Livforsakringsbolaget Skandia Omsesidigt trimmed its holdings in shares of Verizon Communications (NYSE:VZ) by 10.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 233,670 shares of the cell phone carrier’s stock after selling 27,100 shares during the quarter. Verizon Communications accounts for about 1.2% of Livforsakringsbolaget Skandia Omsesidigt’s portfolio, making the stock its 11th largest position. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Verizon Communications were worth $12,368,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Capital Research Global Investors lifted its position in shares of Verizon Communications by 15.1% during the 2nd quarter. Capital Research Global Investors now owns 153,408,016 shares of the cell phone carrier’s stock valued at $6,851,202,000 after acquiring an additional 20,070,391 shares during the period. FMR LLC lifted its position in shares of Verizon Communications by 15.0% during the 2nd quarter. FMR LLC now owns 61,833,096 shares of the cell phone carrier’s stock valued at $2,761,466,000 after acquiring an additional 8,077,275 shares during the period. Vanguard Group Inc. lifted its position in shares of Verizon Communications by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 282,894,542 shares of the cell phone carrier’s stock valued at $12,634,070,000 after acquiring an additional 5,837,702 shares during the period. Stifel Financial Corp lifted its position in shares of Verizon Communications by 7,639.8% during the 3rd quarter. Stifel Financial Corp now owns 3,877,541 shares of the cell phone carrier’s stock valued at $191,847,000 after acquiring an additional 3,827,442 shares during the period. Finally, Franklin Resources Inc. lifted its position in shares of Verizon Communications by 19.9% during the 2nd quarter. Franklin Resources Inc. now owns 21,820,729 shares of the cell phone carrier’s stock valued at $974,515,000 after acquiring an additional 3,623,182 shares during the period. 64.00% of the stock is currently owned by hedge funds and other institutional investors.
In other news, SVP Anthony T. Skiadas sold 6,967 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $49.80, for a total value of $346,956.60. Following the sale, the senior vice president now directly owns 16,059 shares of the company’s stock, valued at $799,738.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.09% of the company’s stock.
Several research firms have weighed in on VZ. KeyCorp upped their price objective on shares of Verizon Communications from $50.00 to $53.00 and gave the stock a “sector weight” rating in a report on Tuesday, January 2nd. JPMorgan Chase upped their price objective on shares of Verizon Communications from $52.00 to $58.00 and gave the stock a “neutral” rating in a report on Wednesday, January 24th. SunTrust Banks upped their price objective on shares of Verizon Communications to $58.00 and gave the stock a “hold” rating in a report on Wednesday, January 24th. Macquarie restated a “hold” rating and set a $54.00 price objective on shares of Verizon Communications in a report on Wednesday, January 24th. Finally, Nomura upped their price objective on shares of Verizon Communications from $61.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and twelve have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $54.24.
NYSE VZ traded down $0.76 during trading on Friday, hitting $47.48. 16,071,594 shares of the company’s stock traded hands, compared to its average volume of 13,778,864. The company has a market cap of $195,995.72, a PE ratio of 12.70, a price-to-earnings-growth ratio of 1.93 and a beta of 0.64. Verizon Communications has a 12-month low of $42.80 and a 12-month high of $54.77. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.54.
Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Tuesday, January 23rd. The cell phone carrier reported $0.86 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by ($0.02). The business had revenue of $33.96 billion for the quarter, compared to analysts’ expectations of $33.20 billion. Verizon Communications had a net margin of 23.88% and a return on equity of 48.97%. Verizon Communications’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period last year, the company earned $0.86 earnings per share. equities research analysts anticipate that Verizon Communications will post 4.54 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Shareholders of record on Tuesday, April 10th will be issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 4.97%. The ex-dividend date is Monday, April 9th. Verizon Communications’s dividend payout ratio (DPR) is presently 63.10%.
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Verizon Communications Company 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.
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