Oregon Public Employees Retirement Fund lowered its stake in Verizon Communications Inc. (NYSE:VZ) by 0.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 796,877 shares of the cell phone carrier’s stock after selling 494 shares during the period. Verizon Communications accounts for about 1.0% of Oregon Public Employees Retirement Fund’s portfolio, making the stock its 10th largest position. Oregon Public Employees Retirement Fund’s holdings in Verizon Communications were worth $44,498,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in VZ. Lowe fs LLC raised 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 valued at $132,000 after buying an additional 19 shares in the last quarter. First National Bank Sioux Falls raised its stake in shares of Verizon Communications by 8.7% in the second quarter. First National Bank Sioux Falls now owns 3,408 shares of the cell phone carrier’s stock valued at $190,000 after buying an additional 272 shares in the last quarter. Fenimore Asset Management Inc. bought a new stake in shares of Verizon Communications during the second quarter valued at approximately $202,000. Independence Advisors LLC bought a new stake in shares of Verizon Communications during the second quarter valued at approximately $203,000. Finally, Portfolio Solutions LLC bought a new stake in shares of Verizon Communications during the second quarter valued at approximately $205,000. 63.47% of the stock is currently owned by institutional investors.
Shares of Verizon Communications Inc. (NYSE:VZ) traded up 1.17% on Wednesday, reaching $51.87. The company had a trading volume of 14,434,003 shares. The stock has a 50-day moving average price of $52.81 and a 200-day moving average price of $52.85. Verizon Communications Inc. has a 12 month low of $42.20 and a 12 month high of $56.95. The stock has a market cap of $211.44 billion, a PE ratio of 14.65 and a beta of 0.26.
Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Tuesday, July 26th. The cell phone carrier reported $0.94 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.02. Verizon Communications had a return on equity of 87.41% and a net margin of 11.10%. The firm earned $30.53 billion during the quarter, compared to analyst estimates of $30.95 billion. During the same period last year, the company posted $1.04 EPS. The business’s quarterly revenue was down 5.3% on a year-over-year basis. Analysts predict that Verizon Communications Inc. will post $3.89 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Friday, October 7th will be given a $0.0125 dividend. This represents a $0.05 annualized dividend and a dividend yield of 0.10%. The ex-dividend date is Wednesday, October 5th. Verizon Communications’s dividend payout ratio (DPR) is presently 63.84%.
Several analysts recently commented on VZ shares. Jefferies Group reaffirmed a “hold” rating on shares of Verizon Communications in a research note on Friday, September 2nd. Nomura reiterated a “hold” rating and issued a $47.00 price objective on shares of Verizon Communications in a research report on Monday, September 12th. Barclays PLC reiterated an “equal weight” rating and issued a $52.00 price objective on shares of Verizon Communications in a research report on Friday, August 26th. Zacks Investment Research downgraded Verizon Communications from a “hold” rating to a “sell” rating in a research report on Monday, June 27th. Finally, Vetr downgraded Verizon Communications from a “strong-buy” rating to a “buy” rating and set a $58.40 price objective for the company. in a research report on Thursday, September 1st. Twenty-three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $54.50.
In other news, EVP Craig L. Silliman sold 672 shares of Verizon Communications stock in a transaction dated Wednesday, July 27th. The stock was sold at an average price of $54.81, for a total value of $36,832.32. Following the completion of the transaction, the executive vice president now directly owns 11,198 shares of the company’s stock, valued at approximately $613,762.38. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.10% of the stock is owned by insiders.
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.
Receive News & Ratings for Verizon Communications Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verizon Communications Inc. and related companies with MarketBeat.com's FREE daily email newsletter.