Verizon Communications Inc. (NYSE:VZ) Position Lessened by Foundry Partners LLC

Foundry Partners LLC trimmed its stake in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 5.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 887,684 shares of the cell phone carrier's stock after selling 52,197 shares during the quarter. Verizon Communications comprises approximately 2.1% of Foundry Partners LLC's investment portfolio, making the stock its 2nd biggest position. Foundry Partners LLC's holdings in Verizon Communications were worth $40,265,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Brighton Jones LLC lifted its holdings in shares of Verizon Communications by 61.2% in the fourth quarter. Brighton Jones LLC now owns 43,986 shares of the cell phone carrier's stock worth $1,759,000 after acquiring an additional 16,704 shares during the last quarter. Proficio Capital Partners LLC lifted its holdings in shares of Verizon Communications by 64.4% in the fourth quarter. Proficio Capital Partners LLC now owns 11,127 shares of the cell phone carrier's stock worth $445,000 after acquiring an additional 4,360 shares during the last quarter. Whittier Trust Co. lifted its holdings in shares of Verizon Communications by 0.9% in the fourth quarter. Whittier Trust Co. now owns 218,731 shares of the cell phone carrier's stock worth $8,744,000 after acquiring an additional 1,980 shares during the last quarter. HUB Investment Partners LLC lifted its holdings in shares of Verizon Communications by 2.5% in the fourth quarter. HUB Investment Partners LLC now owns 32,181 shares of the cell phone carrier's stock worth $1,287,000 after acquiring an additional 798 shares during the last quarter. Finally, Douglass Winthrop Advisors LLC lifted its holdings in shares of Verizon Communications by 44.3% in the fourth quarter. Douglass Winthrop Advisors LLC now owns 39,832 shares of the cell phone carrier's stock worth $1,593,000 after acquiring an additional 12,228 shares during the last quarter. 62.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on VZ. Morgan Stanley began coverage on Verizon Communications in a report on Thursday, July 10th. They set an "equal weight" rating and a $47.00 price target on the stock. Royal Bank Of Canada restated a "sector perform" rating and set a $45.00 price target (up from $42.00) on shares of Verizon Communications in a report on Tuesday, March 25th. Arete Research upgraded Verizon Communications to a "strong-buy" rating in a report on Tuesday, July 8th. Oppenheimer upped their target price on Verizon Communications from $48.00 to $50.00 and gave the company an "outperform" rating in a report on Tuesday, April 1st. Finally, Scotiabank upped their target price on Verizon Communications from $48.50 to $49.00 and gave the company a "sector perform" rating in a report on Wednesday, April 23rd. Eleven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $47.00.

Verizon Communications Stock Down 0.4%

NYSE VZ traded down $0.18 on Friday, reaching $40.77. The company had a trading volume of 20,997,542 shares, compared to its average volume of 20,259,077. The stock has a market capitalization of $171.90 billion, a P/E ratio of 9.71, a P/E/G ratio of 3.28 and a beta of 0.37. The company's fifty day moving average is $42.88 and its 200 day moving average is $42.42. Verizon Communications Inc. has a 52-week low of $37.59 and a 52-week high of $47.36. The company has a quick ratio of 0.58, a current ratio of 0.61 and a debt-to-equity ratio of 1.19.

Verizon Communications (NYSE:VZ - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The cell phone carrier reported $1.19 EPS for the quarter, beating analysts' consensus estimates of $1.15 by $0.04. The business had revenue of $33.50 billion during the quarter, compared to analyst estimates of $33.31 billion. Verizon Communications had a return on equity of 19.66% and a net margin of 13.14%. Sell-side analysts anticipate that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 10th will be paid a dividend of $0.6775 per share. The ex-dividend date is Thursday, July 10th. This represents a $2.71 annualized dividend and a dividend yield of 6.65%. Verizon Communications's payout ratio is 64.52%.

Insider Buying and Selling at Verizon Communications

In other news, CEO Kyle Malady sold 9,000 shares of the stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $44.10, for a total transaction of $396,900.00. Following the completion of the transaction, the chief executive officer owned 10,008 shares in the company, valued at approximately $441,352.80. This represents a 47.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders sold 21,500 shares of company stock worth $938,400. 0.10% of the stock is currently owned by corporate insiders.

Verizon Communications Profile

Verizon Communications Inc, through its subsidiaries, engages in the provision of communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. It operates in two segments, Verizon Consumer Group (Consumer) and Verizon Business Group (Business).