Verizon Communications Inc. (VZ) Holdings Cut by Voya Investment Management LLC
Voya Investment Management LLC reduced its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 0.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,881,961 shares of the cell phone carrier’s stock after selling 16,068 shares during the quarter. Voya Investment Management LLC’s holdings in Verizon Communications were worth $84,048,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Vantage Financial Partners Ltd. Inc. acquired a new stake in shares of Verizon Communications in the second quarter valued at $623,000. Franklin Parlapiano Turner & Welch LLC acquired a new stake in shares of Verizon Communications in the first quarter valued at $136,000. American Beacon Advisors Inc. acquired a new stake in shares of Verizon Communications in the first quarter valued at $140,000. Proficio Capital Partners LLC increased its stake in shares of 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 in the last quarter. Finally, Regal Wealth Group Inc. increased its stake in shares of Verizon Communications by 0.7% in the second quarter. Regal Wealth Group Inc. now owns 3,682 shares of the cell phone carrier’s stock valued at $164,000 after buying an additional 24 shares in the last quarter. Hedge funds and other institutional investors own 63.37% of the company’s stock.
Verizon Communications Inc. (NYSE:VZ) traded up $0.67 during trading on Friday, reaching $51.09. The company had a trading volume of 13,556,061 shares, compared to its average volume of 17,438,778. The company has a market capitalization of $205,685.41, a PE ratio of 13.44, a price-to-earnings-growth ratio of 4.74 and a beta of 0.57. Verizon Communications Inc. has a fifty-two week low of $42.80 and a fifty-two week high of $54.83. The company has a debt-to-equity ratio of 4.05, a quick ratio of 1.02 and a current ratio of 1.07.
Verizon Communications (NYSE:VZ) last issued its earnings results on Thursday, October 19th. The cell phone carrier reported $0.98 earnings per share (EPS) for the quarter, hitting the Zacks’ 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 analysts’ expectations of $31.45 billion. During the same quarter last year, the business earned $1.01 earnings per share. The company’s revenue was up 2.5% compared to the same quarter last year. research analysts predict that Verizon Communications Inc. will post 3.77 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 4.62%. The ex-dividend date of this dividend is Tuesday, January 9th. Verizon Communications’s dividend payout ratio (DPR) is currently 60.51%.
In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of the firm’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $47.41, for a total transaction of $28,920.10. Following the transaction, the executive vice president now owns 3,269 shares in the company, valued at $154,983.29. The sale was disclosed in a document filed with the SEC, which is available through this link. In the last 90 days, insiders have sold 1,830 shares of company stock worth $88,609. Company insiders own 0.13% of the company’s stock.
A number of brokerages have recently weighed in on VZ. ValuEngine upgraded Verizon Communications from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Robert W. Baird restated a “hold” rating and issued a $49.00 target price on shares of Verizon Communications in a research note on Wednesday, October 4th. Macquarie restated a “hold” rating and issued a $52.00 target price on shares of Verizon Communications in a research note on Sunday, October 22nd. KeyCorp restated a “hold” rating on shares of Verizon Communications in a research note on Saturday, October 21st. Finally, Bank of America set a $52.00 target price on Verizon Communications and gave the company a “buy” rating in a research note on Friday, October 20th. Two equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $51.25.
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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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