The Integrated Wealth Counsel LLC Continues to Hold Position in Verizon Communications Inc. (VZ)

The Integrated Wealth Counsel LLC Continues to Hold Position in Verizon Communications Inc. (VZ)

Integrated Wealth Counsel LLC continued to hold its position in shares of Verizon Communications Inc. (NYSE:VZ) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,050 shares of the cell phone carrier’s stock at the end of the second quarter. Verizon Communications comprises 0.4% of Integrated Wealth Counsel LLC’s portfolio, making the stock its 27th largest position. Integrated Wealth Counsel LLC’s holdings in Verizon Communications were worth $170,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions 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 valued at $8,633,504,000 after buying an additional 744,122 shares in the last quarter. 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 valued at $5,873,869,000 after buying an additional 1,582,173 shares in the last quarter. 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 valued at $3,876,898,000 after buying an additional 1,174,260 shares in the last quarter. 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 valued at $1,799,729,000 after buying an additional 656,483 shares in the last quarter. 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 valued at $1,213,931,000 after buying an additional 119,497 shares in the last quarter. Institutional investors and hedge funds own 63.47% of the company’s stock.

Shares of Verizon Communications Inc. (NYSE:VZ) traded down 0.3649% during midday trading on Friday, hitting $50.0766. The stock had a trading volume of 5,402,247 shares. Verizon Communications Inc. has a 52-week low of $43.79 and a 52-week high of $56.95. The firm has a market cap of $204.13 billion, a price-to-earnings ratio of 14.1459 and a beta of 0.30. The firm’s 50 day moving average price is $52.17 and its 200 day moving average price is $52.76.

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 the Thomson Reuters’ consensus estimate of $0.92 by $0.02. Verizon Communications had a return on equity of 87.41% and a net margin of 11.10%. The company had revenue of $30.53 billion for the quarter, compared to analysts’ expectations of $30.95 billion. During the same period in the previous year, the firm posted $1.04 EPS. Verizon Communications’s revenue was down 5.3% compared to the same quarter last year. On average, equities research analysts expect that Verizon Communications Inc. will post $3.89 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Friday, October 7th will be issued a $0.0125 dividend. This represents a $0.05 annualized dividend 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 research analysts have recently weighed in on the company. Argus restated a “buy” rating on shares of Verizon Communications in a research note on Sunday, June 12th. Jefferies Group restated a “hold” rating on shares of Verizon Communications in a research note on Saturday, August 6th. Deutsche Bank AG restated a “hold” rating and issued a $52.00 price target (up previously from $50.00) on shares of Verizon Communications in a research note on Thursday, June 16th. Morgan Stanley boosted their price target on Verizon Communications from $59.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday, July 28th. Finally, Pacific Crest restated a “hold” rating on shares of Verizon Communications in a research note on Wednesday, July 27th. Twenty-four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $54.44.

In other news, EVP Craig L. Silliman sold 672 shares of the business’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $52.76, for a total transaction of $35,454.72. Following the transaction, the executive vice president now directly owns 10,526 shares in the company, valued at approximately $555,351.76. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.10% of the stock is owned by corporate insiders.

About Verizon Communications

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.

Related posts

Leave a Comment