Stellar Capital Management LLC raised its position in shares of Verizon Communications Inc. (NYSE:VZ) by 48.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,788 shares of the cell phone carrier’s stock after buying an additional 3,200 shares during the period. Stellar Capital Management LLC’s holdings in Verizon Communications were worth $469,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently bought and sold shares of VZ. Mackenzie Financial Corp increased its holdings in shares of Verizon Communications by 2,886.8% in the fourth quarter. Mackenzie Financial Corp now owns 11,717,907 shares of the cell phone carrier’s stock valued at $620,229,000 after purchasing an additional 11,325,589 shares in the last quarter. Boston Partners increased its holdings in shares of Verizon Communications by 1,252.0% in the fourth quarter. Boston Partners now owns 7,986,475 shares of the cell phone carrier’s stock valued at $422,724,000 after purchasing an additional 7,395,776 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Verizon Communications by 14.1% in the fourth quarter. Bank of New York Mellon Corp now owns 48,749,993 shares of the cell phone carrier’s stock valued at $2,580,337,000 after purchasing an additional 6,007,544 shares in the last quarter. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Verizon Communications in the fourth quarter valued at approximately $182,955,000. Finally, American Century Companies Inc. increased its holdings in shares of Verizon Communications by 34.2% in the first quarter. American Century Companies Inc. now owns 9,725,699 shares of the cell phone carrier’s stock valued at $465,083,000 after purchasing an additional 2,481,128 shares in the last quarter. 63.72% of the stock is owned by institutional investors.
A number of brokerages recently weighed in on VZ. UBS Group raised shares of Verizon Communications from a “neutral” rating to a “buy” rating in a report on Wednesday, April 25th. Zacks Investment Research lowered shares of Verizon Communications from a “hold” rating to a “sell” rating in a report on Saturday, June 30th. Vetr raised shares of Verizon Communications from a “buy” rating to a “strong-buy” rating and set a $53.82 price target for the company in a report on Tuesday, March 20th. Guggenheim began coverage on shares of Verizon Communications in a report on Tuesday, March 13th. They issued a “buy” rating and a $58.00 price target for the company. Finally, Barclays raised shares of Verizon Communications from an “equal weight” rating to an “overweight” rating and set a $56.00 price target for the company in a report on Monday, April 23rd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eighteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $54.62.
In other Verizon Communications news, SVP Anthony T. Skiadas sold 1,974 shares of Verizon Communications stock in a transaction on Tuesday, May 1st. The shares were sold at an average price of $49.44, for a total transaction of $97,594.56. Following the completion of the sale, the senior vice president now owns 16,060 shares of the company’s stock, valued at approximately $794,006.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.09% of the stock is currently owned by insiders.
VZ opened at $51.28 on Friday. The company has a debt-to-equity ratio of 2.15, a current ratio of 0.98 and a quick ratio of 0.94. Verizon Communications Inc. has a 52 week low of $42.80 and a 52 week high of $54.77. The firm has a market cap of $209.29 billion, a price-to-earnings ratio of 13.71, a price-to-earnings-growth ratio of 1.76 and a beta of 0.65.
Verizon Communications (NYSE:VZ) last released its earnings results on Tuesday, April 24th. The cell phone carrier reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.06. Verizon Communications had a net margin of 24.37% and a return on equity of 42.62%. The firm had revenue of $31.77 billion during the quarter, compared to analyst estimates of $31.25 billion. During the same quarter in the previous year, the business earned $0.95 EPS. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. equities analysts expect that Verizon Communications Inc. will post 4.58 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 1st. Shareholders of record on Tuesday, July 10th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 4.60%. The ex-dividend date is Monday, July 9th. Verizon Communications’s dividend payout ratio is presently 63.10%.
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; multimedia, business-focused, and location-based services, as well as international travel services; and network access services to deliver various Internet of Things products and services.
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