Federated Investors Inc. PA increased its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 4.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 21,166,107 shares of the cell phone carrier’s stock after buying an additional 825,524 shares during the period. Verizon Communications comprises 3.4% of Federated Investors Inc. PA’s portfolio, making the stock its 2nd largest position. Federated Investors Inc. PA’s holdings in Verizon Communications were worth $1,129,847,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of the stock. State Street Corp boosted its position in shares of Verizon Communications by 3.4% in the fourth quarter. State Street Corp now owns 166,049,068 shares of the cell phone carrier’s stock valued at $8,863,705,000 after buying an additional 5,406,022 shares during the period. Northern Trust Corp boosted its position in shares of Verizon Communications by 1.1% in the third quarter. Northern Trust Corp now owns 50,072,612 shares of the cell phone carrier’s stock valued at $2,602,775,000 after buying an additional 547,624 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Verizon Communications by 19.9% in the third quarter. Price T Rowe Associates Inc. MD now owns 29,966,112 shares of the cell phone carrier’s stock valued at $1,557,638,000 after buying an additional 4,982,419 shares during the period. Nordea Investment Management AB boosted its position in shares of Verizon Communications by 20.0% in the third quarter. Nordea Investment Management AB now owns 23,807,665 shares of the cell phone carrier’s stock valued at $1,237,522,000 after buying an additional 3,960,191 shares during the period. Finally, Macquarie Group Ltd. boosted its position in shares of Verizon Communications by 4.9% in the second quarter. Macquarie Group Ltd. now owns 14,029,001 shares of the cell phone carrier’s stock valued at $783,379,000 after buying an additional 650,267 shares during the period. Hedge funds and other institutional investors own 63.38% of the company’s stock.
Verizon Communications Inc. (NYSE:VZ) opened at 50.24 on Tuesday. Verizon Communications Inc. has a 52 week low of $46.01 and a 52 week high of $56.95. The firm’s 50 day moving average price is $49.26 and its 200-day moving average price is $50.48. The stock has a market cap of $204.81 billion, a price-to-earnings ratio of 15.65 and a beta of 0.43.
Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Tuesday, January 24th. The cell phone carrier reported $0.86 EPS for the quarter, missing the consensus estimate of $0.89 by $0.03. The business earned $32.30 billion during the quarter, compared to the consensus estimate of $32.12 billion. Verizon Communications had a return on equity of 72.75% and a net margin of 10.42%. Verizon Communications’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.89 earnings per share. Analysts expect that Verizon Communications Inc. will post $3.85 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, May 1st. Shareholders of record on Monday, April 10th will be given a $0.5775 dividend. The ex-dividend date is Thursday, April 6th. This represents a $2.31 annualized dividend and a yield of 4.60%. Verizon Communications’s payout ratio is 71.74%.
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VZ has been the topic of several recent analyst reports. Vetr upgraded Verizon Communications from a “hold” rating to a “buy” rating and set a $52.98 target price on the stock in a research report on Tuesday, January 24th. Evercore ISI initiated coverage on Verizon Communications in a research report on Monday, January 30th. They set a “hold” rating and a $53.00 target price on the stock. Pacific Crest reiterated an “equal weight” rating on shares of Verizon Communications in a research report on Tuesday, January 24th. Barclays PLC dropped their target price on Verizon Communications from $53.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 25th. Finally, Drexel Hamilton cut Verizon Communications from a “buy” rating to a “hold” rating in a research report on Friday, January 6th. One research analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and seven have given a buy rating to the company. Verizon Communications has a consensus rating of “Hold” and an average target price of $54.53.
In other Verizon Communications news, SVP Anthony T. Skiadas sold 12,495 shares of the firm’s stock in a transaction dated Tuesday, February 14th. The stock was sold at an average price of $48.27, for a total value of $603,133.65. Following the transaction, the senior vice president now directly owns 16,058 shares of the company’s stock, valued at $775,119.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Roger Gurnani sold 10,804 shares of the firm’s stock in a transaction dated Thursday, February 23rd. The stock was sold at an average price of $50.29, for a total value of $543,333.16. Following the completion of the transaction, the executive vice president now directly owns 63,734 shares in the company, valued at $3,205,182.86. The disclosure for this sale can be found here. Insiders sold 55,553 shares of company stock worth $2,756,586 over the last three months. Insiders own 0.10% of the company’s stock.
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.
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