Verizon Communications Inc. (VZ) Shares Bought by ETRADE Capital Management LLC
ETRADE Capital Management LLC boosted its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 9.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 175,325 shares of the cell phone carrier’s stock after purchasing an additional 15,063 shares during the quarter. Verizon Communications accounts for approximately 0.3% of ETRADE Capital Management LLC’s holdings, making the stock its 26th biggest position. ETRADE Capital Management LLC’s holdings in Verizon Communications were worth $8,677,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in VZ. Legacy Advisors LLC acquired a new position in Verizon Communications during the 3rd quarter valued at $132,000. Shine Investment Advisory Services Inc. raised its stake in Verizon Communications by 190.9% during the 3rd quarter. Shine Investment Advisory Services Inc. now owns 2,705 shares of the cell phone carrier’s stock valued at $134,000 after purchasing an additional 1,775 shares during the last quarter. Private Vista LLC raised its stake in Verizon Communications by 3,339.1% during the 2nd quarter. Private Vista LLC now owns 389,552 shares of the cell phone carrier’s stock valued at $143,000 after purchasing an additional 378,225 shares during the last quarter. Mountain Capital Investment Advisors Inc acquired a new position in Verizon Communications during the 2nd quarter valued at $156,000. Finally, Regal Wealth Group Inc. raised its stake in Verizon Communications by 0.7% during the 2nd quarter. Regal Wealth Group Inc. now owns 3,682 shares of the cell phone carrier’s stock valued at $164,000 after purchasing an additional 24 shares during the last quarter. Hedge funds and other institutional investors 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 dated Monday, November 27th. The shares were sold at an average price of $47.41, for a total value of $28,920.10. Following the sale, the executive vice president now owns 3,269 shares of the company’s stock, valued at approximately $154,983.29. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.13% of the stock is currently owned by corporate insiders.
Verizon Communications (NYSE:VZ) last posted its earnings results 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 firm had revenue of $33.96 billion during the quarter, compared to the consensus estimate of $33.20 billion. During the same period in the previous year, the company posted $0.86 EPS. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. research analysts expect that Verizon Communications Inc. will post 4.54 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 4.73%. The ex-dividend date of this dividend was Tuesday, January 9th. Verizon Communications’s payout ratio is 32.07%.
A number of equities analysts have recently issued reports on the stock. KeyCorp increased their price objective on shares of Verizon Communications from $50.00 to $53.00 and gave the company a “sector weight” rating in a research note on Tuesday, January 2nd. Macquarie restated a “hold” rating and issued a $54.00 price objective on shares of Verizon Communications in a research note on Wednesday, January 24th. SunTrust Banks increased their price objective on shares of Verizon Communications to $58.00 and gave the company a “hold” rating in a research note on Wednesday, January 24th. Bank of America increased their price objective on shares of Verizon Communications from $55.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday, January 24th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Verizon Communications from $52.00 to $58.00 and gave the company a “neutral” rating in a research note on Wednesday, January 24th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $53.37.
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Verizon Communications Company 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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