Resources Management Corp CT ADV Buys New Shares in Verizon Communications Inc. (NYSE:VZ)

Resources Management Corp CT ADV bought a new position in shares of Verizon Communications Inc. (NYSE:VZ) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 63,483 shares of the cell phone carrier’s stock, valued at approximately $3,832,000.

A number of other large investors also recently bought and sold shares of VZ. Financial Gravity Wealth Inc. boosted its holdings in Verizon Communications by 4.5% during the 3rd quarter. Financial Gravity Wealth Inc. now owns 3,942 shares of the cell phone carrier’s stock worth $238,000 after acquiring an additional 169 shares during the last quarter. Albert D Mason Inc. lifted its position in shares of Verizon Communications by 0.7% during the third quarter. Albert D Mason Inc. now owns 23,439 shares of the cell phone carrier’s stock valued at $1,415,000 after purchasing an additional 170 shares in the last quarter. SMH Capital Advisors Inc. boosted its holdings in Verizon Communications by 4.6% during the third quarter. SMH Capital Advisors Inc. now owns 3,919 shares of the cell phone carrier’s stock worth $237,000 after purchasing an additional 172 shares during the last quarter. Nadler Financial Group Inc. boosted its holdings in Verizon Communications by 1.2% during the third quarter. Nadler Financial Group Inc. now owns 15,114 shares of the cell phone carrier’s stock worth $912,000 after purchasing an additional 174 shares during the last quarter. Finally, Advocacy Wealth Management Services LLC boosted its holdings in Verizon Communications by 35.8% during the third quarter. Advocacy Wealth Management Services LLC now owns 687 shares of the cell phone carrier’s stock worth $41,000 after purchasing an additional 181 shares during the last quarter. Institutional investors and hedge funds own 65.28% of the company’s stock.

In other news, EVP Craig L. Silliman sold 1,346 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $59.55, for a total value of $80,154.30. Following the sale, the executive vice president now owns 18,637 shares of the company’s stock, valued at $1,109,833.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Craig L. Silliman sold 1,349 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $60.42, for a total transaction of $81,506.58. Following the completion of the sale, the executive vice president now directly owns 19,983 shares in the company, valued at approximately $1,207,372.86. The disclosure for this sale can be found here. Insiders sold 4,044 shares of company stock valued at $242,790 over the last three months. Company insiders own 0.03% of the company’s stock.

Several equities research analysts have commented on VZ shares. Moffett Nathanson set a $57.00 price objective on shares of Verizon Communications and gave the company a “hold” rating in a research note on Friday, October 25th. HSBC downgraded Verizon Communications from a “buy” rating to a “hold” rating and set a $65.00 target price on the stock. in a research note on Thursday, November 14th. ValuEngine raised Verizon Communications from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Nomura downgraded Verizon Communications from a “buy” rating to a “neutral” rating and decreased their price target for the company from $67.00 to $65.00 in a research report on Monday, November 4th. Finally, Sanford C. Bernstein initiated coverage on Verizon Communications in a research report on Tuesday, October 15th. They set a “market perform” rating and a $63.00 price target for the company. Eleven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $62.84.

VZ traded up $0.39 during midday trading on Wednesday, reaching $60.53. The company had a trading volume of 8,230,117 shares, compared to its average volume of 12,949,268. Verizon Communications Inc. has a 12-month low of $52.28 and a 12-month high of $61.34. The business has a 50-day moving average price of $60.03 and a two-hundred day moving average price of $58.35. The stock has a market cap of $249.14 billion, a PE ratio of 12.85, a P/E/G ratio of 3.87 and a beta of 0.52. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.85 and a current ratio of 0.89.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Friday, October 25th. The cell phone carrier reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.01. Verizon Communications had a net margin of 12.26% and a return on equity of 34.50%. The company had revenue of $32.89 billion for the quarter, compared to analysts’ expectations of $32.74 billion. During the same quarter in the previous year, the firm posted $1.22 EPS. Verizon Communications’s revenue was up .9% on a year-over-year basis. On average, research analysts anticipate that Verizon Communications Inc. will post 4.84 earnings per share for the current year.

Verizon Communications Company Profile

Verizon Communications Inc, through its subsidiaries, offers communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company's Wireless segment provides wireless voice and data services; Internet access on various notebook computers and tablets; international travel wireless services; and network access services to deliver various Internet of Things products and services, as well as offers digital advertising and digital media services platforms.

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

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