Harrington Investments INC Lowers Stock Holdings in Verizon Communications Inc. (NYSE:VZ)


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Harrington Investments INC reduced its position in Verizon Communications Inc. (NYSE:VZ) by 4.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,473 shares of the cell phone carrier’s stock after selling 1,110 shares during the quarter. Harrington Investments INC’s holdings in Verizon Communications were worth $1,262,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Swiss National Bank raised its holdings in Verizon Communications by 0.4% during the 3rd quarter. Swiss National Bank now owns 18,828,451 shares of the cell phone carrier’s stock valued at $1,120,105,000 after buying an additional 69,000 shares during the last quarter. UBS Asset Management Americas Inc. boosted its holdings in Verizon Communications by 5.4% in the third quarter. UBS Asset Management Americas Inc. now owns 18,225,458 shares of the cell phone carrier’s stock worth $1,084,232,000 after acquiring an additional 937,809 shares in the last quarter. Sanders Capital LLC grew its stake in shares of Verizon Communications by 2.3% in the third quarter. Sanders Capital LLC now owns 14,455,698 shares of the cell phone carrier’s stock worth $953,857,000 after acquiring an additional 330,979 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Verizon Communications by 8.7% in the second quarter. Principal Financial Group Inc. now owns 11,561,723 shares of the cell phone carrier’s stock worth $637,399,000 after acquiring an additional 929,045 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Verizon Communications by 3.1% during the second quarter. PNC Financial Services Group Inc. now owns 9,150,567 shares of the cell phone carrier’s stock valued at $504,472,000 after acquiring an additional 271,801 shares in the last quarter. 64.85% of the stock is owned by institutional investors.

NYSE VZ traded down $0.20 during trading hours on Wednesday, reaching $57.06. The company’s stock had a trading volume of 16,937,707 shares, compared to its average volume of 20,107,250. Verizon Communications Inc. has a 1 year low of $48.84 and a 1 year high of $61.95. The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 1.66. The company has a market capitalization of $236.12 billion, a price-to-earnings ratio of 12.42, a PEG ratio of 3.54 and a beta of 0.44. The firm’s 50-day moving average price is $59.74 and its 200-day moving average price is $58.63.

Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Wednesday, October 21st. The cell phone carrier reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.03. Verizon Communications had a net margin of 14.76% and a return on equity of 32.15%. The firm had revenue of $31.50 billion for the quarter, compared to analysts’ expectations of $31.60 billion. During the same quarter last year, the business posted $1.25 earnings per share. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. Equities research analysts anticipate that Verizon Communications Inc. will post 4.77 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, February 1st. Shareholders of record on Friday, January 8th will be paid a $0.6275 dividend. This represents a $2.51 annualized dividend and a yield of 4.40%. The ex-dividend date is Thursday, January 7th. Verizon Communications’s payout ratio is currently 52.18%.

VZ has been the topic of several recent analyst reports. Moffett Nathanson raised shares of Verizon Communications from a “neutral” rating to a “buy” rating and increased their price objective for the company from $59.00 to $66.00 in a research report on Wednesday, December 2nd. Wolfe Research initiated coverage on shares of Verizon Communications in a report on Monday, October 19th. They set a “peer perform” rating and a $62.00 price target on the stock. JPMorgan Chase & Co. raised shares of Verizon Communications from a “neutral” rating to an “overweight” rating and raised their price target for the company from $61.00 to $65.00 in a research report on Thursday, November 5th. BidaskClub cut Verizon Communications from a “sell” rating to a “strong sell” rating in a research report on Wednesday, December 30th. Finally, Tigress Financial reissued a “hold” rating on shares of Verizon Communications in a report on Sunday, November 1st. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $62.00.

In other news, EVP Craig L. Silliman sold 10,411 shares of the firm’s stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $57.73, for a total transaction of $601,027.03. Following the completion of the transaction, the executive vice president now owns 23,771 shares in the company, valued at $1,372,299.83. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.07% of the stock is owned by corporate insiders.

About Verizon Communications

Verizon Communications Inc offers communications, 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, laptop computers and netbooks, and other wireless-enabled connected devices, such as smart watches and other wearables.

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

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