Verizon Communications Inc. (VZ) Stake Lessened by Rothschild Asset Management Inc.
Rothschild Asset Management Inc. lowered its position in shares of Verizon Communications Inc. (NYSE:VZ) by 80.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 270,744 shares of the cell phone carrier’s stock after selling 1,084,343 shares during the quarter. Rothschild Asset Management Inc.’s holdings in Verizon Communications were worth $12,092,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in VZ. Franklin Parlapiano Turner & Welch LLC acquired a new stake in shares of Verizon Communications during the first quarter valued at approximately $136,000. American Beacon Advisors Inc. acquired a new stake in shares of Verizon Communications during the first quarter valued at approximately $140,000. Proficio Capital Partners LLC raised its holdings in shares of Verizon Communications by 139.8% during the first quarter. Proficio Capital Partners LLC now owns 3,158 shares of the cell phone carrier’s stock valued at $142,000 after acquiring an additional 1,841 shares during the period. Camarda Financial Advisors LLC raised its holdings in shares of Verizon Communications by 11.3% during the second quarter. Camarda Financial Advisors LLC now owns 3,749 shares of the cell phone carrier’s stock valued at $167,000 after acquiring an additional 382 shares during the period. Finally, Asset Advisors Corp raised its holdings in shares of Verizon Communications by 2.5% during the second quarter. Asset Advisors Corp now owns 4,085 shares of the cell phone carrier’s stock valued at $182,000 after acquiring an additional 100 shares during the period. Institutional investors and hedge funds own 62.22% of the company’s stock.
A number of research analysts recently commented on VZ shares. Robert W. Baird reaffirmed a “hold” rating and set a $49.00 price objective on shares of Verizon Communications in a research report on Wednesday, October 4th. KeyCorp reaffirmed a “hold” rating on shares of Verizon Communications in a research report on Wednesday, October 11th. BidaskClub raised shares of Verizon Communications from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. TheStreet raised shares of Verizon Communications from a “c+” rating to a “b-” rating in a research report on Tuesday, August 8th. Finally, Cowen and Company reaffirmed a “hold” rating and set a $52.00 price objective on shares of Verizon Communications in a research report on Tuesday, September 19th. Two analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $52.86.
In related news, EVP Craig L. Silliman sold 610 shares of the firm’s stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $49.23, for a total value of $30,030.30. Following the completion of the transaction, the executive vice president now directly owns 6,599 shares of the company’s stock, valued at $324,868.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 1,830 shares of company stock valued at $88,828 over the last three months. 0.13% of the stock is owned by company insiders.
Shares of Verizon Communications Inc. (VZ) opened at 48.09 on Tuesday. The stock has a 50 day moving average of $48.46 and a 200-day moving average of $47.01. Verizon Communications Inc. has a 52 week low of $42.80 and a 52 week high of $54.83. The firm has a market capitalization of $196.18 billion, a PE ratio of 12.36 and a beta of 0.56.
Verizon Communications (NYSE:VZ) last released its earnings results on Thursday, July 27th. The cell phone carrier reported $0.96 earnings per share for the quarter, meeting the consensus estimate of $0.96. Verizon Communications had a net margin of 12.88% and a return on equity of 63.06%. The business had revenue of $30.55 billion during the quarter, compared to analysts’ expectations of $29.84 billion. During the same period last year, the business earned $0.94 earnings per share. The firm’s revenue was up .1% on a year-over-year basis. Equities analysts anticipate that Verizon Communications Inc. will post $3.76 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Friday, October 6th. This is a boost from Verizon Communications’s previous quarterly dividend of $0.58. This represents a $2.36 annualized dividend and a dividend yield of 4.91%. Verizon Communications’s dividend payout ratio (DPR) is currently 60.51%.
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Verizon Communications Profile
Verizon Communications Inc is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. Its segments include Wireless and Wireline. The Wireless segment offers communications products and services, including wireless voice and data services and equipment sales, to consumer, business and government customers across the United States.
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