The 22,629 Shares of Verizon Communications Inc. (VZ) are sold by Tdam USA Inc.

The 22,629 Shares of Verizon Communications Inc. (VZ) are sold by Tdam USA Inc.

Tdam USA Inc. decreased its position in Verizon Communications Inc. (NYSE:VZ) by 4.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 528,128 shares of the cell phone carrier’s stock after selling 22,629 shares during the period. Verizon Communications accounts for 1.4% of Tdam USA Inc.’s investment portfolio, making the stock its 15th largest position. Tdam USA Inc.’s holdings in Verizon Communications were worth $29,491,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. State Street Corp boosted its position in Verizon Communications by 0.5% in the first quarter. State Street Corp now owns 159,643,137 shares of the cell phone carrier’s stock worth $8,633,504,000 after buying an additional 744,122 shares during the period. BlackRock Institutional Trust Company N.A. boosted its position in Verizon Communications by 1.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 108,614,434 shares of the cell phone carrier’s stock worth $5,873,869,000 after buying an additional 1,582,173 shares during the period. Wellington Management Group LLP boosted its position in Verizon Communications by 1.7% in the first quarter. Wellington Management Group LLP now owns 71,688,221 shares of the cell phone carrier’s stock worth $3,876,898,000 after buying an additional 1,174,260 shares during the period. Geode Capital Management LLC boosted its position in Verizon Communications by 2.0% in the first quarter. Geode Capital Management LLC now owns 33,346,023 shares of the cell phone carrier’s stock worth $1,799,729,000 after buying an additional 656,483 shares during the period. Finally, TIAA CREF Investment Management LLC boosted its position in Verizon Communications by 0.5% in the first quarter. TIAA CREF Investment Management LLC now owns 22,446,955 shares of the cell phone carrier’s stock worth $1,213,931,000 after buying an additional 119,497 shares during the period. 63.47% of the stock is currently owned by institutional investors and hedge funds.

Shares of Verizon Communications Inc. (NYSE:VZ) traded up 0.50% on Wednesday, reaching $50.15. 2,971,570 shares of the company were exchanged. The company’s 50 day moving average is $51.95 and its 200 day moving average is $52.69. The firm has a market capitalization of $204.43 billion, a PE ratio of 14.17 and a beta of 0.30. Verizon Communications Inc. has a 12-month low of $43.79 and a 12-month high of $56.95.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Tuesday, July 26th. The cell phone carrier reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.02. The business earned $30.53 billion during the quarter, compared to analysts’ expectations of $30.95 billion. Verizon Communications had a net margin of 11.10% and a return on equity of 87.41%. The business’s quarterly revenue was down 5.3% on a year-over-year basis. During the same period last year, the company posted $1.04 earnings per share. Analysts forecast that Verizon Communications Inc. will post $3.89 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, October 7th will be issued a $0.0125 dividend. This represents a $0.05 dividend on an annualized basis and a yield of 0.10%. The ex-dividend date of this dividend is Wednesday, October 5th. Verizon Communications’s payout ratio is 65.25%.

A number of research analysts have recently issued reports on VZ shares. Vetr cut shares of Verizon Communications from a “strong-buy” rating to a “buy” rating and set a $57.60 target price for the company. in a research note on Monday, October 3rd. HSBC reiterated a “hold” rating and issued a $54.00 target price on shares of Verizon Communications in a research note on Wednesday, September 28th. Jefferies Group reissued a “hold” rating on shares of Verizon Communications in a report on Friday, September 2nd. Nomura reissued a “hold” rating and issued a $47.00 price target on shares of Verizon Communications in a report on Monday, September 12th. Finally, Barclays PLC reissued an “equal weight” rating and issued a $52.00 price target on shares of Verizon Communications in a report on Friday, August 26th. Twenty-four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $54.44.

In other Verizon Communications news, EVP Craig L. Silliman sold 672 shares of the firm’s stock in a transaction on Friday, August 26th. The shares were sold at an average price of $52.76, for a total value of $35,454.72. Following the completion of the sale, the executive vice president now directly owns 10,526 shares in the company, valued at $555,351.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.10% of the stock is currently owned by company insiders.

Verizon Communications Company Profile

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