Mn Services Vermogensbeheer B.V. Has $29.87 Million Position in Verizon Communications Inc. (VZ)
Mn Services Vermogensbeheer B.V. increased its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 514.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 668,796 shares of the cell phone carrier’s stock after acquiring an additional 559,943 shares during the period. Verizon Communications comprises approximately 0.8% of Mn Services Vermogensbeheer B.V.’s investment portfolio, making the stock its 22nd largest holding. Mn Services Vermogensbeheer B.V.’s holdings in Verizon Communications were worth $29,868,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in VZ. Franklin Parlapiano Turner & Welch LLC bought a new stake in Verizon Communications in the first quarter valued at approximately $136,000. American Beacon Advisors Inc. bought a new stake in Verizon Communications in the first quarter valued at approximately $140,000. Proficio Capital Partners LLC raised its stake in Verizon Communications by 139.8% in the first quarter. Proficio Capital Partners LLC now owns 3,158 shares of the cell phone carrier’s stock valued at $142,000 after buying an additional 1,841 shares during the period. Feltz Wealth PLAN Inc. bought a new stake in Verizon Communications in the first quarter valued at approximately $184,000. Finally, Youngs Advisory Group Inc. raised its stake in Verizon Communications by 4.6% in the second quarter. Youngs Advisory Group Inc. now owns 4,507 shares of the cell phone carrier’s stock valued at $201,000 after buying an additional 200 shares during the period. Institutional investors and hedge funds own 62.24% of the company’s stock.
Several analysts have issued reports on the company. Bank of America Corporation restated a “buy” rating on shares of Verizon Communications in a research note on Saturday, June 17th. TheStreet upgraded Verizon Communications from a “c+” rating to a “b-” rating in a research note on Tuesday, August 8th. Cowen and Company restated a “hold” rating and issued a $52.00 price objective on shares of Verizon Communications in a research note on Friday, July 28th. Robert W. Baird restated a “hold” rating and issued a $49.00 price objective on shares of Verizon Communications in a research note on Wednesday. Finally, Barclays PLC dropped their price objective on Verizon Communications from $49.00 to $47.00 and set an “equal weight” rating on the stock in a research note on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $52.86.
Verizon Communications Inc. (VZ) traded down 0.75% during midday trading on Friday, reaching $48.81. The company’s stock had a trading volume of 13,239,635 shares. The stock has a 50-day moving average price of $48.39 and a 200 day moving average price of $47.08. Verizon Communications Inc. has a 12 month low of $42.80 and a 12 month high of $54.83. The company has a market cap of $199.12 billion, a PE ratio of 12.55 and a beta of 0.56. Verizon Communications also was the recipient of some unusual options trading activity on Thursday. Stock traders bought 87,567 call options on the company. This represents an increase of 524% compared to the average daily volume of 14,028 call options.
Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Thursday, July 27th. The cell phone carrier reported $0.96 EPS for the quarter, meeting analysts’ consensus estimates of $0.96. The firm had revenue of $30.55 billion during the quarter, compared to analyst estimates of $29.84 billion. Verizon Communications had a net margin of 12.88% and a return on equity of 63.06%. The business’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the previous year, the business earned $0.94 EPS. Analysts expect that Verizon Communications Inc. will post $3.76 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th will be given a dividend of $0.59 per share. 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 4.84%. The ex-dividend date is Friday, October 6th. Verizon Communications’s payout ratio is 59.23%.
In other news, EVP Craig L. Silliman sold 610 shares of the business’s stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $49.23, for a total transaction of $30,030.30. Following the completion of the transaction, the executive vice president now directly owns 6,599 shares in the company, valued at approximately $324,868.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 1,830 shares of company stock valued at $88,828 over the last 90 days. Company insiders own 0.13% of the company’s stock.
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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