Verizon Communications Inc. (NYSE:VZ) Holdings Raised by Nichols & Pratt Advisers LLP MA

Nichols & Pratt Advisers LLP MA increased its holdings in Verizon Communications Inc. (NYSE:VZ - Free Report) by 3.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 764,566 shares of the cell phone carrier's stock after buying an additional 23,476 shares during the period. Verizon Communications comprises approximately 2.4% of Nichols & Pratt Advisers LLP MA's holdings, making the stock its 16th biggest position. Nichols & Pratt Advisers LLP MA's holdings in Verizon Communications were worth $34,682,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Crescent Sterling Ltd. boosted its holdings in shares of Verizon Communications by 0.8% during the first quarter. Crescent Sterling Ltd. now owns 30,906 shares of the cell phone carrier's stock valued at $1,402,000 after acquiring an additional 235 shares during the period. Bernard Wealth Management Corp. boosted its stake in Verizon Communications by 81.0% during the 1st quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier's stock valued at $25,000 after purchasing an additional 243 shares during the period. Cherry Tree Wealth Management LLC grew its position in Verizon Communications by 71.8% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier's stock worth $26,000 after purchasing an additional 244 shares during the last quarter. NCM Capital Management LLC increased its stake in shares of Verizon Communications by 1.4% in the fourth quarter. NCM Capital Management LLC now owns 18,390 shares of the cell phone carrier's stock valued at $735,000 after purchasing an additional 245 shares during the period. Finally, CRA Financial Services LLC increased its stake in shares of Verizon Communications by 3.7% in the first quarter. CRA Financial Services LLC now owns 6,913 shares of the cell phone carrier's stock valued at $314,000 after purchasing an additional 246 shares during the period. Institutional investors own 62.06% of the company's stock.

Verizon Communications Trading Up 0.1%

Shares of NYSE:VZ traded up $0.03 during midday trading on Friday, reaching $43.62. The company had a trading volume of 10,301,320 shares, compared to its average volume of 20,121,261. The company has a fifty day simple moving average of $43.19 and a two-hundred day simple moving average of $42.26. The firm has a market cap of $183.91 billion, a price-to-earnings ratio of 10.39, a price-to-earnings-growth ratio of 3.23 and a beta of 0.37. Verizon Communications Inc. has a 1-year low of $37.59 and a 1-year high of $47.36. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.58 and a current ratio of 0.61.

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

Verizon Communications Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be paid a dividend of $0.6775 per share. This represents a $2.71 annualized dividend and a yield of 6.21%. The ex-dividend date is Thursday, July 10th. Verizon Communications's dividend payout ratio (DPR) is currently 64.52%.

Insider Activity

In other news, CEO Kyle Malady sold 9,000 shares of Verizon Communications 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 transaction, the chief executive officer owned 10,008 shares in the company, valued at approximately $441,352.80. The trade was a 47.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 21,500 shares of company stock valued at $938,400 in the last ninety days. 0.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on VZ shares. Wall Street Zen downgraded Verizon Communications from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 13th. 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 research report on Tuesday, March 25th. Wolfe Research lowered shares of Verizon Communications from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, March 12th. Evercore ISI raised Verizon Communications from an "in-line" rating to an "outperform" rating and set a $48.00 price target for the company in a research note on Friday, April 11th. Finally, Scotiabank boosted their price objective on Verizon Communications from $48.50 to $49.00 and gave the stock a "sector perform" rating in a research note on Wednesday, April 23rd. Nine analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $47.25.

About Verizon Communications

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).