Factory Mutual Insurance Co. Has $45.28 Million Position in Verizon Communications Inc. (NYSE:VZ)

Factory Mutual Insurance Co. lifted its position in shares of Verizon Communications Inc. (NYSE:VZFree Report) by 12.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,201,066 shares of the cell phone carrier’s stock after buying an additional 128,600 shares during the period. Factory Mutual Insurance Co.’s holdings in Verizon Communications were worth $45,280,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Certified Advisory Corp raised its holdings in Verizon Communications by 1.0% during the first quarter. Certified Advisory Corp now owns 23,297 shares of the cell phone carrier’s stock worth $1,187,000 after acquiring an additional 233 shares in the last quarter. Pacifica Partners Inc. raised its stake in Verizon Communications by 4.6% in the fourth quarter. Pacifica Partners Inc. now owns 5,800 shares of the cell phone carrier’s stock valued at $223,000 after buying an additional 255 shares during the period. Selective Wealth Management Inc. raised its stake in Verizon Communications by 2.8% in the fourth quarter. Selective Wealth Management Inc. now owns 9,511 shares of the cell phone carrier’s stock valued at $374,000 after buying an additional 257 shares during the period. Horizon Bancorp Inc. IN raised its stake in Verizon Communications by 24.9% in the fourth quarter. Horizon Bancorp Inc. IN now owns 1,293 shares of the cell phone carrier’s stock valued at $49,000 after buying an additional 258 shares during the period. Finally, Princeton Global Asset Management LLC raised its stake in Verizon Communications by 2.4% in the fourth quarter. Princeton Global Asset Management LLC now owns 10,961 shares of the cell phone carrier’s stock valued at $413,000 after buying an additional 260 shares during the period. Institutional investors own 62.06% of the company’s stock.

Insider Buying and Selling at Verizon Communications

In other news, CEO Kyle Malady sold 15,000 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $40.33, for a total transaction of $604,950.00. Following the sale, the chief executive officer now owns 59,201 shares in the company, valued at $2,387,576.33. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.03% of the company’s stock.

Verizon Communications Price Performance

Shares of Verizon Communications stock traded up $0.17 during trading on Wednesday, hitting $42.71. The stock had a trading volume of 4,141,040 shares, compared to its average volume of 19,954,049. The firm has a market cap of $179.56 billion, a price-to-earnings ratio of 15.46, a P/E/G ratio of 3.43 and a beta of 0.41. Verizon Communications Inc. has a 12 month low of $30.14 and a 12 month high of $43.21. The business’s 50-day moving average is $40.74 and its 200 day moving average is $37.60. The company has a current ratio of 0.69, a quick ratio of 0.65 and a debt-to-equity ratio of 1.47.

Verizon Communications (NYSE:VZGet Free Report) last released its quarterly earnings results on Tuesday, January 23rd. The cell phone carrier reported $1.08 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.08. Verizon Communications had a net margin of 8.67% and a return on equity of 20.71%. The company had revenue of $35.10 billion during the quarter, compared to the consensus estimate of $34.60 billion. During the same period in the prior year, the firm earned $1.19 earnings per share. Verizon Communications’s revenue was down .6% on a year-over-year basis. As a group, sell-side analysts anticipate that Verizon Communications Inc. will post 4.61 earnings per share for the current year.

Verizon Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 6.23%. The ex-dividend date is Tuesday, April 9th. Verizon Communications’s dividend payout ratio is 96.38%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Royal Bank of Canada upped their price objective on Verizon Communications from $36.00 to $40.00 and gave the company a “sector perform” rating in a research note on Tuesday. Citigroup increased their target price on Verizon Communications from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Tuesday, January 30th. Oppenheimer reiterated an “outperform” rating and set a $48.00 target price on shares of Verizon Communications in a research note on Wednesday. Redburn Atlantic upgraded Verizon Communications from a “sell” rating to a “neutral” rating and increased their target price for the stock from $33.00 to $39.00 in a research note on Friday, March 22nd. Finally, Tigress Financial increased their target price on Verizon Communications from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $44.50.

Get Our Latest Stock Report on VZ

Verizon Communications Company Profile

(Free Report)

Verizon Communications Inc, through its subsidiaries, engages in the provision of communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. It operates in two segments, Verizon Consumer Group (Consumer) and Verizon Business Group (Business).

See Also

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

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