Verizon Communications Inc. (VZ) is Princeton Capital Management LLC’s 8th Largest Position
Princeton Capital Management LLC lessened its holdings in Verizon Communications Inc. (NYSE:VZ) by 3.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 139,705 shares of the cell phone carrier’s stock after selling 4,800 shares during the quarter. Verizon Communications makes up about 3.1% of Princeton Capital Management LLC’s holdings, making the stock its 8th largest position. Princeton Capital Management LLC’s holdings in Verizon Communications were worth $7,459,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of VZ. Charles Schwab Investment Advisory Inc. purchased a new position in Verizon Communications in the second quarter valued at $353,508,000. Boston Partners boosted its stake in Verizon Communications by 133.5% in the second quarter. Boston Partners now owns 10,503,382 shares of the cell phone carrier’s stock valued at $528,426,000 after acquiring an additional 6,005,801 shares in the last quarter. FMR LLC boosted its stake in Verizon Communications by 8.6% in the second quarter. FMR LLC now owns 69,165,256 shares of the cell phone carrier’s stock valued at $3,479,704,000 after acquiring an additional 5,481,532 shares in the last quarter. MERIAN GLOBAL INVESTORS UK Ltd boosted its stake in Verizon Communications by 1,824.4% in the third quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 5,743,306 shares of the cell phone carrier’s stock valued at $306,635,000 after acquiring an additional 5,444,863 shares in the last quarter. Finally, Sanders Capital LLC acquired a new position in Verizon Communications in the third quarter valued at $243,064,000. 64.92% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have issued reports on the stock. ValuEngine upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating in a research note on Wednesday, October 24th. JPMorgan Chase & Co. downgraded shares of Verizon Communications from an “overweight” rating to a “neutral” rating and set a $62.00 price objective for the company. in a research note on Monday, December 3rd. Bank of America restated a “buy” rating and issued a $58.00 price objective on shares of Verizon Communications in a research note on Monday, October 22nd. Zacks Investment Research upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a research note on Saturday, January 26th. Finally, Tigress Financial restated a “hold” rating on shares of Verizon Communications in a research note on Friday, December 28th. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Verizon Communications has an average rating of “Buy” and an average target price of $55.90.
Verizon Communications (NYSE:VZ) last announced its earnings results on Tuesday, January 29th. The cell phone carrier reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.03. Verizon Communications had a net margin of 11.87% and a return on equity of 35.96%. The business had revenue of $34.28 billion during the quarter, compared to the consensus estimate of $34.45 billion. During the same quarter in the prior year, the firm earned $0.86 earnings per share. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Verizon Communications Inc. will post 4.66 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, February 1st. Stockholders of record on Thursday, January 10th were paid a dividend of $0.6025 per share. The ex-dividend date was Wednesday, January 9th. This represents a $2.41 annualized dividend and a dividend yield of 4.47%. Verizon Communications’s dividend payout ratio (DPR) is 51.17%.
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Verizon Communications Profile
Verizon Communications Inc, through its subsidiaries, offers communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company's Wireless segment provides wireless voice and data services; Internet access on various notebook computers and tablets; multimedia, business-focused, and location-based services, as well as international travel services; and network access services to deliver various Internet of Things products and services.
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