Verizon Communications Inc. (VZ) Shares Bought by Pineno Levin & Ford Asset Management Inc.
Pineno Levin & Ford Asset Management Inc. increased its holdings in Verizon Communications Inc. (NYSE:VZ) by 0.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,588 shares of the cell phone carrier’s stock after purchasing an additional 17 shares during the period. Pineno Levin & Ford Asset Management Inc.’s holdings in Verizon Communications were worth $1,411,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. State Street Corp raised its holdings in shares of Verizon Communications by 1.2% during the 1st quarter. State Street Corp now owns 168,115,884 shares of the cell phone carrier’s stock worth $8,195,661,000 after acquiring an additional 2,066,816 shares in the last quarter. Harbour Capital Advisors LLC raised its holdings in shares of Verizon Communications by 3,914.3% during the 2nd quarter. Harbour Capital Advisors LLC now owns 1,310,548 shares of the cell phone carrier’s stock worth $29,345,000 after acquiring an additional 1,277,901 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in shares of Verizon Communications by 6.9% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 18,125,956 shares of the cell phone carrier’s stock worth $883,641,000 after acquiring an additional 1,167,752 shares in the last quarter. Flossbach Von Storch AG raised its holdings in shares of Verizon Communications by 139.2% during the 2nd quarter. Flossbach Von Storch AG now owns 1,982,895 shares of the cell phone carrier’s stock worth $88,556,000 after acquiring an additional 1,153,770 shares in the last quarter. Finally, Beutel Goodman & Co Ltd. raised its holdings in shares of Verizon Communications by 22.5% during the 2nd quarter. Beutel Goodman & Co Ltd. now owns 5,339,889 shares of the cell phone carrier’s stock worth $183,686,000 after acquiring an additional 981,409 shares in the last quarter. 62.08% of the stock is currently owned by institutional investors.
Verizon Communications Inc. (NYSE:VZ) opened at 47.83 on Tuesday. The company has a market cap of $195.12 billion, a P/E ratio of 12.30 and a beta of 0.56. Verizon Communications Inc. has a 12 month low of $42.80 and a 12 month high of $54.83. The firm has a 50-day moving average price of $48.78 and a 200 day moving average price of $47.00.
Verizon Communications (NYSE:VZ) last posted its earnings results on Thursday, October 19th. The cell phone carrier reported $0.98 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.98. The company had revenue of $31.70 billion during the quarter, compared to analysts’ expectations of $31.45 billion. Verizon Communications had a return on equity of 58.66% and a net margin of 12.80%. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.01 earnings per share. Equities research analysts predict that Verizon Communications Inc. will post $3.76 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th will be paid a dividend of $0.59 per share. This is a boost from Verizon Communications’s previous quarterly dividend of $0.58. The ex-dividend date is Friday, October 6th. This represents a $2.36 annualized dividend and a yield of 4.93%. Verizon Communications’s dividend payout ratio (DPR) is 60.51%.
In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of the firm’s stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $49.23, for a total transaction of $30,030.30. Following the completion of the sale, the executive vice president now owns 6,599 shares of the company’s stock, valued at $324,868.77. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.13% of the stock is owned by company insiders.
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VZ has been the topic of several recent research reports. Vetr raised Verizon Communications from a “buy” rating to a “strong-buy” rating and set a $50.65 price objective on the stock in a report on Wednesday, July 5th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $48.00 price objective on shares of Verizon Communications in a report on Sunday, July 9th. Zacks Investment Research raised Verizon Communications from a “sell” rating to a “hold” rating in a report on Friday, July 7th. BidaskClub raised Verizon Communications from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Finally, Bank of America Corporation decreased their price objective on Verizon Communications from $59.00 to $50.00 and set a “buy” rating on the stock in a report on Thursday, July 13th. Two investment analysts have rated the stock with a sell rating, twenty have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $52.75.
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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