Stuart Chaussee & Associates Inc. Trims Stock Position in Verizon Communications Inc. (NYSE:VZ)

Stuart Chaussee & Associates Inc. cut its stake in shares of Verizon Communications Inc. (NYSE:VZGet Rating) by 9.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,077 shares of the cell phone carrier’s stock after selling 206 shares during the quarter. Stuart Chaussee & Associates Inc.’s holdings in Verizon Communications were worth $106,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of VZ. First National Bank Sioux Falls increased its position in shares of Verizon Communications by 2.8% in the 1st quarter. First National Bank Sioux Falls now owns 6,966 shares of the cell phone carrier’s stock valued at $355,000 after purchasing an additional 190 shares during the last quarter. Mezzasalma Advisors LLC increased its position in shares of Verizon Communications by 1.8% in the 4th quarter. Mezzasalma Advisors LLC now owns 10,687 shares of the cell phone carrier’s stock valued at $555,000 after purchasing an additional 191 shares during the last quarter. Weaver Consulting Group increased its position in shares of Verizon Communications by 1.3% in the 4th quarter. Weaver Consulting Group now owns 14,798 shares of the cell phone carrier’s stock valued at $769,000 after purchasing an additional 192 shares during the last quarter. Reitz Capital Advisors LLC increased its position in shares of Verizon Communications by 2.0% in the 4th quarter. Reitz Capital Advisors LLC now owns 9,818 shares of the cell phone carrier’s stock valued at $550,000 after purchasing an additional 195 shares during the last quarter. Finally, Diversified LLC increased its position in shares of Verizon Communications by 5.1% in the 4th quarter. Diversified LLC now owns 4,114 shares of the cell phone carrier’s stock valued at $214,000 after purchasing an additional 199 shares during the last quarter. 63.78% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have commented on VZ. 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 report on Tuesday. William Blair reissued a “market perform” rating on shares of Verizon Communications in a research report on Monday, April 25th. StockNews.com upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating in a report on Thursday, May 12th. Wolfe Research lowered their target price on shares of Verizon Communications from $60.00 to $51.00 and set a “peer perform” rating for the company in a report on Thursday, June 2nd. Finally, The Goldman Sachs Group cut shares of Verizon Communications from a “buy” rating to a “neutral” rating and lowered their target price for the company from $61.00 to $55.00 in a report on Monday, April 25th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $56.60.

Shares of NYSE:VZ opened at $50.79 on Thursday. The stock has a market cap of $213.30 billion, a P/E ratio of 9.86, a P/E/G ratio of 2.52 and a beta of 0.41. The firm has a fifty day moving average price of $50.12 and a 200 day moving average price of $51.82. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.76 and a quick ratio of 0.69. Verizon Communications Inc. has a 1-year low of $45.55 and a 1-year high of $56.85.

Verizon Communications (NYSE:VZGet Rating) last issued its quarterly earnings results on Friday, April 22nd. The cell phone carrier reported $1.35 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.35. The firm had revenue of $33.60 billion during the quarter, compared to analysts’ expectations of $33.61 billion. Verizon Communications had a net margin of 15.93% and a return on equity of 28.15%. Verizon Communications’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.31 EPS. Sell-side analysts expect that Verizon Communications Inc. will post 5.4 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 1st. Investors of record on Friday, July 8th will be paid a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a yield of 5.04%. The ex-dividend date of this dividend is Thursday, July 7th. Verizon Communications’s dividend payout ratio is currently 49.71%.

In other Verizon Communications news, EVP Craig L. Silliman sold 1,558 shares of the company’s stock in a transaction on Monday, April 4th. The shares were sold at an average price of $52.00, for a total transaction of $81,016.00. Following the completion of the transaction, the executive vice president now owns 38,077 shares in the company, valued at approximately $1,980,004. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Tami A. Erwin sold 23,647 shares of the company’s stock in a transaction on Tuesday, April 26th. The stock was sold at an average price of $49.77, for a total transaction of $1,176,911.19. Following the transaction, the chief executive officer now owns 21,817 shares of the company’s stock, valued at approximately $1,085,832.09. The disclosure for this sale can be found here. In the last quarter, insiders have sold 28,321 shares of company stock valued at $1,415,192. 0.02% of the stock is owned by company insiders.

Verizon Communications Company Profile (Get Rating)

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.

Further Reading

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

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