Alexandria Capital LLC increased its stake in Verizon Communications Inc. (NYSE:VZ) by 47.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 29,749 shares of the cell phone carrier’s stock after buying an additional 9,531 shares during the period. Alexandria Capital LLC’s holdings in Verizon Communications were worth $1,661,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Emerald Acquisition Ltd. bought a new position in shares of Verizon Communications during the second quarter worth $297,331,000. Canada Pension Plan Investment Board raised its position in shares of Verizon Communications by 102.0% in the first quarter. Canada Pension Plan Investment Board now owns 5,912,820 shares of the cell phone carrier’s stock worth $319,765,000 after buying an additional 2,985,510 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in shares of Verizon Communications by 45.1% in the first quarter. Adage Capital Partners GP L.L.C. now owns 6,069,655 shares of the cell phone carrier’s stock valued at $328,247,000 after buying an additional 1,885,482 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in shares of 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 valued at $5,873,869,000 after buying an additional 1,582,173 shares during the period. Finally, Lazard Asset Management LLC boosted its stake in shares of Verizon Communications by 104.6% in the first quarter. Lazard Asset Management LLC now owns 3,054,161 shares of the cell phone carrier’s stock valued at $165,168,000 after buying an additional 1,561,110 shares during the period. Hedge funds and other institutional investors own 63.47% of the company’s stock.
Verizon Communications Inc. (NYSE:VZ) traded up 0.42% during trading on Friday, reaching $50.50. 2,317,974 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $51.82 and its 200-day moving average is $52.65. Verizon Communications Inc. has a 12-month low of $43.79 and a 12-month high of $56.95. The company has a market cap of $205.85 billion, a P/E ratio of 14.27 and a beta of 0.30.
Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Tuesday, July 26th. The cell phone carrier reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.02. The company had revenue of $30.53 billion for the quarter, compared to the consensus estimate of $30.95 billion. Verizon Communications had a net margin of 11.10% and a return on equity of 87.41%. The firm’s revenue was down 5.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.04 earnings per share. Analysts predict that Verizon Communications Inc. will post $3.89 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, October 7th will be paid a dividend of $0.0125 per share. 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%.
Several equities research analysts have commented on VZ shares. Jefferies Group reissued a “hold” rating on shares of Verizon Communications in a research report on Monday, September 19th. Vetr cut shares of Verizon Communications from a “strong-buy” rating to a “buy” rating and set a $58.40 price target on the stock. in a research report on Thursday, September 22nd. Drexel Hamilton reissued an “in-line” rating on shares of Verizon Communications in a research report on Wednesday, July 27th. Oppenheimer Holdings Inc. cut shares of Verizon Communications from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 20th. They noted that the move was a valuation call. Finally, Imperial Capital cut shares of Verizon Communications from an “outperform” rating to an “in-line” rating and upped their target price for the company from $50.00 to $60.00 in a report on Tuesday, August 2nd. Twenty-four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock presently has an average 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 that occurred on Monday, September 26th. The shares were sold at an average price of $52.40, for a total transaction of $35,212.80. Following the sale, the executive vice president now owns 9,854 shares in the company, valued at approximately $516,349.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.10% of the company’s stock.
Verizon Communications Company Profile
Verizon Communications Inc (Verizon) is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. The Company offers voice, data and video services and solutions on its wireless and wireline networks.