Daiwa Securities Group Inc. Purchases 4,099 Shares of Verizon Communications Inc. (VZ)

Daiwa Securities Group Inc. boosted its position in shares of Verizon Communications Inc. (NYSE:VZ) by 3.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 130,688 shares of the cell phone carrier’s stock after purchasing an additional 4,099 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Verizon Communications were worth $5,836,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. State of New Jersey Common Pension Fund D raised its holdings in Verizon Communications by 7.1% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 4,091,468 shares of the cell phone carrier’s stock worth $182,725,000 after purchasing an additional 270,000 shares during the last quarter. Tufton Capital Management raised its holdings in Verizon Communications by 9.8% during the 2nd quarter. Tufton Capital Management now owns 156,603 shares of the cell phone carrier’s stock worth $6,994,000 after purchasing an additional 13,913 shares during the last quarter. Welch Investments LLC raised its holdings in Verizon Communications by 12.8% during the 2nd quarter. Welch Investments LLC now owns 88,884 shares of the cell phone carrier’s stock worth $3,970,000 after purchasing an additional 10,105 shares during the last quarter. Grove Bank & Trust raised its holdings in Verizon Communications by 6.2% during the 2nd quarter. Grove Bank & Trust now owns 44,882 shares of the cell phone carrier’s stock worth $2,004,000 after purchasing an additional 2,616 shares during the last quarter. Finally, Weatherly Asset Management L. P. raised its holdings in Verizon Communications by 2.7% during the 2nd quarter. Weatherly Asset Management L. P. now owns 49,619 shares of the cell phone carrier’s stock worth $2,216,000 after purchasing an additional 1,325 shares during the last quarter. 62.22% of the stock is owned by hedge funds and other institutional investors.

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In related news, EVP Craig L. Silliman sold 610 shares of Verizon Communications stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $48.65, for a total transaction of $29,676.50. Following the transaction, the executive vice president now owns 7,209 shares of the company’s stock, valued at $350,717.85. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last 90 days, insiders have sold 1,830 shares of company stock valued at $88,828. Corporate insiders own 0.13% of the company’s stock.

Several brokerages have weighed in on VZ. Robert W. Baird reissued a “hold” rating and set a $49.00 price objective on shares of Verizon Communications in a report on Wednesday, October 4th. SunTrust Banks, Inc. reissued a “hold” rating and set a $50.00 price objective on shares of Verizon Communications in a report on Friday. KeyCorp reissued a “hold” rating on shares of Verizon Communications in a report on Wednesday, October 11th. Moffett Nathanson reissued a “buy” rating on shares of Verizon Communications in a report on Thursday, October 12th. Finally, BidaskClub raised Verizon Communications from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Two research analysts have rated the stock with a sell rating, twenty-one have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $52.86.

Verizon Communications Inc. (VZ) opened at 49.21 on Friday. Verizon Communications Inc. has a 52-week low of $42.80 and a 52-week high of $54.83. The firm’s 50-day moving average price is $48.48 and its 200-day moving average price is $47.03. The firm has a market cap of $200.75 billion, a P/E ratio of 12.65 and a beta of 0.56.

Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Thursday, October 19th. The cell phone carrier reported $0.98 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.98. The firm had revenue of $31.70 billion during the quarter, compared to the consensus estimate of $31.45 billion. Verizon Communications had a return on equity of 63.06% and a net margin of 12.88%. The company’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.01 earnings per share. Equities research analysts expect that Verizo

A number of other large investors have also recently made changes to their positions in the business. State of New Jersey Common Pension Fund D raised its holdings in Verizon Communications by 7.1% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 4,091,468 shares of the cell phone carrier’s stock worth $182,725,000 after purchasing an additional 270,000 shares during the last quarter. Tufton Capital Management raised its holdings in Verizon Communications by 9.8% during the 2nd quarter. Tufton Capital Management now owns 156,603 shares of the cell phone carrier’s stock worth $6,994,000 after purchasing an additional 13,913 shares during the last quarter. Welch Investments LLC raised its holdings in Verizon Communications by 12.8% during the 2nd quarter. Welch Investments LLC now owns 88,884 shares of the cell phone carrier’s stock worth $3,970,000 after purchasing an additional 10,105 shares during the last quarter. Grove Bank & Trust raised its holdings in Verizon Communications by 6.2% during the 2nd quarter. Grove Bank & Trust now owns 44,882 shares of the cell phone carrier’s stock worth $2,004,000 after purchasing an additional 2,616 shares during the last quarter. Finally, Weatherly Asset Management L. P. raised its holdings in Verizon Communications by 2.7% during the 2nd quarter. Weatherly Asset Management L. P. now owns 49,619 shares of the cell phone carrier’s stock worth $2,216,000 after purchasing an additional 1,325 shares during the last quarter. 62.22% of the stock is owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY WARNING: This article was first published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this article on another site, it was illegally copied and reposted in violation of U.S. & international copyright & trademark laws. The original version of this article can be viewed at https://ledgergazette.com/2017/10/20/daiwa-securities-group-inc-purchases-4099-shares-of-verizon-communications-inc-vz.html.

In related news, EVP Craig L. Silliman sold 610 shares of Verizon Communications stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $48.65, for a total transaction of $29,676.50. Following the transaction, the executive vice president now owns 7,209 shares of the company’s stock, valued at $350,717.85. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last 90 days, insiders have sold 1,830 shares of company stock valued at $88,828. Corporate insiders own 0.13% of the company’s stock.

Several brokerages have weighed in on VZ. Robert W. Baird reissued a “hold” rating and set a $49.00 price objective on shares of Verizon Communications in a report on Wednesday, October 4th. SunTrust Banks, Inc. reissued a “hold” rating and set a $50.00 price objective on shares of Verizon Communications in a report on Friday. KeyCorp reissued a “hold” rating on shares of Verizon Communications in a report on Wednesday, October 11th. Moffett Nathanson reissued a “buy” rating on shares of Verizon Communications in a report on Thursday, October 12th. Finally, BidaskClub raised Verizon Communications from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Two research analysts have rated the stock with a sell rating, twenty-one have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $52.86.

Verizon Communications Inc. (VZ) opened at 49.21 on Friday. Verizon Communications Inc. has a 52-week low of $42.80 and a 52-week high of $54.83. The firm’s 50-day moving average price is $48.48 and its 200-day moving average price is $47.03. The firm has a market cap of $200.75 billion, a P/E ratio of 12.65 and a beta of 0.56.

Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Thursday, October 19th. The cell phone carrier reported $0.98 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.98. The firm had revenue of $31.70 billion during the quarter, compared to the consensus estimate of $31.45 billion. Verizon Communications had a return on equity of 63.06% and a net margin of 12.88%. The company’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.01 earnings per share. Equities research analysts expect that Verizon Communications Inc. will post $3.76 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th will be issued a dividend of $0.59 per share. This is an increase from Verizon Communications’s previous quarterly dividend of $0.58. The ex-dividend date is Friday, October 6th. This represents a $2.36 annualized dividend and a dividend yield of 4.80%. Verizon Communications’s payout ratio is currently 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.

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

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