Clifford Swan Investment Counsel LLC Decreases Stock Holdings in Verizon Communications Inc. (NYSE:VZ)

Clifford Swan Investment Counsel LLC trimmed its position in shares of Verizon Communications Inc. (NYSE:VZ – Get Rating) by 0.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 180,285 shares of the cell phone carrier’s stock after selling 1,619 shares during the quarter. Clifford Swan Investment Counsel LLC’s holdings in Verizon Communications were worth $9,184,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Moody Lynn & Lieberson LLC increased its holdings in Verizon Communications by 13.1% in the 4th quarter. Moody Lynn & Lieberson LLC now owns 105,648 shares of the cell phone carrier’s stock worth $5,489,000 after buying an additional 12,245 shares during the period. Magnolia Capital Advisors LLC increased its holdings in Verizon Communications by 3.7% in the 4th quarter. Magnolia Capital Advisors LLC now owns 28,840 shares of the cell phone carrier’s stock worth $1,499,000 after buying an additional 1,034 shares during the period. Lloyd Advisory Services LLC. increased its holdings in Verizon Communications by 17.5% in the 4th quarter. Lloyd Advisory Services LLC. now owns 7,061 shares of the cell phone carrier’s stock worth $367,000 after buying an additional 1,050 shares during the period. Brightworth increased its holdings in Verizon Communications by 1.5% in the 4th quarter. Brightworth now owns 197,098 shares of the cell phone carrier’s stock worth $10,241,000 after buying an additional 2,851 shares during the period. Finally, Carlton Hofferkamp & Jenks Wealth Management LLC increased its holdings in Verizon Communications by 1.6% in the 4th quarter. Carlton Hofferkamp & Jenks Wealth Management LLC now owns 51,286 shares of the cell phone carrier’s stock worth $2,713,000 after buying an additional 831 shares during the period. 63.78% of the stock is owned by hedge funds and other institutional investors.

Verizon Communications Trading Down 6.7 %

Shares of VZ stock opened at $44.45 on Monday. The stock’s fifty day moving average is $50.34 and its two-hundred day moving average is $51.56. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.69 and a current ratio of 0.76. The firm has a market capitalization of $186.67 billion, a P/E ratio of 8.91, a PEG ratio of 2.03 and a beta of 0.40. Verizon Communications Inc. has a fifty-two week low of $43.76 and a fifty-two week high of $56.33.

Verizon Communications (NYSE:VZ – Get Rating) last announced its quarterly earnings data on Friday, July 22nd. The cell phone carrier reported $1.31 earnings per share for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). The firm had revenue of $33.79 billion during the quarter, compared to analysts’ expectations of $33.77 billion. Verizon Communications had a net margin of 15.93% and a return on equity of 28.15%. The company’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.37 EPS. Research analysts expect that Verizon Communications Inc. will post 5.15 earnings per share for the current fiscal year.

Verizon Communications Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 1st. Stockholders of record on Friday, July 8th will be issued a dividend of $0.64 per share. The ex-dividend date is Thursday, July 7th. This represents a $2.56 annualized dividend and a dividend yield of 5.76%. Verizon Communications’s dividend payout ratio is presently 51.30%.

Analyst Upgrades and Downgrades

VZ has been the topic of a number of analyst reports. Royal Bank of Canada dropped their price objective on shares of Verizon Communications from $57.00 to $54.00 and set a “sector perform” rating on the stock in a research note on Wednesday, June 22nd. JPMorgan Chase & Co. reaffirmed a “hold” rating and set a $57.00 price objective on shares of Verizon Communications in a research note on Friday, June 24th. Credit Suisse Group dropped their price objective on shares of Verizon Communications from $58.00 to $54.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 21st. Barclays cut shares of Verizon Communications from an “overweight” rating to an “equal weight” rating in a research note on Friday. Finally, DZ Bank lowered Verizon Communications from a “hold” rating to a “sell” rating and set a $44.00 target price on the stock. in a research report on Friday, April 29th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, Verizon Communications has a consensus rating of “Hold” and a consensus price target of $56.93.

Insider Transactions at Verizon Communications

In other news, EVP Craig L. Silliman sold 1,558 shares of Verizon Communications stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $51.42, for a total transaction of $80,112.36. Following the transaction, the executive vice president now owns 33,403 shares in the company, valued at approximately $1,717,582.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Craig L. Silliman sold 1,558 shares of Verizon Communications stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $51.42, for a total transaction of $80,112.36. Following the transaction, the executive vice president now owns 33,403 shares in the company, valued at approximately $1,717,582.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Tami A. Erwin sold 23,647 shares of Verizon Communications stock in a transaction on Tuesday, April 26th. The stock was sold at an average price of $49.77, for a total value of $1,176,911.19. Following the transaction, the chief executive officer now owns 21,817 shares in the company, valued at approximately $1,085,832.09. The disclosure for this sale can be found here. Insiders have sold a total of 28,321 shares of company stock worth $1,414,288 in the last quarter. Company insiders own 0.10% of the company’s stock.

About Verizon Communications

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Verizon Communications Inc, through its subsidiaries, offers communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. Its Consumer segment provides postpaid and prepaid service plans; internet access on notebook computers and tablets; wireless equipment, including smartphones and other handsets; and wireless-enabled internet devices, such as tablets, and other wireless-enabled connected devices comprising smart watches.

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