Verizon Communications Inc. (NYSE:VZ) Shares Acquired by Vigilare Wealth Management
Vigilare Wealth Management grew its stake in Verizon Communications Inc. (NYSE:VZ) by 5.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 32,790 shares of the cell phone carrier’s stock after purchasing an additional 1,624 shares during the period. Verizon Communications accounts for 2.0% of Vigilare Wealth Management’s portfolio, making the stock its 11th biggest position. Vigilare Wealth Management’s holdings in Verizon Communications were worth $1,951,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the company. Advisor Group Holdings Inc. purchased a new stake in Verizon Communications in the 1st quarter valued at $109,968,000. Nordea Investment Management AB raised its position in Verizon Communications by 94.9% in the 2nd quarter. Nordea Investment Management AB now owns 20,863,824 shares of the cell phone carrier’s stock valued at $1,135,410,000 after purchasing an additional 10,157,152 shares during the last quarter. Capital International Investors raised its position in Verizon Communications by 17.4% in the 1st quarter. Capital International Investors now owns 35,217,774 shares of the cell phone carrier’s stock valued at $1,892,254,000 after purchasing an additional 5,213,722 shares during the last quarter. Mn Services Vermogensbeheer B.V. purchased a new stake in Verizon Communications in the 2nd quarter valued at $184,333,000. Finally, FIL Ltd raised its position in Verizon Communications by 150.8% in the 2nd quarter. FIL Ltd now owns 5,500,094 shares of the cell phone carrier’s stock valued at $303,221,000 after purchasing an additional 3,307,291 shares during the last quarter. Institutional investors and hedge funds own 64.85% of the company’s stock.
VZ has been the subject of several research reports. Raymond James upped their price target on shares of Verizon Communications from $61.00 to $64.00 and gave the company an “outperform” rating in a research report on Monday, July 27th. Oppenheimer started coverage on shares of Verizon Communications in a research report on Tuesday, September 15th. They issued a “buy” rating and a $70.00 price target for the company. Royal Bank of Canada restated a “hold” rating and set a $57.00 price objective on shares of Verizon Communications in a research report on Wednesday, September 9th. Tigress Financial restated a “hold” rating on shares of Verizon Communications in a research report on Tuesday, August 11th. Finally, Moffett Nathanson restated a “hold” rating and set a $62.00 price objective on shares of Verizon Communications in a research report on Friday, July 24th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Verizon Communications presently has an average rating of “Hold” and a consensus price target of $62.24.
Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Friday, July 24th. The cell phone carrier reported $1.18 EPS for the quarter, beating the Zacks’ consensus estimate of $1.15 by $0.03. The firm had revenue of $30.40 billion for the quarter, compared to analysts’ expectations of $29.98 billion. Verizon Communications had a net margin of 14.76% and a return on equity of 32.15%. The firm’s revenue was down 5.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.23 EPS. As a group, research analysts expect that Verizon Communications Inc. will post 4.78 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Friday, October 9th will be paid a $0.6275 dividend. This represents a $2.51 dividend on an annualized basis and a yield of 4.32%. This is a boost from Verizon Communications’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Thursday, October 8th. Verizon Communications’s dividend payout ratio is presently 52.18%.
About Verizon Communications
Verizon Communications Inc, through its subsidiaries, offers communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company's Wireless segment provides wireless voice and data services; Internet access on various notebook computers and tablets; international travel wireless services; and network access services to deliver various Internet of Things products and services, as well as offers digital advertising and digital media services platforms.
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