Tredje AP fonden increased its position in Verizon Communications Inc. (NYSE:VZ – Get Rating) by 22.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 380,037 shares of the cell phone carrier’s stock after purchasing an additional 69,000 shares during the period. Tredje AP fonden’s holdings in Verizon Communications were worth $19,359,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Summit Asset Management LLC raised its position in Verizon Communications by 4.8% in the 1st quarter. Summit Asset Management LLC now owns 16,116 shares of the cell phone carrier’s stock worth $821,000 after buying an additional 731 shares during the last quarter. Tectonic Advisors LLC raised its position in Verizon Communications by 59.4% in the 1st quarter. Tectonic Advisors LLC now owns 101,611 shares of the cell phone carrier’s stock worth $5,176,000 after buying an additional 37,875 shares during the last quarter. Proffitt & Goodson Inc. raised its position in Verizon Communications by 7.4% in the 1st quarter. Proffitt & Goodson Inc. now owns 10,062 shares of the cell phone carrier’s stock worth $513,000 after buying an additional 690 shares during the last quarter. Novare Capital Management LLC raised its position in Verizon Communications by 5.1% in the 1st quarter. Novare Capital Management LLC now owns 143,278 shares of the cell phone carrier’s stock worth $7,299,000 after buying an additional 6,913 shares during the last quarter. Finally, Marble Harbor Investment Counsel LLC raised its position in Verizon Communications by 17.8% in the 1st quarter. Marble Harbor Investment Counsel LLC now owns 12,091 shares of the cell phone carrier’s stock worth $616,000 after buying an additional 1,826 shares during the last quarter. Institutional investors own 63.78% of the company’s stock.
Insider Activity at Verizon Communications
In related news, EVP Craig L. Silliman sold 1,558 shares of the stock in a transaction on Friday, June 3rd. The stock was sold at an average price of $50.94, for a total transaction of $79,364.52. Following the sale, the executive vice president now owns 34,961 shares in the company, valued at approximately $1,780,913.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders have sold 4,674 shares of company stock worth $237,377. Company insiders own 0.10% of the company’s stock.
Analysts Set New Price Targets
Verizon Communications Stock Up 1.2 %
NYSE VZ opened at $44.95 on Friday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.69 and a current ratio of 0.76. The company has a market capitalization of $188.78 billion, a P/E ratio of 9.01, a P/E/G ratio of 2.16 and a beta of 0.33. Verizon Communications Inc. has a one year low of $43.76 and a one year high of $56.20. The stock has a 50 day moving average price of $49.40 and a 200-day moving average price of $51.01.
Verizon Communications (NYSE:VZ – Get Rating) last posted its earnings results on Friday, July 22nd. The cell phone carrier reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). The firm had revenue of $33.79 billion for the quarter, compared to the consensus estimate of $33.77 billion. Verizon Communications had a net margin of 15.48% and a return on equity of 26.95%. The firm’s revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.37 earnings per share. As a group, equities analysts predict that Verizon Communications Inc. will post 5.2 EPS for the current fiscal year.
Verizon Communications Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, August 1st. Investors of record on Friday, July 8th were issued a dividend of $0.64 per share. The ex-dividend date of this dividend was Thursday, July 7th. This represents a $2.56 annualized dividend and a yield of 5.70%. Verizon Communications’s payout ratio is presently 51.30%.
Verizon Communications Company Profile
Verizon Communications Inc, through its subsidiaries, offers communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. Its Consumer segment provides postpaid and prepaid service plans; internet access on notebook computers and tablets; wireless equipment, including smartphones and other handsets; and wireless-enabled internet devices, such as tablets, and other wireless-enabled connected devices comprising smart watches.
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