Moseley Investment Management Inc. lessened its position in shares of Verizon Communications Inc. (NYSE:VZ) by 3.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 32,271 shares of the cell phone carrier’s stock after selling 1,287 shares during the period. Verizon Communications comprises 1.9% of Moseley Investment Management Inc.’s investment portfolio, making the stock its 10th biggest holding. Moseley Investment Management Inc.’s holdings in Verizon Communications were worth $1,981,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of VZ. BlackRock Inc. increased its stake in Verizon Communications by 1.7% in the second quarter. BlackRock Inc. now owns 317,036,667 shares of the cell phone carrier’s stock valued at $18,112,307,000 after purchasing an additional 5,319,802 shares during the last quarter. State Street Corp raised its holdings in Verizon Communications by 0.3% during the third quarter. State Street Corp now owns 162,854,317 shares of the cell phone carrier’s stock worth $9,829,887,000 after purchasing an additional 509,082 shares in the last quarter. Morgan Stanley lifted its position in shares of Verizon Communications by 5.0% during the 2nd quarter. Morgan Stanley now owns 34,002,255 shares of the cell phone carrier’s stock worth $1,942,547,000 after buying an additional 1,627,183 shares during the last quarter. Nuveen Asset Management LLC lifted its position in shares of Verizon Communications by 6,712.8% during the 2nd quarter. Nuveen Asset Management LLC now owns 29,602,386 shares of the cell phone carrier’s stock worth $1,691,184,000 after buying an additional 29,167,876 shares during the last quarter. Finally, California Public Employees Retirement System boosted its holdings in shares of Verizon Communications by 14.3% in the 3rd quarter. California Public Employees Retirement System now owns 16,926,517 shares of the cell phone carrier’s stock valued at $1,021,685,000 after buying an additional 2,123,395 shares in the last quarter. Institutional investors own 65.25% of the company’s stock.
In other Verizon Communications news, EVP Craig L. Silliman sold 1,349 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $60.42, for a total transaction of $81,506.58. Following the completion of the sale, the executive vice president now directly owns 19,983 shares of the company’s stock, valued at approximately $1,207,372.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Craig L. Silliman sold 1,346 shares of Verizon Communications stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $59.55, for a total value of $80,154.30. Following the completion of the transaction, the executive vice president now owns 18,637 shares in the company, valued at $1,109,833.35. The disclosure for this sale can be found here. 0.03% of the stock is currently owned by corporate insiders.
Shares of Verizon Communications stock opened at $59.10 on Thursday. The firm’s fifty day simple moving average is $60.64 and its 200-day simple moving average is $59.01. Verizon Communications Inc. has a 12 month low of $52.28 and a 12 month high of $62.22. The stock has a market capitalization of $244.18 billion, a price-to-earnings ratio of 12.55, a PEG ratio of 3.72 and a beta of 0.51. The company has a debt-to-equity ratio of 1.99, a current ratio of 0.89 and a quick ratio of 0.85.
Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Friday, October 25th. The cell phone carrier reported $1.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.01. Verizon Communications had a net margin of 12.26% and a return on equity of 34.50%. The firm had revenue of $32.89 billion during the quarter, compared to analysts’ expectations of $32.74 billion. During the same quarter in the prior year, the business earned $1.22 EPS. Verizon Communications’s quarterly revenue was up .9% compared to the same quarter last year. Analysts anticipate that Verizon Communications Inc. will post 4.83 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be paid a $0.615 dividend. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $2.46 dividend on an annualized basis and a yield of 4.16%. Verizon Communications’s dividend payout ratio is presently 52.23%.
Several brokerages recently commented on VZ. Moffett Nathanson set a $57.00 price target on shares of Verizon Communications and gave the stock a “hold” rating in a research note on Friday, October 25th. ValuEngine upgraded shares of Verizon Communications from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. SunTrust Banks raised their price objective on Verizon Communications from $61.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Guggenheim lifted their target price on Verizon Communications from $65.00 to $69.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Finally, Nomura cut Verizon Communications from a “buy” rating to a “neutral” rating and cut their target price for the stock from $67.00 to $65.00 in a research report on Monday, November 4th. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $63.44.
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; international travel wireless services; and network access services to deliver various Internet of Things products and services, as well as offers digital advertising and digital media services platforms.
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