Daiwa Securities Group Inc. increased its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 4.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 136,365 shares of the cell phone carrier’s stock after buying an additional 5,677 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Verizon Communications were worth $6,748,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the stock. Oakmont Partners LLC raised its stake in shares of Verizon Communications by 0.3% in the 2nd quarter. Oakmont Partners LLC now owns 6,391 shares of the cell phone carrier’s stock valued at $285,000 after purchasing an additional 22 shares during the period. Regal Wealth Group Inc. raised its stake 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 period. Glassman Wealth Services raised its stake in shares of Verizon Communications by 0.4% in the 2nd quarter. Glassman Wealth Services now owns 7,719 shares of the cell phone carrier’s stock valued at $345,000 after purchasing an additional 31 shares during the period. Nottingham Advisors Inc. raised its stake in shares of Verizon Communications by 0.5% in the 2nd quarter. Nottingham Advisors Inc. now owns 6,425 shares of the cell phone carrier’s stock valued at $287,000 after purchasing an additional 35 shares during the period. Finally, Camden National Bank raised its stake in shares of Verizon Communications by 0.7% in the 2nd quarter. Camden National Bank now owns 4,972 shares of the cell phone carrier’s stock valued at $222,000 after purchasing an additional 37 shares during the period. 63.22% of the stock is currently owned by institutional investors and hedge funds.
Verizon Communications Inc. (VZ) opened at $51.72 on Thursday. Verizon Communications Inc. has a 1-year low of $42.80 and a 1-year high of $53.69. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 4.05. The company has a market capitalization of $210,990.00, a PE ratio of 13.26, a P/E/G ratio of 4.68 and a beta of 0.57.
Verizon Communications (NYSE:VZ) last posted its quarterly 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 return on equity of 58.66% and a net margin of 12.80%. The business had revenue of $31.70 billion during the quarter, compared to analysts’ expectations of $31.45 billion. During the same quarter last year, the company posted $1.01 earnings per share. Verizon Communications’s quarterly revenue was up 2.5% on a year-over-year basis. analysts forecast that Verizon Communications Inc. will post 3.77 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Wednesday, January 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 4.56%. The ex-dividend date of this dividend is Tuesday, January 9th. Verizon Communications’s payout ratio is currently 60.51%.
Several equities analysts have recently weighed in on VZ shares. Robert W. Baird restated a “hold” rating and issued a $49.00 price objective on shares of Verizon Communications in a report on Wednesday, October 4th. KeyCorp restated a “hold” rating on shares of Verizon Communications in a report on Wednesday, October 11th. Moffett Nathanson restated a “buy” rating on shares of Verizon Communications in a report on Thursday, October 12th. SunTrust Banks restated a “hold” rating and issued a $50.00 price objective on shares of Verizon Communications in a report on Friday, October 20th. Finally, Bank of America set a $52.00 price objective on Verizon Communications and gave the company a “buy” rating in a report on Friday, October 20th. Two analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $51.98.
In related news, EVP Craig L. Silliman sold 610 shares of Verizon Communications stock in a transaction dated 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 transaction, the executive vice president now owns 3,269 shares in the company, valued at $154,983.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.13% of the company’s stock.
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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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