Chicago Equity Partners LLC reduced its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 44.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 235,495 shares of the cell phone carrier’s stock after selling 191,255 shares during the quarter. Chicago Equity Partners LLC’s holdings in Verizon Communications were worth $11,655,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in the company. Empirical Finance LLC acquired a new position in shares of Verizon Communications during the 3rd quarter worth about $212,000. Country Trust Bank boosted its position in shares of Verizon Communications by 23.6% in the 3rd quarter. Country Trust Bank now owns 567,837 shares of the cell phone carrier’s stock valued at $28,102,000 after purchasing an additional 108,297 shares during the period. Lincoln National Corp boosted its position in shares of Verizon Communications by 7.5% in the 3rd quarter. Lincoln National Corp now owns 43,878 shares of the cell phone carrier’s stock valued at $2,171,000 after purchasing an additional 3,050 shares during the period. ST Germain D J Co. Inc. boosted its position in shares of Verizon Communications by 245.7% in the 3rd quarter. ST Germain D J Co. Inc. now owns 118,251 shares of the cell phone carrier’s stock valued at $5,852,000 after purchasing an additional 84,049 shares during the period. Finally, Verity & Verity LLC boosted its position in shares of Verizon Communications by 1.4% in the 3rd quarter. Verity & Verity LLC now owns 121,338 shares of the cell phone carrier’s stock valued at $6,005,000 after purchasing an additional 1,673 shares during the period. 63.21% of the stock is owned by institutional investors and hedge funds.
A number of analysts recently issued reports on the company. KeyCorp upped their target price on Verizon Communications from $50.00 to $53.00 and gave the company a “sector weight” rating in a research report on Tuesday, January 2nd. HSBC cut Verizon Communications from a “buy” rating to a “hold” rating and decreased their target price for the company from $54.83 to $42.80 in a research report on Thursday, December 14th. They noted that the move was a valuation call. Instinet upped their target price on Verizon Communications from $47.00 to $61.00 and gave the company a “buy” rating in a research report on Tuesday, December 12th. Nomura raised Verizon Communications from a “neutral” rating to a “buy” rating and upped their target price for the company from $47.00 to $61.00 in a research report on Tuesday, December 12th. Finally, ValuEngine raised Verizon Communications from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Two equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Verizon Communications has a consensus rating of “Hold” and a consensus price target of $51.98.
In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $47.41, for a total transaction of $28,920.10. Following the completion of the sale, the executive vice president now directly owns 3,269 shares of the company’s stock, valued at approximately $154,983.29. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.13% of the stock is owned by corporate insiders.
Shares of Verizon Communications Inc. (VZ) opened at $51.86 on Friday. The company has a debt-to-equity ratio of 4.05, a quick ratio of 1.02 and a current ratio of 1.07. The company has a market capitalization of $211,560.00, a P/E ratio of 13.30, a price-to-earnings-growth ratio of 4.71 and a beta of 0.57. Verizon Communications Inc. has a one year low of $42.80 and a one year high of $53.69.
Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Thursday, October 19th. The cell phone carrier reported $0.98 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.98. The firm had revenue of $31.70 billion during the quarter, compared to the consensus estimate of $31.45 billion. Verizon Communications had a return on equity of 58.66% and a net margin of 12.80%. The firm’s revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.01 EPS. equities research analysts predict that Verizon Communications Inc. will post 3.77 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 4.55%. The ex-dividend date is Tuesday, January 9th. Verizon Communications’s dividend payout ratio is presently 60.51%.
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Verizon Communications Company Profile
Verizon Communications Inc is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. Its segments include Wireless and Wireline. The Wireless segment offers communications products and services, including wireless voice and data services and equipment sales, to consumer, business and government customers across the United States.
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