Investment House LLC Increases Position in Verizon Communications Inc. (NYSE:VZ)
Investment House LLC increased its stake in Verizon Communications Inc. (NYSE:VZ) by 0.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 122,577 shares of the cell phone carrier’s stock after purchasing an additional 1,083 shares during the quarter. Investment House LLC’s holdings in Verizon Communications were worth $7,201,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in VZ. Swiss National Bank boosted its stake in shares of Verizon Communications by 0.4% during the 3rd quarter. Swiss National Bank now owns 18,828,451 shares of the cell phone carrier’s stock worth $1,120,105,000 after purchasing an additional 69,000 shares during the last quarter. UBS Asset Management Americas Inc. lifted its holdings in shares of Verizon Communications by 5.4% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 18,225,458 shares of the cell phone carrier’s stock worth $1,084,232,000 after acquiring an additional 937,809 shares during the period. Sanders Capital LLC lifted its holdings in shares of Verizon Communications by 2.3% during the 3rd quarter. Sanders Capital LLC now owns 14,455,698 shares of the cell phone carrier’s stock worth $953,857,000 after acquiring an additional 330,979 shares during the period. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Verizon Communications by 17.7% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 6,512,741 shares of the cell phone carrier’s stock worth $387,442,000 after acquiring an additional 979,394 shares during the period. Finally, Two Sigma Advisers LP lifted its holdings in shares of Verizon Communications by 19.2% during the 2nd quarter. Two Sigma Advisers LP now owns 6,169,963 shares of the cell phone carrier’s stock worth $340,150,000 after acquiring an additional 994,400 shares during the period. Institutional investors and hedge funds own 64.85% of the company’s stock.
Several research analysts recently commented on VZ shares. Wolfe Research started coverage on shares of Verizon Communications in a report on Monday, October 19th. They issued a “peer perform” rating and a $62.00 price target on the stock. BidaskClub lowered shares of Verizon Communications from a “sell” rating to a “strong sell” rating in a report on Wednesday, December 30th. JPMorgan Chase & Co. upgraded shares of Verizon Communications from a “neutral” rating to an “overweight” rating and raised their price target for the company from $61.00 to $65.00 in a report on Thursday, November 5th. Tigress Financial restated a “hold” rating on shares of Verizon Communications in a report on Sunday, November 1st. Finally, Wells Fargo & Company started coverage on shares of Verizon Communications in a report on Monday, November 16th. They issued an “equal weight” rating and a $60.00 price target on the stock. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $62.00.
Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Wednesday, October 21st. The cell phone carrier reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.03. Verizon Communications had a net margin of 14.76% and a return on equity of 32.15%. The business had revenue of $31.50 billion during the quarter, compared to the consensus estimate of $31.60 billion. During the same quarter last year, the company earned $1.25 earnings per share. The business’s quarterly revenue was down 4.2% compared to the same quarter last year. On average, research analysts predict that Verizon Communications Inc. will post 4.77 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, February 1st. Stockholders of record on Friday, January 8th will be given a dividend of $0.6275 per share. This represents a $2.51 dividend on an annualized basis and a dividend yield of 4.40%. The ex-dividend date is Thursday, January 7th. Verizon Communications’s payout ratio is currently 52.18%.
In other news, EVP Craig L. Silliman sold 10,411 shares of the firm’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $57.73, for a total transaction of $601,027.03. Following the completion of the sale, the executive vice president now owns 23,771 shares of the company’s stock, valued at $1,372,299.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.07% of the stock is currently owned by company insiders.
Verizon Communications Company Profile
Verizon Communications Inc offers communications, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. Its Consumer segment provides postpaid and prepaid service plans; Internet access on notebook computers and tablets; wireless equipment, including smartphones and other handsets; and wireless-enabled Internet devices, such as tablets, laptop computers and netbooks, and other wireless-enabled connected devices, such as smart watches and other wearables.
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