Tredje AP fonden Decreases Stake in Verizon Communications Inc. (VZ)

Tredje AP fonden cut its holdings in Verizon Communications Inc. (NYSE:VZ) by 1.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 211,254 shares of the cell phone carrier’s stock after selling 3,766 shares during the period. Tredje AP fonden’s holdings in Verizon Communications were worth $10,455,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of VZ. Capital Research Global Investors boosted its stake in Verizon Communications by 15.1% during the 2nd quarter. Capital Research Global Investors now owns 153,408,016 shares of the cell phone carrier’s stock valued at $6,851,202,000 after purchasing an additional 20,070,391 shares during the period. FMR LLC raised its position in shares of Verizon Communications by 15.0% during the 2nd quarter. FMR LLC now owns 61,833,096 shares of the cell phone carrier’s stock worth $2,761,466,000 after buying an additional 8,077,275 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Verizon Communications by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 282,894,542 shares of the cell phone carrier’s stock worth $12,634,070,000 after buying an additional 5,837,702 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Verizon Communications by 19.9% during the 2nd quarter. Franklin Resources Inc. now owns 21,820,729 shares of the cell phone carrier’s stock worth $974,515,000 after buying an additional 3,623,182 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Verizon Communications by 52.6% during the 2nd quarter. Principal Financial Group Inc. now owns 9,014,846 shares of the cell phone carrier’s stock worth $402,604,000 after buying an additional 3,107,054 shares in the last quarter. 64.21% of the stock is owned by institutional investors and hedge funds.

In other news, SVP Anthony T. Skiadas sold 6,967 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $49.80, for a total transaction of $346,956.60. Following the sale, the senior vice president now owns 16,059 shares in the company, valued at $799,738.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Craig L. Silliman sold 610 shares of the business’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $47.41, for a total transaction of $28,920.10. Following the sale, the executive vice president now owns 3,269 shares in the company, valued at approximately $154,983.29. The disclosure for this sale can be found here. 0.13% of the stock is owned by insiders.

Shares of Verizon Communications Inc. (NYSE VZ) opened at $50.15 on Monday. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.54. Verizon Communications Inc. has a fifty-two week low of $42.80 and a fifty-two week high of $54.77. The company has a market cap of $204,561.86, a P/E ratio of 13.37, a P/E/G ratio of 2.04 and a beta of 0.58.

Verizon Communications (NYSE:VZ) last released its earnings results on Tuesday, January 23rd. The cell phone carrier reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.02). Verizon Communications had a return on equity of 48.97% and a net margin of 23.88%. The business had revenue of $33.96 billion during the quarter, compared to the consensus estimate of $33.20 billion. During the same quarter in the previous year, the firm earned $0.86 earnings per share. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. analysts predict that Verizon Communications Inc. will post 4.54 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 1st. Investors of record on Wednesday, January 10th were issued a $0.59 dividend. The ex-dividend date was Tuesday, January 9th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.71%. Verizon Communications’s payout ratio is currently 32.07%.

A number of analysts have commented on the stock. Zacks Investment Research upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a research report on Tuesday, February 13th. Vetr upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $54.80 price target on the stock in a research report on Monday, February 5th. Macquarie restated a “hold” rating and set a $54.00 price target on shares of Verizon Communications in a research report on Wednesday, January 24th. SunTrust Banks boosted their price target on shares of Verizon Communications to $58.00 and gave the stock a “hold” rating in a research report on Wednesday, January 24th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Verizon Communications from $52.00 to $58.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and ten have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $53.51.

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About Verizon Communications

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

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