Verizon Communications Inc. (NYSE:VZ) is Unigestion Holding SA’s 3rd Largest Position

Unigestion Holding SA reduced its position in Verizon Communications Inc. (NYSE:VZ) by 2.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,569,487 shares of the cell phone carrier’s stock after selling 42,530 shares during the period. Verizon Communications makes up approximately 3.4% of Unigestion Holding SA’s investment portfolio, making the stock its 3rd biggest position. Unigestion Holding SA’s holdings in Verizon Communications were worth $84,768,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of VZ. Lion Street Advisors LLC bought a new position in shares of Verizon Communications during the second quarter worth about $25,000. Anfield Capital Management LLC bought a new position in shares of Verizon Communications during the second quarter worth about $32,000. Vigilant Capital Management LLC lifted its position in shares of Verizon Communications by 313.3% during the second quarter. Vigilant Capital Management LLC now owns 620 shares of the cell phone carrier’s stock worth $35,000 after purchasing an additional 470 shares during the last quarter. Baldrige Asset Management LLC bought a new position in shares of Verizon Communications during the second quarter worth about $37,000. Finally, West Financial Advisors LLC lifted its position in shares of Verizon Communications by 197.6% during the third quarter. West Financial Advisors LLC now owns 753 shares of the cell phone carrier’s stock worth $41,000 after purchasing an additional 500 shares during the last quarter. 63.61% of the stock is owned by institutional investors.

In related news, EVP Craig L. Silliman sold 1,554 shares of Verizon Communications stock in a transaction on Thursday, November 4th. The shares were sold at an average price of $52.91, for a total value of $82,222.14. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold a total of 4,662 shares of company stock worth $252,898 in the last 90 days. 0.10% of the stock is owned by insiders.

Several equities research analysts recently weighed in on the stock. Barclays dropped their price objective on shares of Verizon Communications from $56.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Monday, October 11th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Verizon Communications in a research note on Tuesday, October 19th. They set a “hold” rating and a $55.00 price objective on the stock. Cowen increased their price objective on shares of Verizon Communications from $68.00 to $71.00 and gave the stock an “outperform” rating in a research note on Thursday, October 21st. Loop Capital assumed coverage on shares of Verizon Communications in a research note on Monday, September 20th. They set a “hold” rating and a $57.00 price objective on the stock. Finally, Wells Fargo & Company dropped their price objective on shares of Verizon Communications from $58.00 to $56.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 21st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Verizon Communications has a consensus rating of “Hold” and a consensus target price of $60.00.

Shares of NYSE VZ traded down $0.09 during mid-day trading on Thursday, reaching $51.66. 15,474,541 shares of the company traded hands, compared to its average volume of 17,699,629. Verizon Communications Inc. has a fifty-two week low of $50.65 and a fifty-two week high of $61.95. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.97 and a quick ratio of 0.92. The firm has a market cap of $213.88 billion, a PE ratio of 9.69, a price-to-earnings-growth ratio of 3.06 and a beta of 0.43. The stock has a fifty day simple moving average of $52.94 and a 200-day simple moving average of $55.02.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Tuesday, October 19th. The cell phone carrier reported $1.41 EPS for the quarter, beating the Zacks’ consensus estimate of $1.36 by $0.05. The business had revenue of $32.90 billion for the quarter, compared to analyst estimates of $33.24 billion. Verizon Communications had a net margin of 16.42% and a return on equity of 29.72%. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter last year, the business earned $1.25 earnings per share. As a group, analysts predict that Verizon Communications Inc. will post 5.37 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, November 1st. Stockholders of record on Friday, October 8th were issued a dividend of $0.64 per share. The ex-dividend date of this dividend was Thursday, October 7th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 4.96%. This is an increase from Verizon Communications’s previous quarterly dividend of $0.63. Verizon Communications’s dividend payout ratio (DPR) is currently 48.03%.

Verizon Communications Company Profile

Verizon Communications, Inc is a holding company, which engages in the provision of communications, information, and entertainment products and services to consumers, businesses, and governmental agencies. It operates through the Verizon Consumer Group (Consumer) and Verizon Business Group (Business) segments.

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

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