Verizon Communications Inc. (VZ) Shares Bought by TD Asset Management Inc.
TD Asset Management Inc. boosted its holdings in Verizon Communications Inc. (NYSE:VZ) by 1.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,199,986 shares of the cell phone carrier’s stock after purchasing an additional 51,000 shares during the quarter. TD Asset Management Inc.’s holdings in Verizon Communications were worth $207,857,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Legacy Advisors LLC bought a new stake in shares of Verizon Communications during the third quarter valued at approximately $132,000. Shine Investment Advisory Services Inc. increased its holdings in shares of Verizon Communications by 190.9% during the third quarter. Shine Investment Advisory Services Inc. now owns 2,705 shares of the cell phone carrier’s stock valued at $134,000 after acquiring an additional 1,775 shares in the last quarter. Private Vista LLC increased its holdings in shares of Verizon Communications by 3,339.1% during the second quarter. Private Vista LLC now owns 389,552 shares of the cell phone carrier’s stock valued at $143,000 after acquiring an additional 378,225 shares in the last quarter. Mountain Capital Investment Advisors Inc bought a new stake in shares of Verizon Communications during the second quarter valued at approximately $156,000. Finally, Regal Wealth Group Inc. increased its holdings in shares of Verizon Communications by 0.7% during the second quarter. Regal Wealth Group Inc. now owns 3,682 shares of the cell phone carrier’s stock valued at $164,000 after acquiring an additional 24 shares in the last quarter. Institutional investors and hedge funds own 63.26% of the company’s stock.
In other news, EVP Craig L. Silliman sold 610 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at approximately $154,983.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.13% of the stock is owned by corporate insiders.
Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Tuesday, January 23rd. The cell phone carrier reported $0.86 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by ($0.02). Verizon Communications had a return on equity of 48.97% and a net margin of 23.88%. The business had revenue of $33.96 billion during the quarter, compared to analysts’ expectations of $33.20 billion. During the same period in the prior year, the firm posted $0.86 EPS. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. equities analysts expect that Verizon Communications Inc. will post 4.54 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, January 9th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.81%. Verizon Communications’s dividend payout ratio is presently 32.07%.
Several research firms have recently commented on VZ. KeyCorp boosted their price objective on Verizon Communications from $50.00 to $53.00 and gave the company a “sector weight” rating in a report on Tuesday, January 2nd. Macquarie restated a “hold” rating and set a $54.00 price objective on shares of Verizon Communications in a report on Wednesday, January 24th. SunTrust Banks boosted their price objective on Verizon Communications to $58.00 and gave the company a “hold” rating in a report on Wednesday, January 24th. Bank of America boosted their price objective on Verizon Communications from $55.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. Finally, JPMorgan Chase & Co. boosted their price objective on Verizon Communications from $52.00 to $58.00 and gave the company a “neutral” rating in a report on Wednesday, January 24th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $53.37.
Verizon Communications 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.
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