Boston Partners decreased its stake in Verizon Communications Inc. (NYSE:VZ) by 1.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 590,001 shares of the cell phone carrier’s stock after selling 11,475 shares during the period. Boston Partners’ holdings in Verizon Communications were worth $26,349,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in the company. Cadinha & Co. LLC grew its stake in shares of Verizon Communications by 0.5% in the second quarter. Cadinha & Co. LLC now owns 16,619 shares of the cell phone carrier’s stock worth $742,000 after acquiring an additional 76 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Verizon Communications by 7.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 19,403,560 shares of the cell phone carrier’s stock worth $866,563,000 after buying an additional 1,277,604 shares in the last quarter. Ruggie Capital Group boosted its stake in Verizon Communications by 26.9% during the second quarter. Ruggie Capital Group now owns 6,648 shares of the cell phone carrier’s stock worth $296,000 after buying an additional 1,410 shares in the last quarter. Tradewinds Capital Management LLC boosted its stake in Verizon Communications by 24.9% during the second quarter. Tradewinds Capital Management LLC now owns 8,118 shares of the cell phone carrier’s stock worth $363,000 after buying an additional 1,616 shares in the last quarter. Finally, Palisade Asset Management LLC boosted its stake in Verizon Communications by 46.3% during the second quarter. Palisade Asset Management LLC now owns 87,648 shares of the cell phone carrier’s stock worth $3,914,000 after buying an additional 27,750 shares in the last quarter. Institutional investors and hedge funds own 62.08% of the company’s stock.
A number of equities research analysts have weighed in on VZ shares. Royal Bank Of Canada reiterated a “hold” rating and set a $48.00 price target on shares of Verizon Communications in a research note on Sunday, July 9th. BidaskClub upgraded shares of Verizon Communications from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. Bank of America Corporation decreased their price target on shares of Verizon Communications from $59.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, July 13th. Barclays PLC decreased their price target on shares of Verizon Communications from $49.00 to $47.00 and set an “equal weight” rating on the stock in a research note on Friday, July 14th. Finally, Zacks Investment Research downgraded shares of Verizon Communications from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th. Two investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $52.75.
Shares of Verizon Communications Inc. (VZ) opened at $47.42 on Friday. The firm has a market capitalization of $193,447.08, a PE ratio of 12.65, a price-to-earnings-growth ratio of 4.46 and a beta of 0.55. Verizon Communications Inc. has a twelve month low of $42.80 and a twelve month high of $54.83. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 4.05.
Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Thursday, October 19th. The cell phone carrier reported $0.98 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.98. The firm had revenue of $31.70 billion during the quarter, compared to analysts’ expectations of $31.45 billion. Verizon Communications had a return on equity of 58.66% and a net margin of 12.80%. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.01 EPS. equities analysts anticipate that Verizon Communications Inc. will post 3.77 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th were issued a dividend of $0.59 per share. This is a boost from Verizon Communications’s previous quarterly dividend of $0.58. This represents a $2.36 annualized dividend and a yield of 4.98%. The ex-dividend date of this dividend was Friday, October 6th. Verizon Communications’s payout ratio is currently 60.51%.
In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of the business’s stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $49.23, for a total transaction of $30,030.30. Following the completion of the sale, the executive vice president now directly owns 6,599 shares of the company’s stock, valued at approximately $324,868.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 1,830 shares of company stock valued at $89,365 over the last three months. Company 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.
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