Verizon Communications Inc. (VZ) Position Reduced by Calvert Investment Management Inc.
Calvert Investment Management Inc. lowered its position in shares of Verizon Communications Inc. (NYSE:VZ) by 28.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 509,426 shares of the cell phone carrier’s stock after selling 200,365 shares during the period. Verizon Communications comprises about 1.5% of Calvert Investment Management Inc.’s portfolio, making the stock its 6th largest position. Calvert Investment Management Inc.’s holdings in Verizon Communications were worth $28,446,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. AMP Capital Investors Ltd increased its stake in Verizon Communications by 10.4% in the first quarter. AMP Capital Investors Ltd now owns 1,752,370 shares of the cell phone carrier’s stock valued at $94,698,000 after buying an additional 164,905 shares in the last quarter. Avalon Advisors LLC increased its stake in Verizon Communications by 49.3% in the first quarter. Avalon Advisors LLC now owns 1,037,516 shares of the cell phone carrier’s stock valued at $56,109,000 after buying an additional 342,424 shares in the last quarter. State Farm Mutual Automobile Insurance Co. increased its stake in Verizon Communications by 1.0% in the first quarter. State Farm Mutual Automobile Insurance Co. now owns 11,321,427 shares of the cell phone carrier’s stock valued at $612,263,000 after buying an additional 115,883 shares in the last quarter. NN Investment Partners Holdings N.V. acquired a new stake in Verizon Communications during the first quarter valued at approximately $56,662,000. Finally, AMF Pensionsforsakring AB increased its stake in Verizon Communications by 6.2% in the first quarter. AMF Pensionsforsakring AB now owns 3,877,936 shares of the cell phone carrier’s stock valued at $209,719,000 after buying an additional 224,753 shares in the last quarter. 63.47% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Verizon Communications Inc. (NYSE:VZ) traded down 0.3649% during mid-day trading on Friday, reaching $50.0766. 5,402,247 shares of the company’s stock traded hands. The company has a 50 day moving average of $52.17 and a 200 day moving average of $52.76. Verizon Communications Inc. has a 12 month low of $43.79 and a 12 month high of $56.95. The company has a market cap of $204.13 billion, a price-to-earnings ratio of 14.1459 and a beta of 0.30.
Verizon Communications (NYSE:VZ) last issued its earnings results on Tuesday, July 26th. The cell phone carrier reported $0.94 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.02. The firm earned $30.53 billion during the quarter, compared to the consensus estimate of $30.95 billion. Verizon Communications had a return on equity of 87.41% and a net margin of 11.10%. The business’s quarterly revenue was down 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.04 earnings per share. Analysts expect that Verizon Communications Inc. will post $3.89 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, October 7th will be paid a dividend of $0.0125 per share. This represents a $0.05 annualized dividend and a yield of 0.10%. The ex-dividend date is Wednesday, October 5th. Verizon Communications’s payout ratio is 65.25%.
Several analysts have commented on VZ shares. Argus reissued a “buy” rating on shares of Verizon Communications in a research report on Sunday, June 12th. RBC Capital Markets reissued a “buy” rating on shares of Verizon Communications in a research report on Monday, July 25th. Vetr restated a “buy” rating on shares of Verizon Communications in a research note on Wednesday, August 10th. Morgan Stanley cut shares of Verizon Communications from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, July 26th. Finally, Barclays PLC restated an “equal weight” rating and issued a $52.00 price objective on shares of Verizon Communications in a research note on Friday, August 26th. Twenty-four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $54.44.
In other news, EVP Craig L. Silliman sold 672 shares of the business’s stock in a transaction dated Monday, September 26th. The stock was sold at an average price of $52.40, for a total transaction of $35,212.80. Following the sale, the executive vice president now directly owns 9,854 shares in the company, valued at $516,349.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.10% of the company’s stock.
About Verizon Communications
Verizon Communications Inc (Verizon) is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. The Company offers voice, data and video services and solutions on its wireless and wireline networks.
Receive News & Ratings for Verizon Communications Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verizon Communications Inc. and related companies with MarketBeat.com's FREE daily email newsletter.