IFM Investors Pty Ltd Has $13.47 Million Holdings in Verizon Communications Inc. (VZ)
IFM Investors Pty Ltd boosted its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 9.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 239,622 shares of the cell phone carrier’s stock after buying an additional 21,530 shares during the quarter. Verizon Communications comprises 1.1% of IFM Investors Pty Ltd’s portfolio, making the stock its 15th biggest holding. IFM Investors Pty Ltd’s holdings in Verizon Communications were worth $13,472,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of the business. Daiwa SB Investments Ltd. lifted its stake in shares of Verizon Communications by 120.0% in the fourth quarter. Daiwa SB Investments Ltd. now owns 880 shares of the cell phone carrier’s stock valued at $49,000 after buying an additional 480 shares during the period. Advisors Preferred LLC bought a new stake in shares of Verizon Communications in the fourth quarter valued at about $66,000. Advocacy Wealth Management Services LLC lifted its stake in shares of Verizon Communications by 25.9% in the fourth quarter. Advocacy Wealth Management Services LLC now owns 1,265 shares of the cell phone carrier’s stock valued at $71,000 after buying an additional 260 shares during the period. Mackey Komara & Dankovich LLC bought a new stake in shares of Verizon Communications in the fourth quarter valued at about $86,000. Finally, Highwater Wealth Management LLC bought a new stake in shares of Verizon Communications in the fourth quarter valued at about $87,000. 66.97% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts recently weighed in on VZ shares. Tigress Financial reiterated a “hold” rating on shares of Verizon Communications in a research note on Friday, December 28th. ValuEngine cut shares of Verizon Communications from a “buy” rating to a “hold” rating in a research note on Tuesday, January 29th. Finally, Zacks Investment Research upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research note on Saturday, January 26th. Nine analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $56.07.
Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Tuesday, January 29th. The cell phone carrier reported $1.12 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.09 by $0.03. The company had revenue of $34.28 billion during the quarter, compared to analyst estimates of $34.45 billion. Verizon Communications had a net margin of 11.87% and a return on equity of 35.96%. The company’s revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the business posted $0.86 earnings per share. As a group, sell-side analysts anticipate that Verizon Communications Inc. will post 4.66 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be issued a dividend of $0.6025 per share. This represents a $2.41 annualized dividend and a dividend yield of 4.15%. The ex-dividend date of this dividend is Tuesday, April 9th. Verizon Communications’s payout ratio is 51.17%.
In other news, EVP Craig L. Silliman sold 1,349 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $60.30, for a total transaction of $81,344.70. Following the completion of the sale, the executive vice president now owns 29,426 shares of the company’s stock, valued at $1,774,387.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Lowell C. Mcadam sold 285,988 shares of the firm’s stock in a transaction that occurred on Tuesday, February 26th. The stock was sold at an average price of $56.72, for a total transaction of $16,221,239.36. Following the sale, the director now directly owns 362,932 shares of the company’s stock, valued at approximately $20,585,503.04. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 288,686 shares of company stock valued at $16,379,639. Company insiders own 0.03% of the company’s stock.
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About Verizon Communications
Verizon Communications, Inc is a holding company, which engages in the provision communications, information and entertainment products and services to consumers, businesses and governmental agencies. It operates through Wireless and Wireline segments. The Wireless segment provides wireless voice and data services and equipment sales, which are provided to consumer, business, and government customers.
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