Nationwide Fund Advisors lifted its position in shares of Verizon Communications Inc. (NYSE:VZ) by 7.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,009,405 shares of the cell phone carrier’s stock after acquiring an additional 131,845 shares during the quarter. Nationwide Fund Advisors’ holdings in Verizon Communications were worth $99,445,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Private Vista LLC grew its position in Verizon Communications by 3,339.1% during the second quarter. Private Vista LLC now owns 389,552 shares of the cell phone carrier’s stock worth $143,000 after buying an additional 378,225 shares during the period. Mountain Capital Investment Advisors Inc acquired a new position in Verizon Communications during the second quarter worth about $156,000. Regal Wealth Group Inc. grew its position in Verizon Communications by 0.7% during the second quarter. Regal Wealth Group Inc. now owns 3,682 shares of the cell phone carrier’s stock worth $164,000 after buying an additional 24 shares during the period. Camarda Financial Advisors LLC grew its position in Verizon Communications by 11.3% during the second quarter. Camarda Financial Advisors LLC now owns 3,749 shares of the cell phone carrier’s stock worth $167,000 after buying an additional 382 shares during the period. Finally, Atlantic Trust LLC grew its position in Verizon Communications by 9.9% during the second quarter. Atlantic Trust LLC now owns 11,164 shares of the cell phone carrier’s stock worth $170,000 after buying an additional 1,005 shares during the period. Institutional investors and hedge funds own 63.22% of the company’s stock.
In other news, EVP Craig L. Silliman sold 610 shares of the firm’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $47.41, for a total value of $28,920.10. Following the transaction, the executive vice president now owns 3,269 shares of the company’s stock, valued at approximately $154,983.29. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.13% of the company’s stock.
Verizon Communications (NYSE:VZ) last issued its earnings results on Thursday, October 19th. The cell phone carrier reported $0.98 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.98. Verizon Communications had a net margin of 12.80% and a return on equity of 58.66%. The business had revenue of $31.70 billion for the quarter, compared to the consensus estimate of $31.45 billion. During the same quarter last year, the firm posted $1.01 EPS. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. sell-side analysts forecast that Verizon Communications Inc. will post 3.77 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date is Tuesday, January 9th. Verizon Communications’s dividend payout ratio is presently 60.51%.
Several research firms have recently commented on VZ. Wells Fargo & Co upgraded shares of Verizon Communications from a “market perform” rating to an “outperform” rating and set a $50.00 price target on the stock in a research report on Monday, November 20th. SunTrust Banks reiterated a “hold” rating and issued a $50.00 price target on shares of Verizon Communications in a research report on Friday, October 20th. Bank of America set a $52.00 price target on shares of Verizon Communications and gave the company a “buy” rating in a research report on Friday, October 20th. Macquarie reiterated a “hold” rating and issued a $52.00 price target on shares of Verizon Communications in a research report on Sunday, October 22nd. Finally, ValuEngine upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Two investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $51.99.
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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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