Verizon Communications Inc. (VZ) is Jupiter Asset Management Ltd.’s 8th Largest Position

Jupiter Asset Management Ltd. reduced its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 19.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,136,511 shares of the cell phone carrier’s stock after selling 270,503 shares during the period. Verizon Communications accounts for approximately 2.0% of Jupiter Asset Management Ltd.’s investment portfolio, making the stock its 8th largest position. Jupiter Asset Management Ltd.’s holdings in Verizon Communications were worth $55,405,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of VZ. GLG LLC increased its stake in Verizon Communications by 12.6% in the fourth quarter. GLG LLC now owns 239,664 shares of the cell phone carrier’s stock worth $12,793,000 after buying an additional 26,864 shares during the period. Hampstead Capital LLP purchased a new stake in Verizon Communications during the fourth quarter worth $3,080,000. Freestone Capital Holdings LLC increased its stake in Verizon Communications by 16.3% in the fourth quarter. Freestone Capital Holdings LLC now owns 65,691 shares of the cell phone carrier’s stock worth $3,507,000 after buying an additional 9,212 shares during the period. Bienville Capital Management LLC increased its stake in Verizon Communications by 110.1% in the fourth quarter. Bienville Capital Management LLC now owns 8,588 shares of the cell phone carrier’s stock worth $458,000 after buying an additional 4,500 shares during the period. Finally, SRS Capital Advisors Inc. purchased a new stake in Verizon Communications during the fourth quarter worth $446,000. 62.33% of the stock is currently owned by institutional investors.

Verizon Communications Inc. (NYSE:VZ) opened at 47.69 on Friday. The company has a 50-day moving average of $46.01 and a 200-day moving average of $47.29. Verizon Communications Inc. has a 52 week low of $42.80 and a 52 week high of $54.83. The firm has a market cap of $194.55 billion, a price-to-earnings ratio of 12.26 and a beta of 0.56.

Verizon Communications (NYSE:VZ) last released its earnings results on Thursday, July 27th. The cell phone carrier reported $0.96 EPS for the quarter, hitting analysts’ consensus estimates of $0.96. Verizon Communications had a net margin of 12.88% and a return on equity of 63.06%. The company had revenue of $30.55 billion for the quarter, compared to analysts’ expectations of $29.84 billion. During the same quarter last year, the business earned $0.94 EPS. The firm’s revenue was up .1% compared to the same quarter last year. Equities research analysts forecast that Verizon Communications Inc. will post $3.79 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were issued a dividend of $0.5775 per share. This represents a $2.31 dividend on an annualized basis and a yield of 4.84%. The ex-dividend date was Thursday, July 6th. Verizon Communications’s dividend payout ratio (DPR) is currently 59.23%.

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VZ has been the subject of a number of analyst reports. TheStreet cut shares of Verizon Communications from a “b-” rating to a “c” rating in a research note on Thursday, April 27th. Goldman Sachs Group, Inc. (The) restated a “neutral” rating on shares of Verizon Communications in a research note on Wednesday, June 28th. Vetr upgraded shares of Verizon Communications from a “buy” rating to a “strong-buy” rating and set a $50.65 target price for the company in a research note on Wednesday, July 5th. Macquarie reiterated a “neutral” rating and issued a $49.00 target price (down previously from $50.00) on shares of Verizon Communications in a research note on Sunday, April 23rd. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $50.00 target price (down previously from $51.00) on shares of Verizon Communications in a research note on Sunday, April 23rd. Two research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $52.73.

In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of the stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $45.00, for a total transaction of $27,450.00. Following the completion of the sale, the executive vice president now directly owns 8,429 shares of the company’s stock, valued at approximately $379,305. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last ninety days, insiders have sold 1,830 shares of company stock valued at $84,229. Insiders own 0.13% of the company’s stock.

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.

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

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