Mackenzie Financial Corp Has $19.42 Million Holdings in Verizon Communications Inc. (VZ)

Mackenzie Financial Corp cut its position in Verizon Communications Inc. (NYSE:VZ) by 7.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 392,318 shares of the cell phone carrier’s stock after selling 32,878 shares during the period. Mackenzie Financial Corp’s holdings in Verizon Communications were worth $19,416,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vantage Financial Partners Ltd. Inc. acquired a new stake in Verizon Communications in the second quarter worth $623,000. Shine Investment Advisory Services Inc. raised its holdings in Verizon Communications by 190.9% in the third quarter. Shine Investment Advisory Services Inc. now owns 2,705 shares of the cell phone carrier’s stock worth $134,000 after purchasing an additional 1,775 shares during the period. Legacy Advisors LLC acquired a new stake in Verizon Communications in the third quarter worth $132,000. Mountain Capital Investment Advisors Inc bought a new stake in shares of Verizon Communications during the second quarter worth $156,000. Finally, Regal Wealth Group Inc. increased its position in shares of Verizon Communications by 0.7% during the second quarter. Regal Wealth Group Inc. now owns 3,682 shares of the cell phone carrier’s stock worth $164,000 after acquiring an additional 24 shares in the last quarter. Institutional investors own 64.21% of the company’s stock.

In related news, SVP Anthony T. Skiadas sold 6,967 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $49.80, for a total value of $346,956.60. Following the completion of the transaction, the senior vice president now owns 16,059 shares of the company’s stock, valued at $799,738.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Craig L. Silliman sold 610 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 3,269 shares of the company’s stock, valued at approximately $154,983.29. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by company insiders.

Several brokerages have recently issued reports on VZ. Zacks Investment Research raised shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a research report on Tuesday, February 13th. Vetr raised shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $54.80 price objective for the company in a research report on Monday, February 5th. Nomura increased their price objective on shares of Verizon Communications from $61.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. JPMorgan Chase & Co. increased their price objective on shares of Verizon Communications from $52.00 to $58.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 24th. Finally, Bank of America increased their price objective on shares of Verizon Communications from $55.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and ten have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $53.51.

Verizon Communications Inc. (VZ) opened at $50.15 on Tuesday. The firm has a market cap of $204,580.00, a price-to-earnings ratio of 15.38, a P/E/G ratio of 2.04 and a beta of 0.58. Verizon Communications Inc. has a 12-month low of $42.80 and a 12-month high of $54.77. The company has a debt-to-equity ratio of 2.54, a current ratio of 0.91 and a quick ratio of 0.87.

Verizon Communications (NYSE:VZ) last released its earnings results on Tuesday, January 23rd. The cell phone carrier reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.02). The business had revenue of $33.96 billion during the quarter, compared to the consensus estimate of $33.20 billion. Verizon Communications had a net margin of 23.88% and a return on equity of 48.97%. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period last year, the business posted $0.86 EPS. equities analysts forecast that Verizon Communications Inc. will post 4.54 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 1st. Investors of record on Wednesday, January 10th were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 4.71%. The ex-dividend date was Tuesday, January 9th. Verizon Communications’s dividend payout ratio (DPR) is currently 72.39%.

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

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