DE Burlo Group Inc. Sells 10,300 Shares of Verizon Communications Inc. (VZ)
DE Burlo Group Inc. lowered its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 7.0% during the second quarter, Holdings Channel reports. The institutional investor owned 136,050 shares of the cell phone carrier’s stock after selling 10,300 shares during the period. Verizon Communications comprises 1.8% of DE Burlo Group Inc.’s portfolio, making the stock its 19th largest position. DE Burlo Group Inc.’s holdings in Verizon Communications were worth $7,597,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the stock. AMP Capital Investors Ltd raised its stake in shares of 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 worth $94,698,000 after buying an additional 164,905 shares during the period. Avalon Advisors LLC raised its stake in shares of 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 worth $56,109,000 after buying an additional 342,424 shares during the period. State Farm Mutual Automobile Insurance Co. raised its stake in shares of 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 worth $612,263,000 after buying an additional 115,883 shares during the period. NN Investment Partners Holdings N.V. purchased a new stake in shares of Verizon Communications during the first quarter worth about $56,662,000. Finally, AMF Pensionsforsakring AB raised its stake in shares of 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 worth $209,719,000 after buying an additional 224,753 shares during the period. 63.47% of the stock is currently owned by institutional investors.
Verizon Communications Inc. (NYSE:VZ) traded down 0.68% during trading on Friday, hitting $49.92. 13,816,797 shares of the stock traded hands. The stock has a 50 day moving average price of $52.09 and a 200-day moving average price of $52.74. The stock has a market cap of $203.49 billion, a P/E ratio of 14.10 and a beta of 0.30. Verizon Communications Inc. has a 52-week low of $43.79 and a 52-week high of $56.95.
Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Tuesday, July 26th. The cell phone carrier reported $0.94 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.02. The firm earned $30.53 billion during the quarter, compared to analyst estimates of $30.95 billion. Verizon Communications had a net margin of 11.10% and a return on equity of 87.41%. Verizon Communications’s revenue was down 5.3% on a year-over-year basis. During the same period last year, the firm posted $1.04 EPS. On average, analysts anticipate that Verizon Communications Inc. will post $3.89 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, October 7th will be given a dividend of $0.0125 per share. This represents a $0.05 dividend on an annualized basis and a yield of 0.10%. The ex-dividend date is Wednesday, October 5th. Verizon Communications’s dividend payout ratio is presently 65.25%.
Several equities research analysts have recently commented on the stock. Argus reaffirmed a “buy” rating on shares of Verizon Communications in a research report on Sunday, June 12th. Jefferies Group reaffirmed a “hold” rating on shares of Verizon Communications in a research report on Saturday, August 6th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $52.00 target price (up from $50.00) on shares of Verizon Communications in a research report on Thursday, June 16th. Morgan Stanley raised their target price on shares of Verizon Communications from $59.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, July 28th. Finally, Pacific Crest reaffirmed a “hold” rating on shares of Verizon Communications in a research report on Wednesday, July 27th. Twenty-four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Verizon Communications presently has a consensus rating of “Hold” and an average price target of $54.44.
In other Verizon Communications news, EVP Craig L. Silliman sold 672 shares of the firm’s stock in a transaction that occurred on Monday, September 26th. The shares were sold at an average price of $52.40, for a total transaction of $35,212.80. Following the completion of the transaction, the executive vice president now directly owns 9,854 shares of the company’s stock, valued at approximately $516,349.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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.
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