Little House Capital LLC Takes Position in Verizon Communications Inc. (NYSE:VZ)

Little House Capital LLC bought a new stake in shares of Verizon Communications Inc. (NYSE:VZ) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 29,071 shares of the cell phone carrier’s stock, valued at approximately $1,755,000. Verizon Communications accounts for approximately 1.3% of Little House Capital LLC’s portfolio, making the stock its 23rd biggest holding.

Several other large investors also recently added to or reduced their stakes in VZ. Vanguard Group Inc. raised its holdings in shares of Verizon Communications by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 324,299,254 shares of the cell phone carrier’s stock worth $18,527,217,000 after buying an additional 4,562,510 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Verizon Communications by 1.7% during the 2nd quarter. BlackRock Inc. now owns 317,036,667 shares of the cell phone carrier’s stock worth $18,112,307,000 after buying an additional 5,319,802 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Verizon Communications by 1.5% during the 2nd quarter. Northern Trust Corp now owns 53,708,472 shares of the cell phone carrier’s stock worth $3,068,366,000 after buying an additional 785,670 shares in the last quarter. Morgan Stanley raised its holdings in shares of Verizon Communications by 5.0% during the 2nd quarter. Morgan Stanley now owns 34,002,255 shares of the cell phone carrier’s stock worth $1,942,547,000 after buying an additional 1,627,183 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its holdings in shares of Verizon Communications by 6,712.8% during the 2nd quarter. Nuveen Asset Management LLC now owns 29,602,386 shares of the cell phone carrier’s stock worth $1,691,184,000 after buying an additional 29,167,876 shares in the last quarter. Hedge funds and other institutional investors own 65.55% of the company’s stock.

Shares of NYSE VZ traded up $0.26 during trading on Monday, reaching $59.61. The company had a trading volume of 7,690,564 shares, compared to its average volume of 13,203,746. The company’s fifty day moving average price is $60.20 and its 200-day moving average price is $58.02. Verizon Communications Inc. has a 12 month low of $52.28 and a 12 month high of $61.58. The stock has a market cap of $246.08 billion, a P/E ratio of 12.66, a PEG ratio of 2.97 and a beta of 0.53. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 1.99.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Friday, October 25th. The cell phone carrier reported $1.25 EPS for the quarter, topping the consensus estimate of $1.24 by $0.01. The firm had revenue of $32.89 billion during the quarter, compared to the consensus estimate of $32.74 billion. Verizon Communications had a return on equity of 34.50% and a net margin of 12.26%. The company’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.22 earnings per share. As a group, equities analysts predict that Verizon Communications Inc. will post 4.83 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were paid a $0.615 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This is an increase from Verizon Communications’s previous quarterly dividend of $0.60. This represents a $2.46 annualized dividend and a dividend yield of 4.13%. Verizon Communications’s dividend payout ratio is 52.23%.

A number of equities analysts have recently commented on VZ shares. SunTrust Banks boosted their price target on Verizon Communications from $61.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. ValuEngine raised Verizon Communications from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Oppenheimer raised Verizon Communications from a “market perform” rating to an “outperform” rating and set a $70.00 price target for the company in a report on Tuesday, August 27th. Zacks Investment Research raised Verizon Communications from a “hold” rating to a “buy” rating and set a $62.00 price target for the company in a report on Monday, September 2nd. Finally, Moffett Nathanson set a $57.00 target price on Verizon Communications and gave the stock a “hold” rating in a report on Friday, October 25th. Ten equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $62.69.

In related news, EVP Craig L. Silliman sold 1,349 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $56.01, for a total transaction of $75,557.49. Following the completion of the sale, the executive vice president now directly owns 22,681 shares of the company’s stock, valued at $1,270,362.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Tami A. Erwin sold 17,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $57.75, for a total value of $981,750.00. Following the sale, the chief executive officer now directly owns 853 shares of the company’s stock, valued at $49,260.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,047 shares of company stock valued at $1,219,943. Company insiders own 0.03% of the company’s stock.

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; 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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