Tocqueville Asset Management L.P. Grows Stake in Verizon Communications Inc. (VZ)

Tocqueville Asset Management L.P. lifted its position in shares of Verizon Communications Inc. (NYSE:VZ) by 0.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 900,877 shares of the cell phone carrier’s stock after acquiring an additional 2,950 shares during the period. Tocqueville Asset Management L.P.’s holdings in Verizon Communications were worth $44,584,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Private Vista LLC raised its stake in Verizon Communications by 3,339.1% in the 2nd quarter. Private Vista LLC now owns 389,552 shares of the cell phone carrier’s stock valued at $143,000 after purchasing an additional 378,225 shares during the last quarter. Mountain Capital Investment Advisors Inc acquired a new position in Verizon Communications in the 2nd quarter valued at about $156,000. Regal Wealth Group Inc. raised its stake in Verizon Communications by 0.7% in the 2nd quarter. Regal Wealth Group Inc. now owns 3,682 shares of the cell phone carrier’s stock valued at $164,000 after purchasing an additional 24 shares during the last quarter. Camarda Financial Advisors LLC raised its stake in Verizon Communications by 11.3% in the 2nd quarter. Camarda Financial Advisors LLC now owns 3,749 shares of the cell phone carrier’s stock valued at $167,000 after purchasing an additional 382 shares during the last quarter. Finally, Atlantic Trust LLC raised its stake in Verizon Communications by 9.9% in the 2nd quarter. Atlantic Trust LLC now owns 11,164 shares of the cell phone carrier’s stock valued at $170,000 after purchasing an additional 1,005 shares during the last quarter. 63.21% of the stock is owned by institutional investors and hedge funds.

Shares of Verizon Communications Inc. (NYSE:VZ) opened at $52.39 on Tuesday. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 4.05. The company has a market capitalization of $213,720.00, a PE ratio of 13.43, a price-to-earnings-growth ratio of 4.80 and a beta of 0.57. Verizon Communications Inc. has a fifty-two week low of $42.80 and a fifty-two week high of $53.69.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Thursday, October 19th. The cell phone carrier reported $0.98 EPS for the quarter, meeting the consensus estimate of $0.98. The company 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 firm’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.01 EPS. equities research analysts forecast that Verizon Communications Inc. will post 3.77 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.50%. The ex-dividend date of this dividend is Tuesday, January 9th. Verizon Communications’s payout ratio is currently 60.51%.

In other news, EVP Craig L. Silliman sold 610 shares of the business’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $48.62, for a total transaction of $29,658.20. Following the completion of the sale, the executive vice president now owns 5,989 shares in the company, valued at approximately $291,185.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.13% of the stock is currently owned by insiders.

Several research analysts recently weighed in on VZ shares. Instinet boosted their target price on shares of Verizon Communications from $47.00 to $61.00 and gave the company a “buy” rating in a research note on Tuesday, December 12th. Nomura raised shares of Verizon Communications from a “neutral” rating to a “buy” rating and boosted their target price for the company from $47.00 to $61.00 in a research note on Tuesday, December 12th. ValuEngine raised shares of Verizon Communications from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Moffett Nathanson reissued a “buy” rating on shares of Verizon Communications in a research note on Thursday, October 12th. Finally, Bank of America set a $52.00 target price on shares of Verizon Communications and gave the company a “buy” rating in a research note on Friday, October 20th. Two equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $51.98.

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Verizon Communications Company Profile

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

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