Crestwood Advisors Group LLC Reduces Stock Holdings in Verizon Communications Inc. (NYSE:VZ)


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Crestwood Advisors Group LLC reduced its position in Verizon Communications Inc. (NYSE:VZ) by 12.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 108,393 shares of the cell phone carrier’s stock after selling 15,851 shares during the period. Crestwood Advisors Group LLC’s holdings in Verizon Communications were worth $6,368,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. FMR LLC lifted its stake in shares of Verizon Communications by 25.4% in the 4th quarter. FMR LLC now owns 34,745,450 shares of the cell phone carrier’s stock valued at $2,041,296,000 after purchasing an additional 7,032,460 shares during the period. California Public Employees Retirement System raised its position in Verizon Communications by 4.1% during the fourth quarter. California Public Employees Retirement System now owns 25,869,512 shares of the cell phone carrier’s stock worth $1,519,834,000 after acquiring an additional 1,029,507 shares during the period. Swiss National Bank raised its position in Verizon Communications by 0.4% during the third quarter. Swiss National Bank now owns 18,828,451 shares of the cell phone carrier’s stock worth $1,120,105,000 after acquiring an additional 69,000 shares during the period. UBS Asset Management Americas Inc. raised its position in Verizon Communications by 5.4% during the third quarter. UBS Asset Management Americas Inc. now owns 18,225,458 shares of the cell phone carrier’s stock worth $1,084,232,000 after acquiring an additional 937,809 shares during the period. Finally, Sanders Capital LLC raised its position in Verizon Communications by 2.3% during the third quarter. Sanders Capital LLC now owns 14,455,698 shares of the cell phone carrier’s stock worth $953,857,000 after acquiring an additional 330,979 shares during the period. Hedge funds and other institutional investors own 64.85% of the company’s stock.

A number of research firms have weighed in on VZ. Wells Fargo & Company began coverage on shares of Verizon Communications in a research report on Monday, November 16th. They set an “equal weight” rating and a $60.00 price objective for the company. JPMorgan Chase & Co. raised shares of Verizon Communications from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $61.00 to $65.00 in a report on Thursday, November 5th. Moffett Nathanson raised shares of Verizon Communications from a “neutral” rating to a “buy” rating and upped their target price for the stock from $59.00 to $66.00 in a report on Wednesday, December 2nd. Tigress Financial reaffirmed a “hold” rating on shares of Verizon Communications in a report on Sunday, November 1st. Finally, Credit Suisse Group dropped their target price on shares of Verizon Communications from $61.00 to $59.00 and set a “neutral” rating for the company in a report on Tuesday, January 19th. Eleven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $61.84.

VZ stock traded up $0.36 during mid-day trading on Tuesday, hitting $56.81. 769,118 shares of the company were exchanged, compared to its average volume of 20,626,359. The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 1.66. The firm has a market capitalization of $235.09 billion, a P/E ratio of 12.25, a PEG ratio of 3.54 and a beta of 0.44. The business has a fifty day simple moving average of $56.33 and a 200-day simple moving average of $58.66. Verizon Communications Inc. has a 12-month low of $48.84 and a 12-month high of $61.95.

Verizon Communications (NYSE:VZ) last announced its earnings results on Monday, January 25th. The cell phone carrier reported $1.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.17 by $0.04. The company had revenue of $34.70 billion during the quarter, compared to analyst estimates of $34.47 billion. Verizon Communications had a net margin of 14.76% and a return on equity of 32.15%. Verizon Communications’s revenue was down .2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.13 earnings per share. Research analysts predict that Verizon Communications Inc. will post 4.77 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, February 1st. Stockholders of record on Friday, January 8th were given a dividend of $0.6275 per share. The ex-dividend date was Thursday, January 7th. This represents a $2.51 annualized dividend and a dividend yield of 4.42%. Verizon Communications’s dividend payout ratio is presently 52.18%.

Verizon Communications Profile

Verizon Communications Inc offers communications, 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, laptop computers and netbooks, and other wireless-enabled connected devices, such as smart watches and other wearables.

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

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