Aperio Group LLC increased its position in shares of Verizon Communications Inc. (NYSE:VZ) by 5.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,498,406 shares of the cell phone carrier’s stock after purchasing an additional 82,983 shares during the period. Aperio Group LLC’s holdings in Verizon Communications were worth $74,156,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Private Vista LLC boosted its position in Verizon Communications by 3,339.1% during the second quarter. Private Vista LLC now owns 389,552 shares of the cell phone carrier’s stock worth $143,000 after acquiring an additional 378,225 shares during the last quarter. Mountain Capital Investment Advisors Inc acquired a new position in shares of Verizon Communications in the 2nd quarter valued at $156,000. Regal Wealth Group Inc. boosted its holdings in shares of Verizon Communications by 0.7% in the 2nd quarter. Regal Wealth Group Inc. now owns 3,682 shares of the cell phone carrier’s stock valued at $164,000 after purchasing an additional 24 shares during the last quarter. Camarda Financial Advisors LLC boosted its holdings in shares of Verizon Communications by 11.3% in the 2nd quarter. Camarda Financial Advisors LLC now owns 3,749 shares of the cell phone carrier’s stock valued at $167,000 after purchasing an additional 382 shares during the last quarter. Finally, Atlantic Trust LLC boosted its holdings in shares of Verizon Communications by 9.9% in the 2nd quarter. Atlantic Trust LLC now owns 11,164 shares of the cell phone carrier’s stock valued at $170,000 after purchasing an additional 1,005 shares during the last quarter. 63.21% of the stock is owned by institutional investors.
In related news, EVP Craig L. Silliman sold 610 shares of the business’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $47.41, for a total transaction of $28,920.10. Following the transaction, the executive vice president now directly owns 3,269 shares of the company’s stock, valued at $154,983.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.13% of the stock is owned by insiders.
A number of equities analysts have weighed in on the stock. KeyCorp raised their target price on shares of Verizon Communications from $50.00 to $53.00 and gave the company a “sector weight” rating in a research note on Tuesday, January 2nd. HSBC downgraded shares of Verizon Communications from a “buy” rating to a “hold” rating and dropped their price target for the stock from $54.83 to $42.80 in a research note on Thursday, December 14th. They noted that the move was a valuation call. Instinet lifted their price target on shares of Verizon Communications from $47.00 to $61.00 and gave the stock a “buy” rating in a research note on Tuesday, December 12th. Nomura raised shares of Verizon Communications from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $47.00 to $61.00 in a research note on Tuesday, December 12th. Finally, ValuEngine raised shares of Verizon Communications from a “hold” rating to a “buy” rating in a research note 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 given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $51.98.
Verizon Communications Inc. (NYSE 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 stock has a market cap of $211,560.00, a PE 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 released its earnings results on Thursday, October 19th. The cell phone carrier reported $0.98 EPS for the quarter, hitting analysts’ consensus estimates of $0.98. Verizon Communications had a net margin of 12.80% and a return on equity of 58.66%. The business had revenue of $31.70 billion for the quarter, compared to the consensus estimate of $31.45 billion. During the same period in the previous year, the firm earned $1.01 EPS. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. equities research analysts predict that Verizon Communications Inc. will post 3.77 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th will be issued a dividend of $0.59 per share. The ex-dividend date is Tuesday, January 9th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.55%. Verizon Communications’s dividend payout ratio is currently 60.51%.
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Verizon Communications 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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