JGP Wealth Management LLC raised its holdings in Verizon Communications Inc. (NYSE:VZ) by 9.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 40,798 shares of the cell phone carrier’s stock after buying an additional 3,382 shares during the period. JGP Wealth Management LLC’s holdings in Verizon Communications were worth $2,170,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in VZ. Bank of New York Mellon Corp lifted its position in shares of Verizon Communications by 12,167,820.7% during the third quarter. Bank of New York Mellon Corp now owns 55,242,360 shares of the cell phone carrier’s stock valued at $2,949,390,000 after purchasing an additional 55,241,906 shares in the last quarter. Capital International Investors lifted its position in shares of Verizon Communications by 23.0% during the third quarter. Capital International Investors now owns 43,029,226 shares of the cell phone carrier’s stock valued at $2,297,330,000 after purchasing an additional 8,034,336 shares in the last quarter. Morgan Stanley lifted its position in shares of Verizon Communications by 21.7% during the third quarter. Morgan Stanley now owns 42,317,579 shares of the cell phone carrier’s stock valued at $2,259,336,000 after purchasing an additional 7,558,041 shares in the last quarter. Capital World Investors lifted its position in shares of Verizon Communications by 9.9% during the third quarter. Capital World Investors now owns 71,733,981 shares of the cell phone carrier’s stock valued at $3,829,877,000 after purchasing an additional 6,485,041 shares in the last quarter. Finally, BlackRock Inc. lifted its position in shares of Verizon Communications by 2.3% during the third quarter. BlackRock Inc. now owns 276,264,842 shares of the cell phone carrier’s stock valued at $14,749,779,000 after purchasing an additional 6,117,952 shares in the last quarter. 65.90% of the stock is currently owned by hedge funds and other institutional investors.

In related news, EVP Craig L. Silliman sold 1,349 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $57.12, for a total transaction of $77,054.88. Following the completion of the sale, the executive vice president now owns 25,549 shares in the company, valued at $1,459,358.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lowell C. Mcadam sold 285,988 shares of the firm’s stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $56.72, for a total transaction of $16,221,239.36. Following the sale, the director now owns 362,932 shares of the company’s stock, valued at approximately $20,585,503.04. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.

NYSE VZ opened at $58.39 on Friday. Verizon Communications Inc. has a 52-week low of $46.08 and a 52-week high of $61.58. The company has a debt-to-equity ratio of 1.94, a current ratio of 0.91 and a quick ratio of 0.88. The stock has a market cap of $241.03 billion, a P/E ratio of 12.40, a P/E/G ratio of 2.27 and a beta of 0.50.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Tuesday, January 29th. The cell phone carrier reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.03. Verizon Communications had a net margin of 11.87% and a return on equity of 35.96%. The business had revenue of $34.28 billion during the quarter, compared to the consensus estimate of $34.45 billion. During the same quarter last year, the company posted $0.86 earnings per share. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. On average, equities research analysts anticipate that Verizon Communications Inc. will post 4.66 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be issued a dividend of $0.6025 per share. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $2.41 dividend on an annualized basis and a yield of 4.13%. Verizon Communications’s dividend payout ratio (DPR) is presently 51.17%.

A number of research analysts recently weighed in on VZ shares. Morgan Stanley lowered shares of Verizon Communications from an “overweight” rating to an “equal weight” rating and set a $58.00 price target on the stock. in a research report on Wednesday, December 12th. JPMorgan Chase & Co. lowered shares of Verizon Communications from an “overweight” rating to a “neutral” rating and set a $62.00 price target on the stock. in a research report on Monday, December 3rd. Tigress Financial reissued a “hold” rating on shares of Verizon Communications in a research report on Friday, December 28th. ValuEngine raised shares of Verizon Communications from a “hold” rating to a “buy” rating in a research report on Friday, December 21st. Finally, Zacks Investment Research raised shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a research report on Saturday, January 26th. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Verizon Communications has a consensus rating of “Buy” and an average price target of $55.76.

COPYRIGHT VIOLATION NOTICE: “JGP Wealth Management LLC Acquires 3,382 Shares of Verizon Communications Inc. (VZ)” was first published by Marea Informative and is owned by of Marea Informative. If you are viewing this news story on another domain, it was illegally stolen and reposted in violation of international trademark and copyright legislation. The original version of this news story can be read at https://www.mareainformativa.com/news/2019/03/17/jgp-wealth-management-llc-acquires-3382-shares-of-verizon-communications-inc-vz.html.

Verizon Communications 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.

Featured Story: What is Call Option Volume?

Want to see what other hedge funds are holding VZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Verizon Communications Inc. (NYSE:VZ).

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

Receive News & Ratings for Verizon Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verizon Communications and related companies with MarketBeat.com's FREE daily email newsletter.