UMB Bank N A MO increased its stake in Verizon Communications Inc. (NYSE:VZ) by 7.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 433,910 shares of the cell phone carrier’s stock after buying an additional 28,663 shares during the period. UMB Bank N A MO’s holdings in Verizon Communications were worth $21,153,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Norges Bank acquired a new position in Verizon Communications during the fourth quarter worth $1,712,958,000. FMR LLC increased its position in Verizon Communications by 17.9% in the fourth quarter. FMR LLC now owns 48,743,437 shares of the cell phone carrier’s stock worth $2,601,925,000 after buying an additional 7,388,078 shares during the period. Asset Management One Co. Ltd. increased its position in Verizon Communications by 1,244.2% in the fourth quarter. Asset Management One Co. Ltd. now owns 7,366,887 shares of the cell phone carrier’s stock worth $393,444,000 after buying an additional 6,818,838 shares during the period. State Street Corp increased its position in 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 worth $8,863,705,000 after buying an additional 5,406,022 shares during the period. Finally, FIL Ltd increased its position in Verizon Communications by 29.5% in the fourth quarter. FIL Ltd now owns 12,144,029 shares of the cell phone carrier’s stock worth $648,248,000 after buying an additional 2,764,437 shares during the period. 62.53% of the stock is owned by institutional investors.
Shares of Verizon Communications Inc. (NYSE:VZ) opened at 43.48 on Monday. The company’s 50-day moving average is $45.84 and its 200 day moving average is $48.85. The firm has a market capitalization of $177.37 billion, a P/E ratio of 14.54 and a beta of 0.54. Verizon Communications Inc. has a 52-week low of $43.21 and a 52-week high of $56.25.
Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Thursday, April 20th. The cell phone carrier reported $0.95 EPS for the quarter, missing analysts’ consensus estimates of $0.98 by $0.03. Verizon Communications had a net margin of 9.92% and a return on equity of 66.99%. The business had revenue of $29.81 billion for the quarter, compared to the consensus estimate of $30.41 billion. During the same quarter in the previous year, the business earned $1.06 earnings per share. The firm’s revenue was down 7.3% on a year-over-year basis. Analysts expect that Verizon Communications Inc. will post $3.74 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th will be given a dividend of $0.5775 per share. This represents a $2.31 dividend on an annualized basis and a yield of 5.31%. The ex-dividend date of this dividend is Thursday, July 6th. Verizon Communications’s payout ratio is currently 77.00%.
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VZ has been the subject of a number of analyst reports. Vetr raised shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $52.26 target price for the company in a research report on Monday, March 27th. Bank of America Corporation reaffirmed a “buy” rating and issued a $59.00 target price on shares of Verizon Communications in a research report on Friday, April 28th. TheStreet downgraded shares of Verizon Communications from a “b-” rating to a “c” rating in a research report on Thursday, April 27th. Barclays PLC decreased their target price on shares of Verizon Communications from $52.00 to $49.00 and set an “equal weight” rating for the company in a research report on Thursday, April 13th. Finally, Royal Bank of Canada reiterated a “hold” rating and issued a $51.00 price target on shares of Verizon Communications in a research note on Friday, April 7th. Twenty-six research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Verizon Communications currently has an average rating of “Hold” and an average target price of $53.72.
In other news, EVP Craig L. Silliman sold 610 shares of the firm’s stock in a transaction that occurred on Thursday, April 27th. The shares were sold at an average price of $47.36, for a total value of $28,889.60. Following the transaction, the executive vice president now owns 9,649 shares in the company, valued at $456,976.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Marni M. Walden sold 16,362 shares of the firm’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $46.08, for a total transaction of $753,960.96. Following the completion of the transaction, the executive vice president now owns 11,797 shares in the company, valued at approximately $543,605.76. The disclosure for this sale can be found here. Insiders have sold 18,192 shares of company stock worth $837,958 over the last quarter. Company insiders own 0.13% of the company’s stock.
About Verizon Communications
Verizon Communications Inc is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. Its segments include Wireless and Wireline. The Wireless segment offers communications products and services, including wireless voice and data services and equipment sales, to consumer, business and government customers across the United States.
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