Verizon Communications Inc. (NYSE:VZ) Holdings Trimmed by Nicholas Hoffman & Company LLC.

Nicholas Hoffman & Company LLC. lowered its position in shares of Verizon Communications Inc. (NYSE:VZ) by 0.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 57,383 shares of the cell phone carrier’s stock after selling 298 shares during the quarter. Nicholas Hoffman & Company LLC.’s holdings in Verizon Communications were worth $2,366,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Meridian Wealth Advisors LLC boosted its stake in Verizon Communications by 10.6% during the second quarter. Meridian Wealth Advisors LLC now owns 8,961 shares of the cell phone carrier’s stock valued at $370,000 after buying an additional 861 shares in the last quarter. Impact Partnership Wealth LLC lifted its holdings in shares of Verizon Communications by 23.4% during the second quarter. Impact Partnership Wealth LLC now owns 26,820 shares of the cell phone carrier’s stock valued at $1,106,000 after purchasing an additional 5,079 shares during the last quarter. Deseret Mutual Benefit Administrators lifted its holdings in shares of Verizon Communications by 7.2% during the second quarter. Deseret Mutual Benefit Administrators now owns 30,772 shares of the cell phone carrier’s stock valued at $1,269,000 after purchasing an additional 2,064 shares during the last quarter. Range Financial Group LLC lifted its holdings in shares of Verizon Communications by 4.9% during the second quarter. Range Financial Group LLC now owns 56,249 shares of the cell phone carrier’s stock valued at $2,320,000 after purchasing an additional 2,610 shares during the last quarter. Finally, Gries Financial LLC lifted its holdings in shares of Verizon Communications by 16.8% during the second quarter. Gries Financial LLC now owns 60,600 shares of the cell phone carrier’s stock valued at $2,499,000 after purchasing an additional 8,714 shares during the last quarter. Institutional investors own 62.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on VZ shares. The Goldman Sachs Group started coverage on Verizon Communications in a report on Monday, July 1st. They set a “buy” rating and a $50.00 target price for the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $42.00 price objective on shares of Verizon Communications in a research note on Tuesday, July 23rd. JPMorgan Chase & Co. reduced their price objective on Verizon Communications from $46.00 to $45.00 and set a “neutral” rating for the company in a research note on Tuesday, July 23rd. TD Cowen increased their price objective on Verizon Communications from $48.00 to $51.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Finally, Scotiabank increased their price objective on Verizon Communications from $45.50 to $46.50 and gave the stock a “sector perform” rating in a research note on Wednesday, July 10th. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Verizon Communications currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.78.

Verizon Communications Trading Down 0.5 %

NYSE:VZ traded down $0.21 on Thursday, reaching $41.27. The company’s stock had a trading volume of 8,736,842 shares, compared to its average volume of 18,392,648. Verizon Communications Inc. has a 1-year low of $30.14 and a 1-year high of $43.42. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.60 and a current ratio of 0.63. The firm has a market cap of $173.72 billion, a PE ratio of 15.46, a PEG ratio of 3.81 and a beta of 0.41. The business’s 50-day moving average price is $40.92 and its two-hundred day moving average price is $40.52.

Verizon Communications (NYSE:VZ) last posted its earnings results on Monday, July 22nd. The cell phone carrier reported $1.15 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.15. Verizon Communications had a return on equity of 20.10% and a net margin of 8.38%. The firm had revenue of $32.80 billion during the quarter, compared to analysts’ expectations of $33.05 billion. During the same period in the previous year, the firm earned $1.21 earnings per share. The company’s revenue was up .6% on a year-over-year basis. Equities research analysts anticipate that Verizon Communications Inc. will post 4.57 earnings per share for the current fiscal year.

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).