KBC Group NV raised its position in Verizon Communications Inc. (NYSE:VZ) by 55.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 719,656 shares of the cell phone carrier’s stock after acquiring an additional 256,108 shares during the period. KBC Group NV’s holdings in Verizon Communications were worth $32,140,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of VZ. Franklin Parlapiano Turner & Welch LLC acquired a new position in shares of Verizon Communications in the 1st quarter worth approximately $136,000. American Beacon Advisors Inc. acquired a new position in shares of Verizon Communications in the 1st quarter worth approximately $140,000. Proficio Capital Partners LLC raised its holdings in shares of Verizon Communications by 139.8% in the 1st quarter. Proficio Capital Partners LLC now owns 3,158 shares of the cell phone carrier’s stock worth $142,000 after buying an additional 1,841 shares in the last quarter. Camarda Financial Advisors LLC raised its holdings in shares of Verizon Communications by 11.3% in the 2nd quarter. Camarda Financial Advisors LLC now owns 3,749 shares of the cell phone carrier’s stock worth $167,000 after buying an additional 382 shares in the last quarter. Finally, Asset Advisors Corp raised its holdings in shares of Verizon Communications by 2.5% in the 2nd quarter. Asset Advisors Corp now owns 4,085 shares of the cell phone carrier’s stock worth $182,000 after buying an additional 100 shares in the last quarter. 62.09% of the stock is owned by hedge funds and other institutional investors.
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VZ has been the subject of a number of recent research reports. SunTrust Banks, Inc. reissued a “hold” rating and issued a $50.00 target price on shares of Verizon Communications in a report on Friday, October 20th. BidaskClub raised Verizon Communications from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Macquarie reissued a “hold” rating and issued a $52.00 target price on shares of Verizon Communications in a report on Sunday, October 22nd. Bank of America Corporation set a $52.00 target price on Verizon Communications and gave the stock a “buy” rating in a report on Friday, October 20th. Finally, Robert W. Baird reissued a “hold” rating and issued a $49.00 target price on shares of Verizon Communications in a report on Wednesday, October 4th. Two investment analysts have rated the stock with a sell rating, twenty have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $52.75.
In other news, EVP Craig L. Silliman sold 610 shares of the firm’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $48.62, for a total value of $29,658.20. Following the transaction, the executive vice president now directly owns 5,989 shares in the company, valued at approximately $291,185.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 1,830 shares of company stock worth $89,365 over the last 90 days. 0.13% of the stock is owned by corporate insiders.
Verizon Communications Inc. (VZ) opened at $44.77 on Friday. Verizon Communications Inc. has a 12-month low of $42.80 and a 12-month high of $54.83. The company has a debt-to-equity ratio of 4.05, a current ratio of 1.07 and a quick ratio of 1.02. The stock has a market capitalization of $182,640.00, a price-to-earnings ratio of 11.79, a PEG ratio of 4.16 and a beta of 0.55.
Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Thursday, October 19th. The cell phone carrier reported $0.98 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.98. Verizon Communications had a return on equity of 58.66% and a net margin of 12.80%. The business had revenue of $31.70 billion for the quarter, compared to analyst estimates of $31.45 billion. During the same period last year, the company earned $1.01 EPS. The firm’s revenue was up 2.5% on a year-over-year basis. research analysts anticipate that Verizon Communications Inc. will post 3.77 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th were given a $0.59 dividend. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.58. This represents a $2.36 annualized dividend and a dividend yield of 5.27%. The ex-dividend date of this dividend was Friday, October 6th. Verizon Communications’s dividend payout ratio (DPR) 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.
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