Winthrop Partners WNY LLC Grows Holdings in Verizon Communications Inc. (VZ)

Winthrop Partners WNY LLC boosted its position in shares of Verizon Communications Inc. (NYSE:VZ) by 1.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 54,694 shares of the cell phone carrier’s stock after purchasing an additional 872 shares during the quarter. Verizon Communications comprises about 2.9% of Winthrop Partners WNY LLC’s portfolio, making the stock its 7th biggest position. Winthrop Partners WNY LLC’s holdings in Verizon Communications were worth $3,075,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CI Global Investments Inc. boosted its position in Verizon Communications by 13.0% during the 3rd quarter. CI Global Investments Inc. now owns 8,089,141 shares of the cell phone carrier’s stock valued at $431,879,000 after acquiring an additional 930,083 shares in the last quarter. Honkamp Krueger Financial Services Inc. boosted its position in Verizon Communications by 5.9% during the 3rd quarter. Honkamp Krueger Financial Services Inc. now owns 58,563 shares of the cell phone carrier’s stock valued at $3,127,000 after acquiring an additional 3,253 shares in the last quarter. Capital City Trust Co. FL boosted its position in Verizon Communications by 0.6% during the 4th quarter. Capital City Trust Co. FL now owns 60,631 shares of the cell phone carrier’s stock valued at $3,408,000 after acquiring an additional 373 shares in the last quarter. Kentucky Retirement Systems bought a new stake in Verizon Communications during the 3rd quarter valued at $11,610,000. Finally, Massmutual Trust Co. FSB ADV boosted its position in Verizon Communications by 4.2% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 176,771 shares of the cell phone carrier’s stock valued at $9,438,000 after acquiring an additional 7,198 shares in the last quarter. Institutional investors own 66.97% of the company’s stock.

In other Verizon Communications news, EVP Craig L. Silliman sold 1,349 shares of Verizon Communications stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $57.12, for a total transaction of $77,054.88. Following the completion of the sale, the executive vice president now owns 25,549 shares of the company’s stock, valued at approximately $1,459,358.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Lowell C. Mcadam sold 285,988 shares of Verizon Communications stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $56.72, for a total value of $16,221,239.36. Following the sale, the director now directly owns 362,932 shares of the company’s stock, valued at approximately $20,585,503.04. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 288,686 shares of company stock valued at $16,379,639. 0.03% of the stock is currently owned by insiders.

Shares of VZ opened at $58.79 on Wednesday. Verizon Communications Inc. has a one year low of $46.08 and a one year high of $61.58. The company has a quick ratio of 0.88, a current ratio of 0.91 and a debt-to-equity ratio of 1.94. The stock has a market cap of $242.35 billion, a price-to-earnings ratio of 12.48, a PEG ratio of 2.62 and a beta of 0.51.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Tuesday, January 29th. The cell phone carrier reported $1.12 EPS for the quarter, topping the Zacks’ consensus estimate of $1.09 by $0.03. Verizon Communications had a return on equity of 35.96% and a net margin of 11.87%. The company had revenue of $34.28 billion during the quarter, compared to analysts’ expectations of $34.45 billion. During the same quarter in the previous year, the firm posted $0.86 EPS. The firm’s revenue was up 1.0% compared to the same quarter last year. As a group, equities research analysts expect that Verizon Communications Inc. will post 4.66 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be given a dividend of $0.6025 per share. The ex-dividend date is Tuesday, April 9th. This represents a $2.41 dividend on an annualized basis and a yield of 4.10%. Verizon Communications’s dividend payout ratio is currently 51.17%.

Several brokerages have issued reports on VZ. ValuEngine raised Verizon Communications from a “hold” rating to a “buy” rating in a research report on Friday, December 21st. Zacks Investment Research raised Verizon Communications from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a research report on Saturday, January 26th. Finally, Tigress Financial reissued a “hold” rating on shares of Verizon Communications in a research report on Friday, December 28th. Nine analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Verizon Communications presently has an average rating of “Hold” and a consensus price target of $56.07.

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Verizon Communications Profile

Verizon Communications, Inc is a holding company, which engages in the provision communications, information and entertainment products and services to consumers, businesses and governmental agencies. It operates through Wireless and Wireline segments. The Wireless segment provides wireless voice and data services and equipment sales, which are provided to consumer, business, and government customers.

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

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