Cardinal Capital Management Inc. purchased a new stake in shares of Verizon Communications Inc. (NYSE:VZ) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,120 shares of the cell phone carrier’s stock, valued at approximately $130,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of VZ. Nuveen Asset Management LLC increased its stake in Verizon Communications by 6,712.8% during the second quarter. Nuveen Asset Management LLC now owns 29,602,386 shares of the cell phone carrier’s stock valued at $1,691,184,000 after acquiring an additional 29,167,876 shares during the period. BlackRock Inc. grew its stake in shares of Verizon Communications by 1.7% in the 2nd quarter. BlackRock Inc. now owns 317,036,667 shares of the cell phone carrier’s stock valued at $18,112,307,000 after purchasing an additional 5,319,802 shares during the period. Beutel Goodman & Co Ltd. grew its stake in shares of Verizon Communications by 95.6% in the 2nd quarter. Beutel Goodman & Co Ltd. now owns 10,096,656 shares of the cell phone carrier’s stock valued at $443,674,000 after purchasing an additional 4,936,074 shares during the period. Eagle Asset Management Inc. grew its stake in shares of Verizon Communications by 1,639.1% in the 3rd quarter. Eagle Asset Management Inc. now owns 2,827,454 shares of the cell phone carrier’s stock valued at $170,665,000 after purchasing an additional 2,664,871 shares during the period. Finally, AMF Pensionsforsakring AB grew its stake in shares of Verizon Communications by 247.9% in the 3rd quarter. AMF Pensionsforsakring AB now owns 3,345,721 shares of the cell phone carrier’s stock valued at $201,948,000 after purchasing an additional 2,383,909 shares during the period. Hedge funds and other institutional investors own 65.25% of the company’s stock.

NYSE:VZ opened at $59.10 on Thursday. The stock’s fifty day moving average price is $60.64 and its two-hundred day moving average price is $59.01. Verizon Communications Inc. has a 52-week low of $52.28 and a 52-week high of $62.22. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.85 and a current ratio of 0.89. The company has a market cap of $243.97 billion, a price-to-earnings ratio of 12.55, a P/E/G ratio of 3.71 and a beta of 0.51.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Friday, October 25th. The cell phone carrier reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.01. Verizon Communications had a return on equity of 34.50% and a net margin of 12.26%. The firm had revenue of $32.89 billion for the quarter, compared to the consensus estimate of $32.74 billion. During the same quarter in the prior year, the business earned $1.22 EPS. The business’s revenue for the quarter was up .9% compared to the same quarter last year. On average, equities analysts predict that Verizon Communications Inc. will post 4.83 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be issued a dividend of $0.615 per share. This represents a $2.46 annualized dividend and a yield of 4.16%. The ex-dividend date of this dividend is Thursday, January 9th. Verizon Communications’s dividend payout ratio is 52.23%.

Several equities research analysts have recently weighed in on VZ shares. SunTrust Banks upped their price objective on Verizon Communications from $61.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. New Street Research reiterated a “buy” rating on shares of Verizon Communications in a research note on Friday, January 10th. Moffett Nathanson set a $57.00 price objective on Verizon Communications and gave the company a “hold” rating in a research note on Friday, October 25th. ValuEngine raised Verizon Communications from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Finally, Guggenheim boosted their target price on Verizon Communications from $65.00 to $69.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $63.44.

In other news, EVP Craig L. Silliman sold 1,346 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $59.55, for a total value of $80,154.30. Following the transaction, the executive vice president now owns 18,637 shares of the company’s stock, valued at approximately $1,109,833.35. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Craig L. Silliman sold 1,349 shares of the stock in a transaction on Monday, October 28th. The shares were sold at an average price of $60.42, for a total value of $81,506.58. Following the completion of the transaction, the executive vice president now directly owns 19,983 shares in the company, valued at approximately $1,207,372.86. The disclosure for this sale can be found here. 0.03% of the stock is currently owned by corporate insiders.

Verizon Communications Company Profile

Verizon Communications Inc, through its subsidiaries, offers communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company's Wireless segment provides wireless voice and data services; Internet access on various notebook computers and tablets; international travel wireless services; and network access services to deliver various Internet of Things products and services, as well as offers digital advertising and digital media services platforms.

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Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

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