Robeco Institutional Asset Management B.V. Trims Position in Verizon Communications Inc. (NYSE:VZ)

Robeco Institutional Asset Management B.V. decreased its position in shares of Verizon Communications Inc. (NYSE:VZFree Report) by 29.5% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,495,517 shares of the cell phone carrier’s stock after selling 626,434 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Verizon Communications were worth $56,381,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. raised its stake in Verizon Communications by 4.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 98,027,542 shares of the cell phone carrier’s stock worth $3,151,714,000 after purchasing an additional 4,527,387 shares during the period. FMR LLC increased its position in shares of Verizon Communications by 17.0% in the third quarter. FMR LLC now owns 28,400,326 shares of the cell phone carrier’s stock worth $920,455,000 after acquiring an additional 4,134,150 shares in the last quarter. Comerica Bank acquired a new stake in shares of Verizon Communications in the third quarter worth $133,491,000. International Assets Investment Management LLC increased its position in shares of Verizon Communications by 3,782.4% in the fourth quarter. International Assets Investment Management LLC now owns 3,974,813 shares of the cell phone carrier’s stock worth $149,850,000 after acquiring an additional 3,872,434 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in Verizon Communications by 104.0% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 5,302,051 shares of the cell phone carrier’s stock valued at $171,839,000 after purchasing an additional 2,703,197 shares in the last quarter. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Verizon Communications Stock Performance

Shares of VZ traded down $0.19 on Friday, reaching $40.06. 14,670,373 shares of the stock traded hands, compared to its average volume of 18,686,390. The firm has a market cap of $168.62 billion, a price-to-earnings ratio of 14.95, a P/E/G ratio of 2.91 and a beta of 0.42. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.71 and a quick ratio of 0.67. Verizon Communications Inc. has a 12 month low of $30.14 and a 12 month high of $43.42. The stock’s 50-day moving average price is $40.34 and its 200-day moving average price is $39.33.

Verizon Communications (NYSE:VZGet Free Report) last announced its quarterly earnings results on Monday, April 22nd. The cell phone carrier reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.03. Verizon Communications had a return on equity of 20.41% and a net margin of 8.44%. The firm had revenue of $33 billion for the quarter, compared to analysts’ expectations of $33.23 billion. During the same period in the prior year, the business posted $1.20 earnings per share. The business’s revenue was up .3% compared to the same quarter last year. Equities analysts forecast that Verizon Communications Inc. will post 4.6 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th were paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 6.64%. The ex-dividend date was Tuesday, April 9th. Verizon Communications’s dividend payout ratio (DPR) is presently 99.25%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on VZ. StockNews.com upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating in a research report on Saturday, May 4th. KeyCorp raised their price target on shares of Verizon Communications from $45.00 to $46.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. Daiwa Capital Markets upgraded shares of Verizon Communications from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $36.00 to $47.00 in a research report on Wednesday, January 24th. Tigress Financial raised their price target on shares of Verizon Communications from $50.00 to $52.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Oppenheimer reiterated an “outperform” rating and issued a $48.00 price objective on shares of Verizon Communications in a research report on Tuesday, April 23rd. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Verizon Communications currently has an average rating of “Moderate Buy” and an average target price of $44.36.

Read Our Latest Report on VZ

Insider Activity

In other Verizon Communications news, CEO Kyle Malady sold 24,000 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $40.80, for a total value of $979,200.00. Following the transaction, the chief executive officer now owns 35,201 shares of the company’s stock, valued at $1,436,200.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.02% of the stock is currently owned by insiders.

About Verizon Communications

(Free Report)

Verizon Communications Inc, through its subsidiaries, engages in the provision of communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. It operates in two segments, Verizon Consumer Group (Consumer) and Verizon Business Group (Business).

Further Reading

Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

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