Verizon Communications Inc. (VZ) Holdings Increased by USS Investment Management Ltd
USS Investment Management Ltd raised its holdings in Verizon Communications Inc. (NYSE:VZ) by 1.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,288,924 shares of the cell phone carrier’s stock after buying an additional 22,300 shares during the quarter. Verizon Communications makes up approximately 1.0% of USS Investment Management Ltd’s holdings, making the stock its 27th largest holding. USS Investment Management Ltd owned 0.06% of Verizon Communications worth $102,258,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also bought and sold shares of the company. Willingdon Wealth Management grew its holdings in shares of Verizon Communications by 29.5% during the 2nd quarter. Willingdon Wealth Management now owns 39,240 shares of the cell phone carrier’s stock worth $1,752,000 after purchasing an additional 8,942 shares during the period. Family Firm Inc. purchased a new stake in shares of Verizon Communications during the 2nd quarter worth about $217,000. Neumann Capital Management LLC grew its holdings in shares of Verizon Communications by 5.4% during the 2nd quarter. Neumann Capital Management LLC now owns 42,437 shares of the cell phone carrier’s stock worth $1,895,000 after purchasing an additional 2,190 shares during the period. Usca Ria LLC grew its holdings in shares of Verizon Communications by 73.9% during the 2nd quarter. Usca Ria LLC now owns 149,142 shares of the cell phone carrier’s stock worth $6,661,000 after purchasing an additional 63,383 shares during the period. Finally, Strategic Financial Group LLC grew its holdings in shares of Verizon Communications by 20.7% during the 2nd quarter. Strategic Financial Group LLC now owns 5,256 shares of the cell phone carrier’s stock worth $235,000 after purchasing an additional 900 shares during the period. Institutional investors own 63.38% of the company’s stock.
In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $47.41, for a total value of $28,920.10. Following the transaction, the executive vice president now directly owns 3,269 shares of the company’s stock, valued at approximately $154,983.29. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders sold 1,830 shares of company stock worth $88,609. 0.13% of the stock is currently owned by corporate insiders.
A number of analysts have recently issued reports on the company. Bank of America set a $52.00 target price on Verizon Communications and gave the stock a “buy” rating in a report on Friday, October 20th. TheStreet upgraded Verizon Communications from a “c+” rating to a “b-” rating in a report on Tuesday, August 8th. Robert W. Baird reissued a “hold” rating and set a $49.00 price target on shares of Verizon Communications in a research report on Wednesday, October 4th. ValuEngine raised Verizon Communications from a “hold” rating to a “buy” rating in a research report on Monday, October 23rd. Finally, KeyCorp reissued a “hold” rating on shares of Verizon Communications in a research report on Saturday, October 21st. Two analysts have rated the stock with a sell rating, nineteen have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $51.25.
Shares of Verizon Communications Inc. (NYSE VZ) traded up $1.08 on Thursday, hitting $49.90. The company’s stock had a trading volume of 31,033,600 shares, compared to its average volume of 15,503,026. Verizon Communications Inc. has a one year low of $42.80 and a one year high of $54.83. The firm has a market cap of $199,158.30, a price-to-earnings ratio of 13.02, a price-to-earnings-growth ratio of 4.58 and a beta of 0.55. The company has a debt-to-equity ratio of 4.05, a quick ratio of 1.02 and a current ratio of 1.07.
Verizon Communications (NYSE:VZ) last announced its earnings results on Thursday, October 19th. The cell phone carrier reported $0.98 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.98. Verizon Communications had a return on equity of 58.66% and a net margin of 12.80%. The company had revenue of $31.70 billion for the quarter, compared to analyst estimates of $31.45 billion. During the same period in the prior year, the company posted $1.01 EPS. Verizon Communications’s quarterly revenue was up 2.5% on a year-over-year basis. analysts anticipate that Verizon Communications Inc. will post 3.77 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.73%. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Friday, October 6th. Verizon Communications’s dividend payout ratio is presently 60.51%.
Verizon Communications Company 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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