Banco de Sabadell S.A Has $8.51 Million Stake in Verizon Communications Inc. (NYSE:VZ)

Banco de Sabadell S.A lowered its position in Verizon Communications Inc. (NYSE:VZ) by 25.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 157,595 shares of the cell phone carrier’s stock after selling 53,496 shares during the quarter. Verizon Communications makes up about 1.3% of Banco de Sabadell S.A’s investment portfolio, making the stock its 17th largest holding. Banco de Sabadell S.A’s holdings in Verizon Communications were worth $8,511,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Danda Trouve Investment Management Inc. bought a new position in shares of Verizon Communications during the 4th quarter worth approximately $25,000. Lionsbridge Wealth Management LLC bought a new stake in Verizon Communications in the 4th quarter valued at $32,000. HighMark Wealth Management LLC acquired a new stake in Verizon Communications during the 4th quarter valued at $33,000. AlphaCore Capital LLC bought a new position in Verizon Communications during the first quarter worth $35,000. Finally, Permanens Capital L.P. acquired a new position in shares of Verizon Communications in the fourth quarter valued at $37,000. 65.45% of the stock is owned by institutional investors.

In related news, SVP Anthony T. Skiadas sold 10,744 shares of the firm’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $57.10, for a total value of $613,482.40. Following the sale, the senior vice president now directly owns 27,501 shares of the company’s stock, valued at $1,570,307.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.07% of the company’s stock.

Several analysts recently commented on the stock. Royal Bank of Canada reaffirmed a “hold” rating on shares of Verizon Communications in a report on Monday, April 27th. Nomura Securities reduced their price objective on Verizon Communications from $65.00 to $61.00 and set a “neutral” rating for the company in a report on Monday, March 30th. SunTrust Banks increased their target price on Verizon Communications from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Oppenheimer initiated coverage on Verizon Communications in a research note on Friday, April 24th. They issued a “buy” rating and a $70.00 price target for the company. Finally, ValuEngine lowered Verizon Communications from a “hold” rating to a “sell” rating in a report on Friday, May 1st. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $61.63.

Verizon Communications stock traded up $0.52 during trading hours on Friday, reaching $57.74. 16,950,992 shares of the stock were exchanged, compared to its average volume of 16,627,296. The company has a current ratio of 0.99, a quick ratio of 0.95 and a debt-to-equity ratio of 2.02. Verizon Communications Inc. has a twelve month low of $48.84 and a twelve month high of $62.22. The company has a market cap of $236.78 billion, a P/E ratio of 13.03, a price-to-earnings-growth ratio of 4.24 and a beta of 0.47. The stock has a 50 day moving average of $56.37 and a two-hundred day moving average of $57.82.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Friday, April 24th. The cell phone carrier reported $1.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.22 by $0.04. The company had revenue of $31.81 billion during the quarter, compared to the consensus estimate of $32.37 billion. Verizon Communications had a net margin of 14.00% and a return on equity of 33.26%. The firm’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.20 EPS. On average, analysts expect that Verizon Communications Inc. will post 4.76 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 10th will be issued a $0.615 dividend. This represents a $2.46 dividend on an annualized basis and a dividend yield of 4.26%. The ex-dividend date is Thursday, July 9th. Verizon Communications’s dividend payout ratio is presently 51.14%.

Verizon Communications Company Profile

Verizon Communications Inc, through its subsidiaries, offers communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company's Wireless segment provides wireless voice and data services; Internet access on various notebook computers and tablets; international travel wireless services; and network access services to deliver various Internet of Things products and services, as well as offers digital advertising and digital media services platforms.

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

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