帕拉斯資本顧問公司出售了3,010股Verizon的股份。

Pallas Capital Advisors LLC trimmed its position in shares of Verizon Communications Inc. (NYSE:VZ – Get Rating) by 31.2% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 6,648 shares of the cell phone carrier's stock after selling 3,010 shares during the quarter. Pallas Capital Advisors LLC's holdings in Verizon Communications were worth $358,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Octavia Wealth Advisors LLC raised its holdings in Verizon Communications by 11.8% in the 1st quarter. Octavia Wealth Advisors LLC now owns 47,390 shares of the cell phone carrier's stock worth $2,414,000 after purchasing an additional 4,989 shares during the period. Red Door Wealth Management LLC raised its holdings in Verizon Communications by 22.3% in the 1st quarter. Red Door Wealth Management LLC now owns 61,598 shares of the cell phone carrier's stock worth $3,137,000 after purchasing an additional 11,239 shares during the period. West Oak Capital LLC raised its holdings in Verizon Communications by 12.6% in the 1st quarter. West Oak Capital LLC now owns 36,915 shares of the cell phone carrier's stock worth $1,880,000 after purchasing an additional 4,134 shares during the period. Boston Trust Walden Corp raised its holdings in Verizon Communications by 7.4% in the 1st quarter. Boston Trust Walden Corp now owns 295,192 shares of the cell phone carrier's stock worth $15,037,000 after purchasing an additional 20,311 shares during the period. Finally, Kessler Investment Group LLC raised its holdings in Verizon Communications by 16.3% in the 1st quarter. Kessler Investment Group LLC now owns 23,224 shares of the cell phone carrier's stock worth $1,183,000 after purchasing an additional 3,251 shares during the period. 63.78% of the stock is currently owned by hedge funds and other institutional investors.

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VZ opened at $51.64 on Tuesday. The firm has a market cap of $216.87 billion, a P/E ratio of 10.03, a P/E/G ratio of 2.66 and a beta of 0.40. Verizon Communications Inc. has a 12 month low of $45.55 and a 12 month high of $56.85. The company has a current ratio of 0.76, a quick ratio of 0.69 and a debt-to-equity ratio of 1.64. The stock has a 50-day moving average of $49.78 and a 200 day moving average of $51.84.

Verizon Communications (NYSE:VZ – Get Rating) last released its quarterly earnings results on Friday, April 22nd. The cell phone carrier reported $1.35 EPS for the quarter, hitting the consensus estimate of $1.35. The company had revenue of $33.60 billion during the quarter, compared to analyst estimates of $33.61 billion. Verizon Communications had a return on equity of 28.15% and a net margin of 15.93%. The firm's revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the business posted $1.31 earnings per share. On average, research analysts forecast that Verizon Communications Inc. will post 5.39 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, August 1st. Investors of record on Friday, July 8th will be given a $0.64 dividend. The ex-dividend date of this dividend is Thursday, July 7th. This represents a $2.56 annualized dividend and a yield of 4.96%. Verizon Communications's dividend payout ratio is currently 49.71%.

VZ has been the topic of a number of recent analyst reports. Royal Bank of Canada decreased their price target on Verizon Communications from $57.00 to $54.00 and set a "sector perform" rating on the stock in a report on Wednesday, June 22nd. Wolfe Research decreased their price target on Verizon Communications from $60.00 to $51.00 and set a "peer perform" rating on the stock in a report on Thursday, June 2nd. William Blair reissued a "market perform" rating on shares of Verizon Communications in a report on Monday, April 25th. StockNews.com raised Verizon Communications from a "hold" rating to a "buy" rating in a report on Thursday, May 12th. Finally, The Goldman Sachs Group cut Verizon Communications from a "buy" rating to a "neutral" rating and decreased their price target for the company from $61.00 to $55.00 in a report on Monday, April 25th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $57.14.

In other Verizon Communications news, EVP Craig L. Silliman sold 1,558 shares of the firm's stock in a transaction dated Friday, June 3rd. The shares were sold at an average price of $50.94, for a total value of $79,364.52. Following the completion of the sale, the executive vice president now owns 34,961 shares of the company's stock, valued at $1,780,913.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Tami A. Erwin sold 23,647 shares of the firm's stock in a transaction dated Tuesday, April 26th. The stock was sold at an average price of $49.77, for a total transaction of $1,176,911.19. Following the completion of the sale, the chief executive officer now directly owns 21,817 shares of the company's stock, valued at approximately $1,085,832.09. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,763 shares of company stock valued at $1,334,176. 0.02% of the stock is currently owned by company insiders.

About Verizon Communications (Get Rating)

Verizon Communications Inc, through its subsidiaries, offers communications, technology, 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, and other wireless-enabled connected devices comprising smart watches.

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