Strs Ohio Has $138.88 Million Stake in Verizon Communications Inc. (VZ)
Strs Ohio reduced its position in Verizon Communications Inc. (NYSE:VZ) by 4.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,109,706 shares of the cell phone carrier’s stock after selling 157,085 shares during the period. Verizon Communications comprises approximately 0.6% of Strs Ohio’s holdings, making the stock its 27th largest position. Strs Ohio owned approximately 0.08% of Verizon Communications worth $138,879,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Allegis Investment Advisors LLC grew its position in Verizon Communications by 9.0% during the first 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 in the last quarter. Excalibur Management Corp grew its position in Verizon Communications by 5.7% during the first quarter. Excalibur Management Corp now owns 123,976 shares of the cell phone carrier’s stock valued at $6,044,000 after purchasing an additional 6,723 shares in the last quarter. Segantii Capital Management Ltd purchased a new position in Verizon Communications during the first quarter valued at approximately $6,094,000. Cascade Investment Advisors Inc. grew its position in Verizon Communications by 0.4% during the first 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 in the last quarter. Finally, Carret Asset Management LLC grew its position in Verizon Communications by 1.5% during the first 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 in the last quarter. 62.24% of the stock is currently owned by institutional investors and hedge funds.
ILLEGAL ACTIVITY WARNING: “Strs Ohio Has $138.88 Million Stake in Verizon Communications Inc. (VZ)” was first published by Watch List News and is owned by of Watch List News. If you are accessing this news story on another site, it was illegally copied and reposted in violation of international trademark & copyright legislation. The correct version of this news story can be viewed at https://www.watchlistnews.com/strs-ohio-has-138-88-million-stake-in-verizon-communications-inc-vz/1614203.html.
Shares of Verizon Communications Inc. (VZ) opened at 48.81 on Friday. The company has a market cap of $199.12 billion, a price-to-earnings ratio of 12.55 and a beta of 0.56. The firm has a 50-day moving average of $48.39 and a 200 day moving average of $47.08. Verizon Communications Inc. has a one year low of $42.80 and a one year high of $54.83. Verizon Communications also saw unusually large options trading on Thursday. Traders acquired 87,567 call options on the company. This is an increase of approximately 524% compared to the typical volume of 14,028 call options.
Verizon Communications (NYSE:VZ) last posted its earnings results on Thursday, July 27th. The cell phone carrier reported $0.96 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.96. Verizon Communications had a return on equity of 63.06% and a net margin of 12.88%. The company had revenue of $30.55 billion during the quarter, compared to the consensus estimate of $29.84 billion. During the same quarter last year, the firm earned $0.94 earnings per share. The company’s revenue was up .1% on a year-over-year basis. Equities research analysts anticipate that Verizon Communications Inc. will post $3.76 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th will be issued a dividend of $0.59 per share. The ex-dividend date of this dividend is Friday, October 6th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.84%. This is an increase from Verizon Communications’s previous quarterly dividend of $0.58. Verizon Communications’s dividend payout ratio (DPR) is currently 59.23%.
A number of brokerages recently commented on VZ. TheStreet raised shares of Verizon Communications from a “c+” rating to a “b-” rating in a research report on Tuesday, August 8th. Bank of America Corporation reaffirmed a “buy” rating on shares of Verizon Communications in a research report on Saturday, June 17th. Robert W. Baird reaffirmed a “hold” rating and set a $49.00 price objective on shares of Verizon Communications in a research report on Wednesday. Cowen and Company reaffirmed a “hold” rating and set a $52.00 price objective on shares of Verizon Communications in a research report on Tuesday, September 19th. Finally, Royal Bank Of Canada boosted their price objective on shares of Verizon Communications from $48.00 to $50.00 and gave the company a “sector perform” rating in a research report on Monday, July 31st. Two analysts have rated the stock with a sell rating, twenty-one have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Verizon Communications currently has a consensus rating of “Hold” and a consensus price target of $52.86.
In related news, EVP Craig L. Silliman sold 610 shares of the business’s 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 completion of the transaction, the executive vice president now owns 6,599 shares of the company’s stock, valued at $324,868.77. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have sold 1,830 shares of company stock valued at $88,828 in the last three months. 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.
Receive News & Ratings for Verizon Communications Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verizon Communications Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.