewSquare Capital LLC now owns 42,592 shares of the cell phone carrier’s stock valued at $2,571,000 after buying an additional 1,130 shares during the period. City Holding Co. boosted its stake in Verizon Communications by 5.8% during the third quarter. City Holding Co. now owns 88,483 shares of the cell phone carrier’s stock valued at $5,341,000 after buying an additional 4,837 shares during the period. Finally, Mountain Pacific Investment Advisers Inc. ID boosted its stake in Verizon Communications by 10.7% during the third quarter. Mountain Pacific Investment Advisers Inc. ID now owns 15,498 shares of the cell phone carrier’s stock valued at $935,000 after buying an additional 1,500 shares during the period. 65.44% of the stock is owned by institutional investors.

In other news, EVP Craig L. Silliman sold 1,349 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $56.01, for a total value of $75,557.49. Following the completion of the sale, the executive vice president now owns 22,681 shares of the company’s stock, valued at approximately $1,270,362.81. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Tami A. Erwin sold 17,000 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $57.75, for a total value of $981,750.00. Following the completion of the sale, the chief executive officer now directly owns 853 shares of the company’s stock, valued at approximately $49,260.75. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,047 shares of company stock valued at $1,214,722. Corporate insiders own 0.03% of the company’s stock.

VZ stock traded down $0.17 during mid-day trading on Wednesday, hitting $60.38. 458,140 shares of the stock were exchanged, compared to its average volume of 11,131,868. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.87 and a quick ratio of 0.84. The business has a fifty day moving average price of $59.44 and a 200 day moving average price of $57.82. Verizon Communications Inc. has a 12 month low of $52.28 and a 12 month high of $61.58. The stock has a market capitalization of $247.86 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 2.98 and a beta of 0.53.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Thursday, August 1st. The cell phone carrier reported $1.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.03. Verizon Communications had a return on equity of 34.91% and a net margin of 12.08%. The firm had revenue of $32.07 billion during the quarter, compared to analyst estimates of $32.42 billion. During the same quarter in the previous year, the company posted $1.20 earnings per share. The company’s revenue was down .4% compared to the same quarter last year. As a group, equities analysts forecast that Verizon Communications Inc. will post 4.81 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be paid a dividend of $0.615 per share. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $2.46 annualized dividend and a yield of 4.07%. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.60. Verizon Communications’s payout ratio is 52.23%.

Several equities research analysts recently issued reports on VZ shares. ValuEngine lowered Verizon Communications from a “hold” rating to a “sell” rating in a research note on Friday, October 4th. Zacks Investment Research raised Verizon Communications from a “hold” rating to a “buy” rating and set a $62.00 price objective for the company in a research note on Monday, September 2nd. Sanford C. Bernstein started coverage on Verizon Communications in a research note on Tuesday. They set a “market perform” rating and a $63.00 price objective for the company. Nomura set a $65.00 price objective on Verizon Communications and gave the company a “buy” rating in a research note on Wednesday, September 18th. Finally, Citigroup set a $62.00 price objective on Verizon Communications and gave the company a “hold” rating in a research note on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $61.90.

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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