Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp Has $34.54 Million Position in Verizon Communications Inc. (VZ)

Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its position in shares of Verizon Communications Inc. (NYSE:VZ) by 221.7% in the second quarter, Holdings Channel reports. The fund owned 686,622 shares of the cell phone carrier’s stock after purchasing an additional 473,200 shares during the quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp’s holdings in Verizon Communications were worth $34,544,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of VZ. Cedar Hill Associates LLC increased its stake in Verizon Communications by 7.7% during the 2nd quarter. Cedar Hill Associates LLC now owns 13,539 shares of the cell phone carrier’s stock valued at $681,000 after purchasing an additional 968 shares in the last quarter. Bailard Inc. increased its stake in Verizon Communications by 1.0% during the 2nd quarter. Bailard Inc. now owns 99,356 shares of the cell phone carrier’s stock valued at $4,999,000 after purchasing an additional 977 shares in the last quarter. Live Your Vision LLC increased its stake in Verizon Communications by 24.0% during the 2nd quarter. Live Your Vision LLC now owns 5,166 shares of the cell phone carrier’s stock valued at $265,000 after purchasing an additional 1,000 shares in the last quarter. Vantage Financial Partners Ltd. Inc. increased its stake in Verizon Communications by 6.7% during the 2nd quarter. Vantage Financial Partners Ltd. Inc. now owns 15,879 shares of the cell phone carrier’s stock valued at $799,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Canal Capital Management LLC increased its stake in Verizon Communications by 2.5% during the 2nd quarter. Canal Capital Management LLC now owns 41,657 shares of the cell phone carrier’s stock valued at $2,096,000 after purchasing an additional 1,008 shares in the last quarter. 64.17% of the stock is owned by institutional investors.

A number of brokerages have issued reports on VZ. Scotiabank set a $62.00 price target on shares of Verizon Communications and gave the company a “buy” rating in a research note on Wednesday, October 24th. Zacks Investment Research lowered shares of Verizon Communications from a “buy” rating to a “hold” rating in a research note on Monday, October 1st. ValuEngine upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating in a research note on Wednesday, October 24th. Bank of America reiterated a “buy” rating and issued a $58.00 price objective on shares of Verizon Communications in a research note on Monday, October 22nd. Finally, Moffett Nathanson reiterated a “neutral” rating and issued a $56.00 price objective on shares of Verizon Communications in a research note on Tuesday, September 4th. Seven analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $56.22.

VZ stock opened at $58.64 on Monday. The firm has a market cap of $242.06 billion, a P/E ratio of 15.68, a PEG ratio of 2.55 and a beta of 0.46. The company has a current ratio of 0.97, a quick ratio of 0.93 and a debt-to-equity ratio of 1.90. Verizon Communications Inc. has a one year low of $46.08 and a one year high of $61.58.

Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Tuesday, October 23rd. The cell phone carrier reported $1.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.19 by $0.03. The company had revenue of $32.61 billion for the quarter, compared to analyst estimates of $32.45 billion. Verizon Communications had a net margin of 24.71% and a return on equity of 35.50%. The firm’s revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the business earned $0.98 earnings per share. Research analysts predict that Verizon Communications Inc. will post 4.68 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, November 1st. Investors of record on Wednesday, October 10th were given a dividend of $0.6025 per share. This represents a $2.41 annualized dividend and a yield of 4.11%. The ex-dividend date was Tuesday, October 9th. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.59. Verizon Communications’s dividend payout ratio (DPR) is currently 64.44%.

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About Verizon Communications

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; multimedia, business-focused, and location-based services, as well as international travel services; and network access services to deliver various Internet of Things products and services.

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

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