AMP Capital Investors Ltd trimmed its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 1.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,446,023 shares of the cell phone carrier’s stock after selling 15,409 shares during the quarter. AMP Capital Investors Ltd’s holdings in Verizon Communications were worth $71,563,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently bought and sold shares of the business. Legacy Advisors LLC purchased a new position in shares of Verizon Communications during the 3rd quarter worth approximately $132,000. Shine Investment Advisory Services Inc. raised its stake in shares of Verizon Communications by 190.9% during the 3rd quarter. Shine Investment Advisory Services Inc. now owns 2,705 shares of the cell phone carrier’s stock worth $134,000 after buying an additional 1,775 shares in the last quarter. Private Vista LLC raised its stake in shares of Verizon Communications by 3,339.1% during the 2nd quarter. Private Vista LLC now owns 389,552 shares of the cell phone carrier’s stock worth $143,000 after buying an additional 378,225 shares in the last quarter. Mountain Capital Investment Advisors Inc purchased a new position in shares of Verizon Communications during the 2nd quarter worth approximately $156,000. Finally, Regal Wealth Group Inc. raised its stake in shares of Verizon Communications by 0.7% during the 2nd quarter. Regal Wealth Group Inc. now owns 3,682 shares of the cell phone carrier’s stock worth $164,000 after buying an additional 24 shares in the last quarter. 64.21% of the stock is owned by institutional investors.
In other Verizon Communications news, SVP Anthony T. Skiadas sold 6,967 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $49.80, for a total transaction 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Craig L. Silliman sold 610 shares of the firm’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $47.41, for a total value of $28,920.10. Following 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. Company insiders own 0.13% of the company’s stock.
Verizon Communications Inc. (NYSE:VZ) opened at $47.87 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.54. The firm has a market capitalization of $195,280.00, a price-to-earnings ratio of 14.68, a price-to-earnings-growth ratio of 1.99 and a beta of 0.58. Verizon Communications Inc. has a 1 year low of $42.80 and a 1 year high of $54.77.
Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Tuesday, January 23rd. The cell phone carrier reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.02). The company had revenue of $33.96 billion for the quarter, compared to analysts’ expectations of $33.20 billion. Verizon Communications had a return on equity of 48.97% and a net margin of 23.88%. The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.86 EPS. sell-side analysts forecast that Verizon Communications Inc. will post 4.54 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 4.93%. The ex-dividend date was Tuesday, January 9th. Verizon Communications’s payout ratio is 72.39%.
VZ has been the subject of a number of analyst reports. Wells Fargo & Co raised Verizon Communications from a “market perform” rating to an “outperform” rating and set a $50.00 target price for the company in a research note on Monday, November 20th. ValuEngine raised Verizon Communications from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Nomura raised Verizon Communications from a “neutral” rating to a “buy” rating and raised their price objective for the company from $47.00 to $61.00 in a research note on Tuesday, December 12th. Instinet raised their price objective on Verizon Communications from $47.00 to $61.00 and gave the company a “buy” rating in a research note on Tuesday, December 12th. Finally, HSBC downgraded Verizon Communications from a “buy” rating to a “hold” rating and dropped their price objective for the company from $54.83 to $42.80 in a research note on Thursday, December 14th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $53.48.
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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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