DekaBank Deutsche Girozentrale decreased its stake in Verizon Communications Inc. (NYSE:VZ) by 0.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,488,017 shares of the cell phone carrier’s stock after selling 10,302 shares during the period. Verizon Communications comprises approximately 1.6% of DekaBank Deutsche Girozentrale’s investment portfolio, making the stock its 7th largest position. DekaBank Deutsche Girozentrale owned 0.06% of Verizon Communications worth $137,049,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in VZ. Lowe fs LLC increased its stake in shares of Verizon Communications by 0.8% in the second quarter. Lowe fs LLC now owns 2,356 shares of the cell phone carrier’s stock worth $132,000 after buying an additional 19 shares during the period. Warren Averett Asset Management LLC boosted its position in Verizon Communications by 0.5% in the second quarter. Warren Averett Asset Management LLC now owns 6,082 shares of the cell phone carrier’s stock worth $340,000 after buying an additional 29 shares in the last quarter. Financial Consulate Inc. boosted its position in Verizon Communications by 0.5% in the second quarter. Financial Consulate Inc. now owns 10,667 shares of the cell phone carrier’s stock worth $596,000 after buying an additional 57 shares in the last quarter. IMS Capital Management boosted its position in Verizon Communications by 0.3% in the second quarter. IMS Capital Management now owns 22,795 shares of the cell phone carrier’s stock worth $1,273,000 after buying an additional 64 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its position in Verizon Communications by 1.4% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 4,940 shares of the cell phone carrier’s stock worth $276,000 after buying an additional 70 shares in the last quarter. Institutional investors own 63.47% of the company’s stock.
Shares of Verizon Communications Inc. (NYSE:VZ) traded down 1.29% during trading on Tuesday, reaching $51.21. 7,112,380 shares of the company were exchanged. Verizon Communications Inc. has a 1-year low of $43.46 and a 1-year high of $56.95. The firm has a market capitalization of $208.75 billion, a P/E ratio of 14.47 and a beta of 0.30. The firm’s 50 day moving average is $52.40 and its 200 day moving average is $52.81.
Verizon Communications (NYSE:VZ) last released its earnings results on Tuesday, July 26th. The cell phone carrier reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.02. Verizon Communications had a return on equity of 87.41% and a net margin of 11.10%. The business had revenue of $30.53 billion for the quarter, compared to analyst estimates of $30.95 billion. During the same quarter last year, the firm posted $1.04 earnings per share. The business’s revenue was down 5.3% compared to the same quarter last year. On average, equities analysts anticipate that Verizon Communications Inc. will post $3.89 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, October 7th will be paid a $0.0125 dividend. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $0.05 dividend on an annualized basis and a yield of 0.10%. Verizon Communications’s payout ratio is 63.84%.
VZ has been the subject of several recent research reports. Argus restated a “buy” rating on shares of Verizon Communications in a research report on Sunday, June 12th. Bank of America Corp. reaffirmed a “buy” rating on shares of Verizon Communications in a research note on Wednesday, June 8th. Morgan Stanley reissued a “buy” rating on shares of Verizon Communications in a research note on Monday, June 6th. RBC Capital Markets reissued a “buy” rating on shares of Verizon Communications in a research note on Monday, July 25th. Finally, Vetr reissued a “buy” rating on shares of Verizon Communications in a research note on Wednesday, August 10th. Twenty-four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $54.44.
In other Verizon Communications news, EVP Craig L. Silliman sold 672 shares of the stock in a transaction on Monday, September 26th. The stock was sold at an average price of $52.40, for a total value of $35,212.80. Following the sale, the executive vice president now owns 9,854 shares in the company, valued at $516,349.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.10% of the stock is owned by company insiders.
Verizon Communications Company Profile
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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