AustralianSuper Pty Ltd Has $13.96 Million Position in Verizon Communications Inc. $VZ

AustralianSuper Pty Ltd trimmed its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 31.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 317,579 shares of the cell phone carrier’s stock after selling 145,602 shares during the period. AustralianSuper Pty Ltd’s holdings in Verizon Communications were worth $13,958,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Advantage Trust Co grew its stake in Verizon Communications by 549.5% in the second quarter. Advantage Trust Co now owns 591 shares of the cell phone carrier’s stock valued at $26,000 after purchasing an additional 500 shares in the last quarter. TruNorth Capital Management LLC boosted its holdings in shares of Verizon Communications by 95.3% in the 3rd quarter. TruNorth Capital Management LLC now owns 625 shares of the cell phone carrier’s stock valued at $27,000 after buying an additional 305 shares during the last quarter. Global Wealth Strategies & Associates grew its stake in shares of Verizon Communications by 739.5% in the third quarter. Global Wealth Strategies & Associates now owns 680 shares of the cell phone carrier’s stock valued at $30,000 after buying an additional 599 shares in the last quarter. RMG Wealth Management LLC bought a new position in shares of Verizon Communications in the second quarter valued at $30,000. Finally, Winnow Wealth LLC acquired a new position in Verizon Communications during the second quarter worth $34,000. Institutional investors and hedge funds own 62.06% of the company’s stock.

Verizon Communications Trading Up 1.0%

Shares of VZ stock opened at $39.80 on Friday. Verizon Communications Inc. has a 12-month low of $38.39 and a 12-month high of $47.35. The company has a market capitalization of $167.80 billion, a PE ratio of 8.50, a price-to-earnings-growth ratio of 3.76 and a beta of 0.34. The firm has a 50 day moving average price of $40.25 and a two-hundred day moving average price of $41.55. The company has a quick ratio of 0.69, a current ratio of 0.74 and a debt-to-equity ratio of 1.19.

Verizon Communications (NYSE:VZ) last posted its earnings results on Wednesday, October 29th. The cell phone carrier reported $1.21 EPS for the quarter, beating the consensus estimate of $1.19 by $0.02. The company had revenue of $33.82 billion for the quarter, compared to the consensus estimate of $34.19 billion. Verizon Communications had a return on equity of 19.31% and a net margin of 14.43%.The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.19 earnings per share. As a group, analysts predict that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 12th will be issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 6.9%. The ex-dividend date of this dividend is Monday, January 12th. Verizon Communications’s dividend payout ratio is currently 58.97%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Scotiabank increased their price target on shares of Verizon Communications from $50.50 to $51.00 and gave the company a “sector perform” rating in a research note on Thursday, October 30th. Barclays began coverage on Verizon Communications in a report on Thursday, January 22nd. They set an “equal weight” rating and a $43.00 price target for the company. BNP Paribas Exane downgraded Verizon Communications from an “outperform” rating to a “neutral” rating and set a $44.00 price target on the stock. in a research report on Tuesday, October 21st. TD Cowen cut their price objective on Verizon Communications from $56.00 to $51.00 and set a “buy” rating for the company in a research report on Thursday, October 30th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Verizon Communications in a report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat.com, Verizon Communications presently has an average rating of “Hold” and an average target price of $47.43.

Verizon Communications Company Profile

Verizon Communications Inc (NYSE: VZ) is a major U.S.-based telecommunications company that provides a broad range of communications and information services. Its operations span consumer and business markets, with core offerings that include wireless voice and data services, fixed-line broadband and fiber-optic services, and enterprise networking solutions. Verizon is headquartered in New York City and operates a nationwide wireless network that supports consumer subscribers as well as business and government customers.

The company’s consumer products include mobile phone plans, unlimited data services, and Fios, its branded fiber-optic internet, television and voice service for homes and small businesses.