Verizon Communications Inc. (VZ) Position Held by Brookfield Asset Management Inc.
Brookfield Asset Management Inc. held its stake in shares of Verizon Communications Inc. (NYSE:VZ) during the third quarter, Holdings Channel reports. The firm owned 7,500 shares of the cell phone carrier’s stock at the end of the third quarter. Brookfield Asset Management Inc.’s holdings in Verizon Communications were worth $390,000 as of its most recent filing with the SEC.
A number of other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Verizon Communications by 2.7% in the second quarter. Vanguard Group Inc. now owns 256,735,733 shares of the cell phone carrier’s stock worth $14,336,123,000 after buying an additional 6,630,874 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Verizon Communications by 19.9% in the third quarter. Price T Rowe Associates Inc. MD now owns 29,966,112 shares of the cell phone carrier’s stock worth $1,557,638,000 after buying an additional 4,982,419 shares during the last quarter. Nordea Investment Management AB boosted its stake in Verizon Communications by 20.0% in the third quarter. Nordea Investment Management AB now owns 23,807,665 shares of the cell phone carrier’s stock worth $1,237,522,000 after buying an additional 3,960,191 shares during the last quarter. PGGM Investments boosted its stake in Verizon Communications by 78.1% in the third quarter. PGGM Investments now owns 6,914,239 shares of the cell phone carrier’s stock worth $359,402,000 after buying an additional 3,032,162 shares during the last quarter. Finally, Two Sigma Advisers LP boosted its stake in Verizon Communications by 524.2% in the third quarter. Two Sigma Advisers LP now owns 3,109,831 shares of the cell phone carrier’s stock worth $161,649,000 after buying an additional 2,611,652 shares during the last quarter. Institutional investors and hedge funds own 63.38% of the company’s stock.
Shares of Verizon Communications Inc. (NYSE:VZ) opened at 48.46 on Friday. The company has a market capitalization of $197.57 billion, a P/E ratio of 15.10 and a beta of 0.43. Verizon Communications Inc. has a 12 month low of $46.01 and a 12 month high of $56.95. The stock’s 50 day moving average is $50.81 and its 200 day moving average is $51.00.
Verizon Communications (NYSE:VZ) last released its earnings results on Tuesday, January 24th. The cell phone carrier reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.89 by $0.03. The company had revenue of $32.30 billion for the quarter, compared to analysts’ expectations of $32.12 billion. Verizon Communications had a return on equity of 72.75% and a net margin of 10.42%. The firm’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.89 EPS. On average, equities analysts predict that Verizon Communications Inc. will post $3.86 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, February 1st. Shareholders of record on Tuesday, January 10th were given a dividend of $0.5775 per share. This represents a $2.31 annualized dividend and a yield of 4.77%. The ex-dividend date was Friday, January 6th. This is an increase from Verizon Communications’s previous quarterly dividend of $0.01. Verizon Communications’s payout ratio is currently 71.74%.
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A number of research firms have recently commented on VZ. Vetr cut shares of Verizon Communications from a “buy” rating to a “hold” rating and set a $52.38 price target on the stock. in a report on Monday, January 2nd. Citigroup Inc. upgraded shares of Verizon Communications from a “neutral” rating to a “buy” rating and increased their price target for the company from $52.25 to $53.38 in a report on Tuesday, January 3rd. Drexel Hamilton cut shares of Verizon Communications from a “buy” rating to a “hold” rating in a report on Friday, January 6th. Wells Fargo & Company cut shares of Verizon Communications from an “outperform” rating to a “market perform” rating and cut their price target for the company from $56.95 to $54.00 in a report on Monday, January 23rd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Verizon Communications in a report on Monday, January 23rd. One equities research analyst has rated the stock with a sell rating, twenty-six have assigned a hold rating and seven have assigned a buy rating to the company. Verizon Communications presently has an average rating of “Hold” and an average price target of $54.49.
In other Verizon Communications news, SVP Anthony T. Skiadas sold 12,495 shares of the business’s stock in a transaction that occurred on Tuesday, February 14th. The shares were sold at an average price of $48.27, for a total transaction of $603,133.65. Following the sale, the senior vice president now owns 16,058 shares of the company’s stock, valued at approximately $775,119.66. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Craig L. Silliman sold 668 shares of the business’s stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $49.29, for a total transaction of $32,925.72. Following the sale, the executive vice president now directly owns 6,047 shares in the company, valued at approximately $298,056.63. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by insiders.
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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