State of Wisconsin Investment Board boosted its holdings in Verizon Communications Inc. (NYSE:VZ) by 4.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,158,284 shares of the cell phone carrier’s stock after buying an additional 227,041 shares during the quarter. Verizon Communications makes up about 0.8% of State of Wisconsin Investment Board’s holdings, making the stock its 20th largest position. State of Wisconsin Investment Board’s holdings in Verizon Communications were worth $255,283,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Legacy Advisors LLC purchased a new position in Verizon Communications in the third quarter valued at $132,000. Private Vista LLC increased its holdings in Verizon Communications by 3,339.1% in the second quarter. Private Vista LLC now owns 389,552 shares of the cell phone carrier’s stock valued at $143,000 after buying an additional 378,225 shares during the last quarter. Mountain Capital Investment Advisors Inc acquired a new position in Verizon Communications in the second quarter valued at $156,000. Regal Wealth Group Inc. boosted its stake in Verizon Communications by 0.7% in 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. Finally, Camarda Financial Advisors LLC boosted its stake in Verizon Communications by 11.3% in the second quarter. Camarda Financial Advisors LLC now owns 3,749 shares of the cell phone carrier’s stock valued at $167,000 after acquiring an additional 382 shares in the last quarter. 63.21% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Verizon Communications Inc. (NYSE:VZ) opened at $51.86 on Friday. Verizon Communications Inc. has a 12 month low of $42.80 and a 12 month high of $53.69. The firm has a market cap of $211,560.00, a PE ratio of 13.30, a PEG ratio of 4.71 and a beta of 0.57. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 4.05.
Verizon Communications (NYSE:VZ) last announced its earnings results on Thursday, October 19th. The cell phone carrier reported $0.98 earnings per share for the quarter, hitting the consensus estimate of $0.98. Verizon Communications had a net margin of 12.80% and a return on equity of 58.66%. The business had revenue of $31.70 billion during the quarter, compared to the consensus estimate of $31.45 billion. During the same quarter in the prior year, the firm earned $1.01 earnings per share. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. research analysts expect that Verizon Communications Inc. will post 3.77 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th will be paid a dividend of $0.59 per share. The ex-dividend date is Tuesday, January 9th. This represents a $2.36 annualized dividend and a dividend yield of 4.55%. Verizon Communications’s dividend payout ratio (DPR) is 60.51%.
Several equities analysts have issued reports on VZ shares. Wells Fargo & Co upgraded shares of Verizon Communications from a “market perform” rating to an “outperform” rating and set a $50.00 price objective for the company in a research note on Monday, November 20th. Instinet upped their price objective on shares of Verizon Communications from $47.00 to $61.00 and gave the company a “buy” rating in a research note on Tuesday, December 12th. Nomura upgraded shares of Verizon Communications from a “neutral” rating to a “buy” rating and upped their price objective for the company from $47.00 to $61.00 in a research note on Tuesday, December 12th. SunTrust Banks restated a “hold” rating and issued a $50.00 price objective on shares of Verizon Communications in a research note on Friday, October 20th. Finally, Bank of America set a $52.00 price objective on shares of Verizon Communications and gave the company a “buy” rating in a research note on Friday, October 20th. Two investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Verizon Communications has a consensus rating of “Hold” and an average target price of $51.98.
In other news, EVP Craig L. Silliman sold 610 shares of the stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $48.62, for a total transaction of $29,658.20. Following the completion of the sale, the executive vice president now owns 5,989 shares in the company, valued at $291,185.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.13% of the stock is currently owned by corporate insiders.
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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