GAM Holding AG Grows Holdings in Verizon Communications Inc. (VZ)
GAM Holding AG grew its position in Verizon Communications Inc. (NYSE:VZ) by 0.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 692,316 shares of the cell phone carrier’s stock after acquiring an additional 5,504 shares during the quarter. GAM Holding AG’s holdings in Verizon Communications were worth $30,919,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently added to or reduced their stakes in the company. Whitnell & Co. increased its position in shares of Verizon Communications by 1.2% during the 2nd quarter. Whitnell & Co. now owns 10,316 shares of the cell phone carrier’s stock valued at $461,000 after purchasing an additional 125 shares during the last quarter. Allegis Investment Advisors LLC increased its position in shares of Verizon Communications by 9.0% during the 1st quarter. Allegis Investment Advisors LLC now owns 59,067 shares of the cell phone carrier’s stock valued at $2,880,000 after purchasing an additional 4,898 shares during the last quarter. Segantii Capital Management Ltd bought a new position in shares of Verizon Communications during the 1st quarter valued at approximately $6,094,000. Cascade Investment Advisors Inc. increased its position in shares of Verizon Communications by 0.4% during the 1st quarter. Cascade Investment Advisors Inc. now owns 33,945 shares of the cell phone carrier’s stock valued at $1,655,000 after purchasing an additional 125 shares during the last quarter. Finally, Carret Asset Management LLC increased its position in shares of Verizon Communications by 1.5% during the 1st quarter. Carret Asset Management LLC now owns 177,172 shares of the cell phone carrier’s stock valued at $8,637,000 after purchasing an additional 2,606 shares during the last quarter. 63.19% of the stock is currently owned by institutional investors and hedge funds.
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Several equities analysts have commented on VZ shares. TheStreet raised Verizon Communications from a “c+” rating to a “b-” rating in a research report on Tuesday, August 8th. Moffett Nathanson reaffirmed a “buy” rating on shares of Verizon Communications in a research report 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 report on Tuesday, September 19th. Wells Fargo & Company raised Verizon Communications from a “market perform” rating to an “outperform” rating and set a $50.00 price objective on the stock in a research report on Monday. Finally, KeyCorp reaffirmed a “hold” rating on shares of Verizon Communications in a research report on Wednesday, October 11th. Two investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $51.25.
Verizon Communications Inc. (NYSE:VZ) opened at $47.10 on Thursday. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 4.05. The firm has a market capitalization of $192,140.00, a PE ratio of 12.32, a PEG ratio of 4.34 and a beta of 0.55. Verizon Communications Inc. has a 1-year low of $42.80 and a 1-year high of $54.83.
Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Thursday, October 19th. The cell phone carrier reported $0.98 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.98. The business had revenue of $31.70 billion for the quarter, compared to analyst estimates of $31.45 billion. Verizon Communications had a return on equity of 58.66% and a net margin of 12.80%. The company’s revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.01 earnings per share. sell-side analysts anticipate that Verizon Communications Inc. will post 3.77 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th were issued a $0.59 dividend. The ex-dividend date of this dividend was Friday, October 6th. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.58. This represents a $2.36 dividend on an annualized basis and a dividend yield of 5.01%. Verizon Communications’s dividend payout ratio is currently 60.51%.
In other news, EVP Craig L. Silliman sold 610 shares of the stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $49.23, for a total value of $30,030.30. Following the transaction, the executive vice president now directly owns 6,599 shares of the company’s stock, valued at $324,868.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 1,830 shares of company stock worth $89,365 over the last three months. Corporate insiders own 0.13% of the company’s stock.
Verizon Communications Company Profile
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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