Verizon Communications (NYSE:VZ) Stake Raised by CAPROCK Group Inc.

CAPROCK Group Inc. lifted its position in Verizon Communications (NYSE:VZ) by 19.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 45,080 shares of the cell phone carrier’s stock after acquiring an additional 7,364 shares during the period. CAPROCK Group Inc.’s holdings in Verizon Communications were worth $2,364,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Beach Investment Management LLC. purchased a new position in Verizon Communications during the second quarter valued at $4,320,000. Douglass Winthrop Advisors LLC lifted its position in shares of Verizon Communications by 3.0% in the second quarter. Douglass Winthrop Advisors LLC now owns 74,347 shares of the cell phone carrier’s stock valued at $3,320,000 after acquiring an additional 2,198 shares in the last quarter. KBC Group NV lifted its position in shares of Verizon Communications by 55.2% in the second quarter. KBC Group NV now owns 719,656 shares of the cell phone carrier’s stock valued at $32,140,000 after acquiring an additional 256,108 shares in the last quarter. Nippon Life Insurance Co. lifted its position in shares of Verizon Communications by 0.6% in the second quarter. Nippon Life Insurance Co. now owns 1,213,569 shares of the cell phone carrier’s stock valued at $54,198,000 after acquiring an additional 7,637 shares in the last quarter. Finally, Loudon Investment Management LLC lifted its position in shares of Verizon Communications by 5.4% in the second quarter. Loudon Investment Management LLC now owns 8,211 shares of the cell phone carrier’s stock valued at $367,000 after acquiring an additional 424 shares in the last quarter. 64.00% of the stock is owned by hedge funds and other institutional investors.

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Shares of NYSE VZ traded down $0.76 during trading hours on Friday, reaching $47.48. The stock had a trading volume of 16,071,594 shares, compared to its average volume of 13,778,864. The company has a debt-to-equity ratio of 2.54, a quick ratio of 0.87 and a current ratio of 0.91. The firm has a market capitalization of $195,995.72, a price-to-earnings ratio of 12.70, a PEG ratio of 1.93 and a beta of 0.64. Verizon Communications has a 52-week low of $42.80 and a 52-week high of $54.77.

Verizon Communications (NYSE:VZ) last posted 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 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 firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.86 EPS. analysts forecast that Verizon Communications will post 4.54 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Tuesday, April 10th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.97%. The ex-dividend date of this dividend is Monday, April 9th. Verizon Communications’s payout ratio is presently 63.10%.

In related news, SVP Anthony T. Skiadas sold 6,967 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $49.80, for a total value of $346,956.60. Following the transaction, the senior vice president now directly owns 16,059 shares of the company’s stock, valued at approximately $799,738.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.09% of the company’s stock.

Several brokerages have recently commented on VZ. KeyCorp boosted their price objective on Verizon Communications from $50.00 to $53.00 and gave the company a “sector weight” rating in a research report on Tuesday, January 2nd. JPMorgan Chase lifted their target price on Verizon Communications from $52.00 to $58.00 and gave the stock a “neutral” rating in a report on Wednesday, January 24th. SunTrust Banks lifted their target price on Verizon Communications to $58.00 and gave the stock a “hold” rating in a report on Wednesday, January 24th. Macquarie reaffirmed a “hold” rating and issued a $54.00 target price on shares of Verizon Communications in a report on Wednesday, January 24th. Finally, Nomura boosted their price objective on Verizon Communications from $61.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and twelve have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $54.24.

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Verizon Communications Profile

Verizon Communications Inc, through its subsidiaries, offers communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company's Wireless segment provides wireless voice and data services; Internet access on various notebook computers and tablets; multimedia, business-focused, and location-based services, as well as international travel services; and network access services to deliver various Internet of Things products and services.

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

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