Catalyst Capital Advisors LLC Trims Stock Holdings in Verizon Communications Inc. (NYSE:VZ)

Catalyst Capital Advisors LLC lowered its holdings in Verizon Communications Inc. (NYSE:VZGet Rating) by 87.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,445 shares of the cell phone carrier’s stock after selling 31,888 shares during the period. Catalyst Capital Advisors LLC’s holdings in Verizon Communications were worth $231,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of VZ. ARGI Investment Services LLC lifted its holdings in Verizon Communications by 9.1% during the 3rd quarter. ARGI Investment Services LLC now owns 114,242 shares of the cell phone carrier’s stock worth $6,170,000 after buying an additional 9,484 shares during the last quarter. Zacks Investment Management lifted its holdings in Verizon Communications by 31.0% during the 3rd quarter. Zacks Investment Management now owns 1,858,570 shares of the cell phone carrier’s stock worth $100,381,000 after buying an additional 440,101 shares during the last quarter. Everett Harris & Co. CA lifted its holdings in Verizon Communications by 6.2% during the 4th quarter. Everett Harris & Co. CA now owns 491,456 shares of the cell phone carrier’s stock worth $25,536,000 after buying an additional 28,710 shares during the last quarter. Quadrant Private Wealth Management LLC lifted its holdings in Verizon Communications by 4.4% during the 3rd quarter. Quadrant Private Wealth Management LLC now owns 47,483 shares of the cell phone carrier’s stock worth $2,565,000 after buying an additional 2,011 shares during the last quarter. Finally, Morningstar Investment Services LLC lifted its holdings in Verizon Communications by 0.7% during the 3rd quarter. Morningstar Investment Services LLC now owns 535,067 shares of the cell phone carrier’s stock worth $29,084,000 after buying an additional 3,764 shares during the last quarter. 63.78% of the stock is owned by hedge funds and other institutional investors.

NYSE VZ traded up $0.12 on Friday, reaching $48.18. The stock had a trading volume of 21,078,604 shares, compared to its average volume of 26,267,076. Verizon Communications Inc. has a 1 year low of $45.55 and a 1 year high of $59.26. The business has a 50 day moving average price of $51.22 and a 200 day moving average price of $52.14. The company has a market capitalization of $202.34 billion, a price-to-earnings ratio of 9.36, a P/E/G ratio of 2.47 and a beta of 0.42. The company has a current ratio of 0.76, a quick ratio of 0.69 and a debt-to-equity ratio of 1.64.

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

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 2nd. Stockholders of record on Friday, April 8th were paid a $0.64 dividend. The ex-dividend date of this dividend was Thursday, April 7th. This represents a $2.56 annualized dividend and a dividend yield of 5.31%. Verizon Communications’s dividend payout ratio is currently 49.71%.

VZ has been the topic of a number of research reports. StockNews.com upgraded Verizon Communications from a “hold” rating to a “buy” rating in a research report on Thursday. William Blair reiterated a “market perform” rating on shares of Verizon Communications in a research report on Monday, April 25th. The Goldman Sachs Group cut Verizon Communications from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $61.00 to $55.00 in a research report on Monday, April 25th. JPMorgan Chase & Co. cut Verizon Communications from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $62.00 to $56.00 in a research report on Wednesday, January 26th. Finally, DZ Bank cut Verizon Communications from a “hold” rating to a “sell” rating and set a $44.00 price target on the stock. in a research report on Friday, April 29th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $57.93.

In other news, EVP Craig L. Silliman sold 1,558 shares of the stock in a transaction on Monday, April 4th. The stock was sold at an average price of $52.00, for a total value of $81,016.00. Following the transaction, the executive vice president now owns 38,077 shares of the company’s stock, valued at approximately $1,980,004. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Tami A. Erwin sold 23,647 shares of the stock in a transaction on Tuesday, April 26th. The shares were sold at an average price of $49.77, for a total value of $1,176,911.19. Following the completion of the transaction, the chief executive officer now directly owns 21,817 shares in the company, valued at approximately $1,085,832.09. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,763 shares of company stock worth $1,342,807. Corporate insiders own 0.10% of the company’s stock.

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.

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

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