Verizon Communications Inc. (VZ) Position Lessened by American Century Companies Inc.
American Century Companies Inc. trimmed its position in shares of Verizon Communications Inc. (NYSE:VZ) by 2.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 9,411,335 shares of the cell phone carrier’s stock after selling 196,698 shares during the period. American Century Companies Inc.’s holdings in Verizon Communications were worth $465,767,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of VZ. Boltwood Capital Management boosted its position in Verizon Communications by 1.0% during the 2nd quarter. Boltwood Capital Management now owns 32,520 shares of the cell phone carrier’s stock valued at $1,452,000 after acquiring an additional 331 shares in the last quarter. Trust Co lifted its holdings in shares of Verizon Communications by 3.1% during the first quarter. Trust Co now owns 77,225 shares of the cell phone carrier’s stock valued at $3,764,000 after purchasing an additional 2,303 shares during the last quarter. Beacon Financial Group lifted its holdings in shares of Verizon Communications by 4.0% during the second quarter. Beacon Financial Group now owns 180,977 shares of the cell phone carrier’s stock valued at $8,037,000 after purchasing an additional 7,019 shares during the last quarter. Conservest Capital Advisors Inc. lifted its holdings in shares of Verizon Communications by 0.5% during the second quarter. Conservest Capital Advisors Inc. now owns 5,024 shares of the cell phone carrier’s stock valued at $224,000 after purchasing an additional 23 shares during the last quarter. Finally, First Command Bank lifted its holdings in shares of Verizon Communications by 63.4% during the second quarter. First Command Bank now owns 41,220 shares of the cell phone carrier’s stock valued at $1,842,000 after purchasing an additional 15,991 shares during the last quarter. 63.22% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have recently issued reports on VZ shares. Nomura upgraded shares of Verizon Communications from a “neutral” rating to a “buy” rating and lifted their target price for the company from $47.00 to $61.00 in a report on Tuesday, December 12th. KeyCorp reiterated a “hold” rating on shares of Verizon Communications in a report on Saturday, October 21st. Cowen reiterated a “hold” rating and set a $52.00 target price on shares of Verizon Communications in a report on Tuesday, September 19th. Macquarie reiterated a “hold” rating and set a $52.00 target price on shares of Verizon Communications in a report on Sunday, October 22nd. Finally, ValuEngine upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Two equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $51.98.
Verizon Communications Inc. (NYSE:VZ) opened at $51.86 on Tuesday. The firm has a market cap of $211,560.00, a P/E ratio of 13.30, a P/E/G ratio of 4.68 and a beta of 0.57. The company has a debt-to-equity ratio of 4.05, a current ratio of 1.07 and a quick ratio of 1.02. Verizon Communications Inc. has a 1-year low of $42.80 and a 1-year high of $53.69.
Verizon Communications (NYSE:VZ) last announced its earnings results on Thursday, October 19th. The cell phone carrier reported $0.98 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.98. The business had revenue of $31.70 billion during the quarter, compared to analyst estimates of $31.45 billion. Verizon Communications had a net margin of 12.80% and a return on equity of 58.66%. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.01 EPS. analysts anticipate that Verizon Communications Inc. will post 3.77 earnings per share for the current 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 paid a dividend of $0.59 per share. The ex-dividend date is Tuesday, January 9th. This represents a $2.36 dividend on an annualized basis and a yield of 4.55%. Verizon Communications’s dividend payout ratio is presently 60.51%.
In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of the business’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $48.62, for a total transaction of $29,658.20. Following the completion of the sale, the executive vice president now directly owns 5,989 shares in the company, valued at approximately $291,185.18. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.13% of the stock is currently owned by insiders.
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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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