Verizon Communications (VZ) Holdings Raised by Day & Ennis LLC

Day & Ennis LLC grew its holdings in Verizon Communications (NYSE:VZ) by 22.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,519 shares of the cell phone carrier’s stock after acquiring an additional 1,568 shares during the quarter. Day & Ennis LLC’s holdings in Verizon Communications were worth $451,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. BlackRock Inc. lifted its holdings in shares of Verizon Communications by 0.8% during the fourth quarter. BlackRock Inc. now owns 265,904,768 shares of the cell phone carrier’s stock worth $14,074,340,000 after purchasing an additional 2,236,290 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Verizon Communications by 14.1% during the fourth quarter. Bank of New York Mellon Corp now owns 48,749,993 shares of the cell phone carrier’s stock worth $2,580,337,000 after purchasing an additional 6,007,544 shares during the period. Legal & General Group Plc lifted its holdings in shares of Verizon Communications by 2.7% during the third quarter. Legal & General Group Plc now owns 24,495,234 shares of the cell phone carrier’s stock worth $1,212,227,000 after purchasing an additional 636,014 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in shares of Verizon Communications by 6.2% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 21,390,896 shares of the cell phone carrier’s stock worth $1,132,221,000 after purchasing an additional 1,250,691 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in shares of Verizon Communications by 1.8% during the third quarter. Nordea Investment Management AB now owns 20,021,107 shares of the cell phone carrier’s stock worth $990,845,000 after purchasing an additional 346,725 shares during the period. 64.10% of the stock is owned by institutional investors and hedge funds.

Verizon Communications opened at $47.85 on Friday, MarketBeat Ratings reports. The company has a market capitalization of $197.28 billion, a PE ratio of 12.79, a price-to-earnings-growth ratio of 1.91 and a beta of 0.62. Verizon Communications has a 12 month low of $47.65 and a 12 month high of $48.02. The company has a debt-to-equity ratio of 2.15, a current ratio of 0.98 and a quick ratio of 0.94.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Tuesday, April 24th. The cell phone carrier reported $1.17 EPS for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.06. The business had revenue of $31.77 billion during the quarter, compared to analysts’ expectations of $31.25 billion. Verizon Communications had a return on equity of 42.62% and a net margin of 24.37%. The business’s revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.95 earnings per share. equities analysts predict that Verizon Communications will post 4.57 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 1st. Stockholders of record on Tuesday, April 10th were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.93%. The ex-dividend date was Monday, April 9th. Verizon Communications’s dividend payout ratio (DPR) is presently 63.10%.

In other news, SVP Anthony T. Skiadas sold 1,974 shares of the business’s stock in a transaction that occurred on Tuesday, May 1st. The stock was sold at an average price of $49.44, for a total value of $97,594.56. Following the completion of the sale, the senior vice president now directly owns 16,060 shares in the company, valued at $794,006.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.09% of the stock is owned by insiders.

VZ has been the subject of a number of research reports. HSBC raised Verizon Communications from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a report on Wednesday, March 28th. Vetr raised Verizon Communications from a “buy” rating to a “strong-buy” rating and set a $53.82 target price for the company in a report on Tuesday, March 20th. Scotiabank raised Verizon Communications from a “sector perform” rating to a “buy” rating and set a $60.00 target price for the company in a report on Monday, January 22nd. Nomura lifted their price target on Verizon Communications from $61.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, January 24th. Finally, Scotia Howard Weill upgraded Verizon Communications from a “sector perform” rating to a “sector outperform” rating in a research report on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and sixteen have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $54.75.

Verizon Communications Profile

Verizon Communications Inc, through its subsidiaries, offers communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company's Wireless segment provides wireless voice and data services; Internet access on various notebook computers and tablets; multimedia, business-focused, and location-based services, as well as international travel services; and network access services to deliver various Internet of Things products and services.

Want to see what other hedge funds are holding VZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Verizon Communications (NYSE:VZ).

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

Receive News & Ratings for Verizon Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verizon Communications and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply