Aviva PLC raised its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 6.1% during the fourth quarter, Holdings Channel reports. The fund owned 3,043,473 shares of the cell phone carrier’s stock after buying an additional 174,340 shares during the period. Verizon Communications comprises approximately 1.0% of Aviva PLC’s portfolio, making the stock its 17th largest position. Aviva PLC’s holdings in Verizon Communications were worth $162,522,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in VZ. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in Verizon Communications by 1.6% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 817,556 shares of the cell phone carrier’s stock valued at $42,497,000 after buying an additional 12,770 shares in the last quarter. Concentric Wealth Management LLC purchased a new stake in Verizon Communications during the fourth quarter valued at about $1,752,000. Mcmillion Capital Management Inc. raised its stake in Verizon Communications by 3.8% in the third quarter. Mcmillion Capital Management Inc. now owns 82,604 shares of the cell phone carrier’s stock valued at $4,294,000 after buying an additional 3,048 shares in the last quarter. Covington Capital Management raised its stake in Verizon Communications by 1.9% in the third quarter. Covington Capital Management now owns 262,289 shares of the cell phone carrier’s stock valued at $13,634,000 after buying an additional 4,766 shares in the last quarter. Finally, Salem Capital Management Inc. raised its stake in Verizon Communications by 2.5% in the third quarter. Salem Capital Management Inc. now owns 79,081 shares of the cell phone carrier’s stock valued at $4,111,000 after buying an additional 1,925 shares in the last quarter. 63.38% of the stock is owned by hedge funds and other institutional investors.
Shares of Verizon Communications Inc. (NYSE:VZ) opened at 49.68 on Monday. The company has a market capitalization of $202.53 billion, a P/E ratio of 15.48 and a beta of 0.43. Verizon Communications Inc. has a 12 month low of $46.01 and a 12 month high of $56.95. The company has a 50-day moving average price of $49.40 and a 200-day moving average price of $50.40.
Verizon Communications (NYSE:VZ) last announced its quarterly earnings results on Tuesday, January 24th. The cell phone carrier reported $0.86 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.89 by $0.03. Verizon Communications had a net margin of 10.42% and a return on equity of 72.75%. The company earned $32.30 billion during the quarter, compared to analyst estimates of $32.12 billion. During the same period in the previous year, the firm posted $0.89 earnings per share. The company’s revenue was down 5.6% compared to the same quarter last year. On average, analysts forecast that Verizon Communications Inc. will post $3.85 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, May 1st. Shareholders of record on Monday, April 10th will be issued a $0.5775 dividend. This represents a $2.31 dividend on an annualized basis and a yield of 4.65%. The ex-dividend date is Thursday, April 6th. Verizon Communications’s payout ratio is presently 71.74%.
Several equities research analysts recently issued reports on the stock. 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 report on Monday. BTIG Research reissued a “neutral” rating on shares of Verizon Communications in a report on Monday, March 6th. Moffett Nathanson raised shares of Verizon Communications from a “neutral” rating to a “buy” rating and increased their target price for the stock from $53.00 to $54.00 in a report on Tuesday, February 21st. Evercore ISI reissued a “hold” rating on shares of Verizon Communications in a report on Thursday, February 16th. Finally, Instinet reissued a “neutral” rating and issued a $47.00 target price on shares of Verizon Communications in a report on Thursday, February 16th. One investment analyst has rated the stock with a sell rating, twenty-four have given a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $54.56.
In other news, SVP Anthony T. Skiadas sold 12,495 shares of the business’s stock in a transaction that occurred on Tuesday, February 14th. The stock was sold at an average price of $48.27, for a total value of $603,133.65. Following the completion of the sale, the senior vice president now directly owns 16,058 shares in the company, valued at $775,119.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Marni M. Walden sold 32,254 shares of the business’s stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $49.92, for a total value of $1,610,119.68. Following the completion of the sale, the executive vice president now owns 28,159 shares of the company’s stock, valued at $1,405,697.28. The disclosure for this sale can be found here. Insiders sold 55,553 shares of company stock valued at $2,756,586 over the last three months. 0.10% of the stock is currently owned by corporate 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.
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