LeJeune Puetz Investment Counsel LLC Raises Position in Verizon Communications Inc. (VZ)
LeJeune Puetz Investment Counsel LLC increased its position in shares of Verizon Communications Inc. (NYSE:VZ) by 4.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 30,906 shares of the cell phone carrier’s stock after purchasing an additional 1,200 shares during the quarter. LeJeune Puetz Investment Counsel LLC’s holdings in Verizon Communications were worth $1,530,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Whitnell & Co. boosted its stake in Verizon Communications by 1.2% during the second quarter. Whitnell & Co. now owns 10,316 shares of the cell phone carrier’s stock worth $461,000 after buying an additional 125 shares during the last quarter. Caxton Associates LP acquired a new position in Verizon Communications during the second quarter worth $607,000. DekaBank Deutsche Girozentrale boosted its stake in Verizon Communications by 4.6% during the second quarter. DekaBank Deutsche Girozentrale now owns 1,673,761 shares of the cell phone carrier’s stock worth $74,961,000 after buying an additional 72,980 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in Verizon Communications by 1.3% during the second quarter. Canada Pension Plan Investment Board now owns 10,704,239 shares of the cell phone carrier’s stock worth $478,051,000 after buying an additional 136,700 shares during the last quarter. Finally, Alps Advisors Inc. boosted its stake in Verizon Communications by 5.2% during the second quarter. Alps Advisors Inc. now owns 1,018,021 shares of the cell phone carrier’s stock worth $45,465,000 after buying an additional 50,602 shares during the last quarter. Hedge funds and other institutional investors own 63.22% of the company’s stock.
In related news, EVP Craig L. Silliman sold 610 shares of the stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $48.62, for a total transaction of $29,658.20. Following the transaction, the executive vice president now owns 5,989 shares of the company’s stock, valued at approximately $291,185.18. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.13% of the stock is currently owned by corporate insiders.
Verizon Communications Inc. (NYSE:VZ) opened at $52.48 on Friday. Verizon Communications Inc. has a 12 month low of $42.80 and a 12 month high of $53.78. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 4.05. The stock has a market capitalization of $214,090.00, a PE ratio of 13.46, a P/E/G ratio of 4.81 and a beta of 0.57.
Verizon Communications (NYSE:VZ) last posted its earnings results on Thursday, October 19th. The cell phone carrier reported $0.98 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.98. Verizon Communications had a return on equity of 58.66% and a net margin of 12.80%. The firm had revenue of $31.70 billion for the quarter, compared to analyst estimates of $31.45 billion. During the same quarter in the prior year, the company earned $1.01 EPS. Verizon Communications’s revenue was up 2.5% on a year-over-year basis. analysts forecast that Verizon Communications Inc. will post 3.77 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Wednesday, January 10th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 4.50%. The ex-dividend date of this dividend is Tuesday, January 9th. Verizon Communications’s payout ratio is 60.51%.
A number of equities analysts have weighed in on the company. KeyCorp boosted their price objective on Verizon Communications from $50.00 to $53.00 and gave the stock a “sector weight” rating in a research note on Tuesday, January 2nd. HSBC lowered Verizon Communications from a “buy” rating to a “hold” rating and decreased their price target for the company from $54.83 to $42.80 in a research note on Thursday, December 14th. They noted that the move was a valuation call. Instinet upped their price target on Verizon Communications from $47.00 to $61.00 and gave the company a “buy” rating in a research note on Tuesday, December 12th. Nomura raised Verizon Communications from a “neutral” rating to a “buy” rating and upped their price target for the company from $47.00 to $61.00 in a research note on Tuesday, December 12th. Finally, ValuEngine raised Verizon Communications from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Two equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $51.98.
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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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