Teamwork Financial Advisors LLC Reduces Position in Verizon Communications Inc. (NYSE:VZ)

Teamwork Financial Advisors LLC trimmed its position in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 58.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,115 shares of the cell phone carrier's stock after selling 26,897 shares during the period. Teamwork Financial Advisors LLC's holdings in Verizon Communications were worth $867,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of VZ. Vanguard Group Inc. lifted its position in shares of Verizon Communications by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 363,824,525 shares of the cell phone carrier's stock worth $14,549,343,000 after buying an additional 5,697,337 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Verizon Communications by 7.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 108,694,230 shares of the cell phone carrier's stock valued at $4,346,682,000 after purchasing an additional 7,421,148 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Verizon Communications by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 96,823,092 shares of the cell phone carrier's stock worth $3,862,441,000 after buying an additional 998,847 shares during the last quarter. Norges Bank bought a new stake in Verizon Communications during the fourth quarter valued at about $2,300,846,000. Finally, Northern Trust Corp increased its stake in shares of Verizon Communications by 12.4% in the fourth quarter. Northern Trust Corp now owns 45,043,310 shares of the cell phone carrier's stock worth $1,801,282,000 after purchasing an additional 4,951,733 shares during the period. Institutional investors and hedge funds own 62.06% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Wall Street Zen downgraded shares of Verizon Communications from a "strong-buy" rating to a "buy" rating in a research note on Thursday, March 13th. Wolfe Research downgraded Verizon Communications from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, March 12th. Tigress Financial raised their target price on shares of Verizon Communications from $55.00 to $56.00 and gave the stock a "buy" rating in a research note on Monday, April 28th. Scotiabank raised 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. Finally, Oppenheimer increased their target price on shares of Verizon Communications from $48.00 to $50.00 and gave the stock an "outperform" rating in a report on Tuesday, April 1st. Nine research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $47.41.

Verizon Communications Stock Up 0.1%

Shares of VZ traded up $0.02 during trading hours on Thursday, hitting $43.26. The stock had a trading volume of 12,081,426 shares, compared to its average volume of 19,998,683. Verizon Communications Inc. has a 1-year low of $37.59 and a 1-year high of $47.36. The firm has a market capitalization of $182.41 billion, a P/E ratio of 10.45, a price-to-earnings-growth ratio of 4.45 and a beta of 0.39. The firm has a 50 day simple moving average of $43.51 and a 200-day simple moving average of $42.26. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.63 and a quick ratio of 0.59.

Verizon Communications (NYSE:VZ - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The cell phone carrier reported $1.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.15 by $0.04. The firm had revenue of $33.50 billion for the quarter, compared to the consensus estimate of $33.31 billion. Verizon Communications had a net margin of 12.99% and a return on equity of 19.80%. Sell-side analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Insiders Place Their Bets

In other Verizon Communications news, CEO Kyle Malady sold 5,000 shares of the company's stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $42.48, for a total value of $212,400.00. Following the completion of the transaction, the chief executive officer now owns 36,508 shares in the company, valued at $1,550,859.84. This represents a 12.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders sold 21,500 shares of company stock valued at $938,400. Corporate insiders own 0.10% of the company's stock.

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).