Old Mutual Global Investors UK Ltd. cut its stake in Verizon Communications Inc. (NYSE:VZ) by 0.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 248,380 shares of the cell phone carrier’s stock after selling 1,468 shares during the period. Old Mutual Global Investors UK Ltd.’s holdings in Verizon Communications were worth $12,292,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in the stock. Capital Research Global Investors boosted its position in Verizon Communications by 15.1% during the second quarter. Capital Research Global Investors now owns 153,408,016 shares of the cell phone carrier’s stock valued at $6,851,202,000 after buying an additional 20,070,391 shares during the period. FMR LLC boosted its position in Verizon Communications by 15.0% during the second quarter. FMR LLC now owns 61,833,096 shares of the cell phone carrier’s stock valued at $2,761,466,000 after buying an additional 8,077,275 shares during the period. Vanguard Group Inc. boosted its position in Verizon Communications by 2.1% during the second quarter. Vanguard Group Inc. now owns 282,894,542 shares of the cell phone carrier’s stock valued at $12,634,070,000 after buying an additional 5,837,702 shares during the period. Franklin Resources Inc. boosted its position in Verizon Communications by 19.9% during the second quarter. Franklin Resources Inc. now owns 21,820,729 shares of the cell phone carrier’s stock valued at $974,515,000 after buying an additional 3,623,182 shares during the period. Finally, Principal Financial Group Inc. boosted its position in Verizon Communications by 52.6% during the second quarter. Principal Financial Group Inc. now owns 9,014,846 shares of the cell phone carrier’s stock valued at $402,604,000 after buying an additional 3,107,054 shares during the period. Institutional investors own 63.21% of the company’s stock.
In related news, EVP Craig L. Silliman sold 610 shares of the stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $47.41, for a total value of $28,920.10. Following the completion of the transaction, the executive vice president now directly owns 3,269 shares of the company’s stock, valued at $154,983.29. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.13% of the stock is owned by corporate insiders.
Verizon Communications Inc. (NYSE:VZ) opened at $51.86 on Friday. Verizon Communications Inc. has a one year low of $42.80 and a one year high of $53.69. The stock has a market cap of $211,560.00, a PE ratio of 13.30, a P/E/G ratio of 4.71 and a beta of 0.57. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 4.05.
Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Thursday, October 19th. The cell phone carrier reported $0.98 earnings per share (EPS) for the quarter, hitting 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 company had revenue of $31.70 billion during the quarter, compared to the consensus estimate of $31.45 billion. During the same period in the prior year, the firm earned $1.01 earnings per share. Verizon Communications’s revenue was up 2.5% on a year-over-year basis. analysts anticipate that Verizon Communications Inc. will post 3.77 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Investors 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 yield of 4.55%. The ex-dividend date of this dividend is Tuesday, January 9th. Verizon Communications’s payout ratio is currently 60.51%.
TRADEMARK VIOLATION WARNING: “Old Mutual Global Investors UK Ltd. Cuts Position in Verizon Communications Inc. (VZ)” was first published by Community Financial News and is the sole property of of Community Financial News. If you are reading this news story on another publication, it was copied illegally and reposted in violation of United States & international copyright and trademark laws. The legal version of this news story can be viewed at https://www.com-unik.info/2018/01/14/old-mutual-global-investors-uk-ltd-cuts-position-in-verizon-communications-inc-vz.html.
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.
What are top analysts saying about Verizon Communications? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Verizon Communications and related companies.