Daiwa Securities Group Inc. increased its holdings in Verizon Communications Inc. (NYSE:VZ) by 4.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 136,365 shares of the cell phone carrier’s stock after buying an additional 5,677 shares during the period. Daiwa Securities Group Inc.’s holdings in Verizon Communications were worth $6,748,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Salem Capital Management Inc. raised its position in Verizon Communications by 0.9% during the second quarter. Salem Capital Management Inc. now owns 83,050 shares of the cell phone carrier’s stock valued at $3,709,000 after purchasing an additional 700 shares in the last quarter. Berson & Corrado Investment Advisors LLC acquired a new position in Verizon Communications during the second quarter valued at approximately $237,000. First Hawaiian Bank raised its position in Verizon Communications by 67.8% during the second quarter. First Hawaiian Bank now owns 18,990 shares of the cell phone carrier’s stock valued at $849,000 after purchasing an additional 7,672 shares in the last quarter. Youngs Advisory Group Inc. raised its position in Verizon Communications by 4.6% during the second quarter. Youngs Advisory Group Inc. now owns 4,507 shares of the cell phone carrier’s stock valued at $201,000 after purchasing an additional 200 shares in the last quarter. Finally, Perkins Coie Trust Co raised its position in Verizon Communications by 33.8% during the second quarter. Perkins Coie Trust Co now owns 11,874 shares of the cell phone carrier’s stock valued at $530,000 after purchasing an additional 3,000 shares in the last quarter. Institutional investors own 63.22% of the company’s stock.
Shares of Verizon Communications Inc. (VZ) opened at $51.72 on Thursday. 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 Inc. has a one year low of $42.80 and a one year high of $53.69. The firm has a market cap of $210,990.00, a price-to-earnings ratio of 13.26, a P/E/G ratio of 4.68 and a beta of 0.57.
The firm also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $2.36 annualized dividend and a dividend yield of 4.56%. Verizon Communications’s dividend payout ratio is 60.51%.
In related news, EVP Craig L. Silliman sold 610 shares of the business’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 sale, the executive vice president now owns 3,269 shares of the company’s stock, valued at $154,983.29. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.13% of the company’s stock.
VZ has been the subject of several research analyst reports. Instinet boosted their price objective on shares of Verizon Communications from $47.00 to $61.00 and gave the company a “buy” rating in a research report on Tuesday, December 12th. Nomura upgraded shares of Verizon Communications from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $47.00 to $61.00 in a research report on Tuesday, December 12th. ValuEngine upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Moffett Nathanson restated a “buy” rating on shares of Verizon Communications in a research report on Thursday, October 12th. Finally, Bank of America set a $52.00 price objective on shares of Verizon Communications and gave the company a “buy” rating in a research report on Friday, October 20th. Two equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Verizon Communications has an average rating of “Hold” and an average price target of $51.98.
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Verizon Communications 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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