Verizon Communications Inc. (VZ) Stake Lessened by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lowered its position in Verizon Communications Inc. (NYSE:VZ) by 0.2% during the first quarter, according to its most recent filing with the SEC. The firm owned 1,121,516 shares of the cell phone carrier’s stock after selling 2,563 shares during the period. Verizon Communications accounts for approximately 0.5% of Zurcher Kantonalbank Zurich Cantonalbank’s portfolio, making the stock its 29th largest position. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Verizon Communications were worth $53,631,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Exane Derivatives acquired a new position in shares of Verizon Communications during the 4th quarter valued at $103,000. Earnest Partners LLC acquired a new position in shares of Verizon Communications during the 4th quarter valued at $103,000. Stelac Advisory Services LLC acquired a new position in shares of Verizon Communications during the 4th quarter valued at $111,000. Wagner Wealth Management LLC acquired a new position in shares of Verizon Communications during the 4th quarter valued at $129,000. Finally, Avestar Capital LLC acquired a new position in shares of Verizon Communications during the 4th quarter valued at $131,000. Hedge funds and other institutional investors own 63.71% of the company’s stock.

In other news, SVP Anthony T. Skiadas sold 1,974 shares of the company’s stock in a transaction on Tuesday, May 1st. The shares were 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 owns 16,060 shares in the company, valued at approximately $794,006.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.09% of the company’s stock.

Verizon Communications opened at $50.86 on Friday, according to MarketBeat.com. Verizon Communications Inc. has a 1 year low of $42.80 and a 1 year high of $54.77. The company has a debt-to-equity ratio of 2.15, a current ratio of 0.98 and a quick ratio of 0.94. The firm has a market capitalization of $203.51 billion, a PE ratio of 13.60, a PEG ratio of 1.71 and a beta of 0.63.

Verizon Communications (NYSE:VZ) last posted its earnings results on Tuesday, April 24th. The cell phone carrier reported $1.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.06. Verizon Communications had a net margin of 24.37% and a return on equity of 42.62%. The firm had revenue of $31.77 billion during the quarter, compared to analyst estimates of $31.25 billion. During the same quarter in the prior year, the business posted $0.95 EPS. The business’s revenue was up 6.6% compared to the same quarter last year. analysts forecast that Verizon Communications Inc. will post 4.57 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 1st. Stockholders of record on Tuesday, July 10th will be paid a $0.59 dividend. The ex-dividend date is Monday, July 9th. This represents a $2.36 annualized dividend and a dividend yield of 4.64%. Verizon Communications’s payout ratio is 63.10%.

A number of research analysts recently issued reports on VZ shares. SunTrust Banks upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research report on Wednesday, April 25th. They noted that the move was a valuation call. UBS Group upgraded shares of Verizon Communications from a “neutral” rating to a “buy” rating in a research report on Wednesday, April 25th. Vetr downgraded shares of Verizon Communications from a “strong-buy” rating to a “buy” rating and set a $54.24 target price on the stock. in a research report on Tuesday, March 6th. HSBC upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research report on Wednesday, March 28th. Finally, Guggenheim started coverage on shares of Verizon Communications in a research report on Tuesday, March 13th. They set a “buy” rating and a $58.00 target price on the stock. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eighteen have given a buy rating to the company’s stock. Verizon Communications has an average rating of “Buy” and a consensus target price of $54.62.

About Verizon Communications

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.

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

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