Swedbank AB Has $301.72 Million Position in Verizon Communications Inc. $VZ

Swedbank AB boosted its holdings in Verizon Communications Inc. (NYSE:VZFree Report) by 0.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,865,063 shares of the cell phone carrier’s stock after acquiring an additional 34,584 shares during the period. Swedbank AB’s holdings in Verizon Communications were worth $301,720,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. BayBridge Capital Group LLC grew its position in shares of Verizon Communications by 3.9% in the third quarter. BayBridge Capital Group LLC now owns 35,140 shares of the cell phone carrier’s stock valued at $1,544,000 after purchasing an additional 1,304 shares during the last quarter. Optas LLC grew its holdings in Verizon Communications by 5.9% in the 3rd quarter. Optas LLC now owns 15,502 shares of the cell phone carrier’s stock valued at $681,000 after buying an additional 860 shares in the last quarter. Cypress Wealth Services LLC grew its holdings in Verizon Communications by 3.4% in the 3rd quarter. Cypress Wealth Services LLC now owns 19,999 shares of the cell phone carrier’s stock valued at $879,000 after buying an additional 661 shares in the last quarter. Vontobel Holding Ltd. increased its position in Verizon Communications by 19.9% during the 3rd quarter. Vontobel Holding Ltd. now owns 1,622,737 shares of the cell phone carrier’s stock worth $71,319,000 after buying an additional 269,734 shares during the period. Finally, Strong Tower Advisory Services lifted its holdings in shares of Verizon Communications by 10.8% during the third quarter. Strong Tower Advisory Services now owns 59,951 shares of the cell phone carrier’s stock worth $2,635,000 after buying an additional 5,829 shares in the last quarter. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

VZ has been the topic of several research reports. TD Cowen decreased their price target on shares of Verizon Communications from $56.00 to $51.00 and set a “buy” rating on the stock in a research note on Thursday, October 30th. BNP Paribas lowered shares of Verizon Communications from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 21st. BNP Paribas Exane cut shares of Verizon Communications from an “outperform” rating to a “neutral” rating and set a $44.00 target price on the stock. in a report on Tuesday, October 21st. Morgan Stanley cut their price target on Verizon Communications from $48.00 to $47.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 10th. Finally, Weiss Ratings downgraded Verizon Communications from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 24th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $47.47.

Get Our Latest Stock Report on Verizon Communications

Verizon Communications Stock Down 0.1%

Shares of VZ opened at $39.96 on Wednesday. The firm has a 50 day simple moving average of $40.37 and a two-hundred day simple moving average of $42.07. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.74 and a quick ratio of 0.69. Verizon Communications Inc. has a one year low of $37.58 and a one year high of $47.35. The company has a market cap of $168.47 billion, a P/E ratio of 8.54, a P/E/G ratio of 3.57 and a beta of 0.33.

Verizon Communications (NYSE:VZGet Free Report) last issued its quarterly earnings results on Wednesday, October 29th. The cell phone carrier reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.02. Verizon Communications had a return on equity of 19.31% and a net margin of 14.43%.The company had revenue of $33.82 billion for the quarter, compared to analyst estimates of $34.19 billion. During the same quarter last year, the company posted $1.19 EPS. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. Research analysts forecast that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 12th will be given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 6.9%. The ex-dividend date is Monday, January 12th. Verizon Communications’s payout ratio is currently 58.97%.

Key Verizon Communications News

Here are the key news stories impacting Verizon Communications this week:

About Verizon Communications

(Free Report)

Verizon Communications Inc (NYSE: VZ) is a major U.S.-based telecommunications company that provides a broad range of communications and information services. Its operations span consumer and business markets, with core offerings that include wireless voice and data services, fixed-line broadband and fiber-optic services, and enterprise networking solutions. Verizon is headquartered in New York City and operates a nationwide wireless network that supports consumer subscribers as well as business and government customers.

The company’s consumer products include mobile phone plans, unlimited data services, and Fios, its branded fiber-optic internet, television and voice service for homes and small businesses.

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Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

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