Bank of The Ozarks Has $3.34 Million Stake in Verizon Communications Inc. (VZ)
Bank of The Ozarks reduced its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 3.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 74,828 shares of the cell phone carrier’s stock after selling 2,773 shares during the quarter. Verizon Communications accounts for 1.2% of Bank of The Ozarks’ holdings, making the stock its 11th biggest holding. Bank of The Ozarks’ holdings in Verizon Communications were worth $3,341,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp grew its holdings in shares of Verizon Communications by 1.2% during the 1st quarter. State Street Corp now owns 168,115,884 shares of the cell phone carrier’s stock worth $8,195,661,000 after purchasing an additional 2,066,816 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Verizon Communications by 7.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 19,403,560 shares of the cell phone carrier’s stock valued at $866,563,000 after buying an additional 1,277,604 shares in the last quarter. Macquarie Group Ltd. boosted its stake in Verizon Communications by 2.1% in the first quarter. Macquarie Group Ltd. now owns 15,452,275 shares of the cell phone carrier’s stock valued at $753,262,000 after buying an additional 318,586 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in Verizon Communications by 1.3% in the second quarter. Canada Pension Plan Investment Board now owns 10,704,239 shares of the cell phone carrier’s stock valued at $478,051,000 after buying an additional 136,700 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its stake in Verizon Communications by 1.8% in the first quarter. Clearbridge Investments LLC now owns 7,651,193 shares of the cell phone carrier’s stock valued at $372,996,000 after buying an additional 133,038 shares in the last quarter. 62.08% of the stock is currently owned by institutional investors.
In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $48.62, for a total value of $29,658.20. Following the completion of the sale, the executive vice president now owns 5,989 shares of the company’s stock, valued at $291,185.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 1,830 shares of company stock valued at $89,365 in the last ninety days. 0.13% of the stock is currently owned by insiders.
Several analysts recently weighed in on the company. TheStreet raised Verizon Communications from a “c+” rating to a “b-” rating in a research note on Tuesday, August 8th. Moffett Nathanson reaffirmed a “buy” rating on shares of Verizon Communications in a research note on Thursday, October 12th. Cowen and Company reaffirmed a “hold” rating and issued a $52.00 price objective on shares of Verizon Communications in a research note on Tuesday, September 19th. SunTrust Banks, Inc. reaffirmed a “hold” rating and issued a $50.00 price objective on shares of Verizon Communications in a research note on Friday, October 20th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Verizon Communications in a research note on Saturday, October 21st. Two analysts have rated the stock with a sell rating, twenty have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $52.75.
Shares of Verizon Communications Inc. (NYSE:VZ) opened at $47.42 on Friday. Verizon Communications Inc. has a one year low of $42.80 and a one year high of $54.83. The company has a market capitalization of $193,447.08, a P/E ratio of 12.65, a P/E/G ratio of 4.46 and a beta of 0.55. The company has a debt-to-equity ratio of 4.05, a quick ratio of 1.02 and a current ratio of 1.07.
Verizon Communications (NYSE:VZ) last released its earnings results on Thursday, October 19th. The cell phone carrier reported $0.98 EPS for the quarter, hitting the consensus estimate of $0.98. Verizon Communications had a return on equity of 58.66% and a net margin of 12.80%. The business had revenue of $31.70 billion during the quarter, compared to analysts’ expectations of $31.45 billion. During the same quarter last year, the firm posted $1.01 earnings per share. The firm’s revenue was up 2.5% on a year-over-year basis. analysts forecast that Verizon Communications Inc. will post 3.77 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Friday, October 6th. This represents a $2.36 annualized dividend and a yield of 4.98%. This is a boost from Verizon Communications’s previous quarterly dividend of $0.58. Verizon Communications’s dividend payout ratio (DPR) is currently 60.51%.
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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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