Schwab Charles Investment Management Inc. grew its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 3.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 20,140,205 shares of the cell phone carrier’s stock after buying an additional 736,645 shares during the period. Verizon Communications makes up approximately 0.9% of Schwab Charles Investment Management Inc.’s investment portfolio, making the stock its 12th largest holding. Schwab Charles Investment Management Inc.’s holdings in Verizon Communications were worth $996,739,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in VZ. Vanguard Group Inc. boosted its stake in shares of Verizon Communications by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 282,894,542 shares of the cell phone carrier’s stock worth $12,634,070,000 after acquiring an additional 5,837,702 shares in the last quarter. Capital Research Global Investors boosted its stake in shares of Verizon Communications by 15.1% during the 2nd quarter. Capital Research Global Investors now owns 153,408,016 shares of the cell phone carrier’s stock worth $6,851,202,000 after acquiring an additional 20,070,391 shares in the last quarter. FMR LLC boosted its stake in shares of Verizon Communications by 15.0% during the 2nd quarter. FMR LLC now owns 61,833,096 shares of the cell phone carrier’s stock worth $2,761,466,000 after acquiring an additional 8,077,275 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Verizon Communications by 2.7% during the 3rd quarter. Legal & General Group Plc now owns 24,495,234 shares of the cell phone carrier’s stock worth $1,212,227,000 after acquiring an additional 636,014 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of Verizon Communications by 19.9% during the 2nd quarter. Franklin Resources Inc. now owns 21,820,729 shares of the cell phone carrier’s stock worth $974,515,000 after acquiring an additional 3,623,182 shares in the last quarter. Institutional investors own 63.31% of the company’s stock.

VZ has been the topic of several research analyst reports. Nomura raised Verizon Communications from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $47.00 to $61.00 in a research note on Tuesday, December 12th. Vetr raised Verizon Communications from a “hold” rating to a “buy” rating and set a $54.80 target price on the stock in a research note on Monday, February 5th. KeyCorp reaffirmed a “hold” rating on shares of Verizon Communications in a research note on Saturday, October 21st. Macquarie reaffirmed a “hold” rating and issued a $52.00 target price on shares of Verizon Communications in a research note on Sunday, October 22nd. Finally, ValuEngine raised Verizon Communications from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and ten have given a buy rating to the stock. Verizon Communications has an average rating of “Hold” and an average price target of $53.51.

Verizon Communications Inc. (VZ) opened at $49.51 on Thursday. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.54. The firm has a market capitalization of $201,970.00, a price-to-earnings ratio of 15.19, a price-to-earnings-growth ratio of 2.04 and a beta of 0.58. Verizon Communications Inc. has a twelve month low of $42.80 and a twelve month high of $54.77.

Verizon Communications (NYSE:VZ) last issued its quarterly 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). The business had revenue of $33.96 billion during the quarter, compared to analyst estimates of $33.20 billion. Verizon Communications had a net margin of 23.88% and a return on equity of 48.97%. The company’s revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.86 earnings per share. equities research analysts anticipate that Verizon Communications Inc. will post 4.54 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th were issued a $0.59 dividend. The ex-dividend date was Tuesday, January 9th. This represents a $2.36 annualized dividend and a yield of 4.77%. Verizon Communications’s dividend payout ratio (DPR) is presently 72.39%.

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 completion of the sale, the executive vice president now directly owns 3,269 shares in the company, valued at approximately $154,983.29. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.13% of the company’s stock.

TRADEMARK VIOLATION WARNING: “Verizon Communications Inc. (VZ) Holdings Boosted by Schwab Charles Investment Management Inc.” was originally posted by TheOlympiaReport and is owned by of TheOlympiaReport. If you are accessing this piece on another domain, it was stolen and republished in violation of United States and international copyright laws. The correct version of this piece can be viewed at https://theolympiareport.com/2018/02/15/verizon-communications-inc-vz-holdings-boosted-by-schwab-charles-investment-management-inc.html.

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.

Want to see what other hedge funds are holding VZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Verizon Communications Inc. (NYSE:VZ).

Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

Receive News & Ratings for Verizon Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verizon Communications and related companies with MarketBeat.com's FREE daily email newsletter.