Liontrust Investment Partners LLP decreased its holdings in Verizon Communications Inc. (NYSE:VZ – Free Report) by 52.1% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 127,255 shares of the cell phone carrier’s stock after selling 138,453 shares during the quarter. Liontrust Investment Partners LLP’s holdings in Verizon Communications were worth $5,388,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. RKL Wealth Management LLC increased its position in shares of Verizon Communications by 4.3% in the first quarter. RKL Wealth Management LLC now owns 5,338 shares of the cell phone carrier’s stock worth $268,000 after acquiring an additional 218 shares in the last quarter. Strategic Investment Solutions Inc. IL lifted its holdings in shares of Verizon Communications by 8.6% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 2,765 shares of the cell phone carrier’s stock valued at $113,000 after acquiring an additional 219 shares in the last quarter. Frazier Financial Advisors LLC boosted its position in Verizon Communications by 32.7% during the 1st quarter. Frazier Financial Advisors LLC now owns 888 shares of the cell phone carrier’s stock worth $45,000 after purchasing an additional 219 shares during the period. FAS Wealth Partners Inc. boosted its position in Verizon Communications by 1.2% during the 1st quarter. FAS Wealth Partners Inc. now owns 18,421 shares of the cell phone carrier’s stock worth $925,000 after purchasing an additional 223 shares during the period. Finally, Sumitomo Life Insurance Co. increased its holdings in Verizon Communications by 0.7% in the 4th quarter. Sumitomo Life Insurance Co. now owns 35,023 shares of the cell phone carrier’s stock valued at $1,426,000 after purchasing an additional 227 shares in the last quarter. 62.06% of the stock is owned by institutional investors and hedge funds.
Verizon Communications Price Performance
Shares of VZ opened at $50.10 on Tuesday. Verizon Communications Inc. has a 52 week low of $38.39 and a 52 week high of $51.68. The company has a current ratio of 0.60, a quick ratio of 0.57 and a debt-to-equity ratio of 1.36. The firm has a market cap of $208.15 billion, a price-to-earnings ratio of 13.05, a PEG ratio of 1.40 and a beta of 0.25. The stock has a 50 day moving average of $46.00 and a 200-day moving average of $47.44.
Verizon Communications Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Friday, July 10th were issued a dividend of $0.7075 per share. This represents a $2.83 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date of this dividend was Friday, July 10th. Verizon Communications’s dividend payout ratio is 73.70%.
Insider Buying and Selling at Verizon Communications
In other news, CEO Kyle Malady sold 1,100 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $50.06, for a total value of $55,066.00. Following the transaction, the chief executive officer directly owned 108,766 shares in the company, valued at approximately $5,444,825.96. This trade represents a 1.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.03% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms have commented on VZ. Moffett Nathanson cut their price objective on Verizon Communications from $56.00 to $49.00 and set a “neutral” rating on the stock in a research report on Monday, July 20th. Royal Bank Of Canada increased their target price on Verizon Communications from $46.00 to $47.00 and gave the company a “sector perform” rating in a research note on Monday, July 27th. Barclays raised their target price on Verizon Communications from $45.00 to $46.00 and gave the company an “equal weight” rating in a report on Monday, July 27th. Morgan Stanley boosted their price target on Verizon Communications from $50.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Monday, July 27th. Finally, Erste Group Bank restated a “hold” rating on shares of Verizon Communications in a report on Tuesday, May 5th. Nine research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat, Verizon Communications has a consensus rating of “Hold” and an average price target of $50.84.
Get Our Latest Stock Analysis on VZ
About Verizon Communications
Verizon Communications Inc (NYSE: VZ) is a major U.S.-based telecommunications company that provides a broad range of communications and information services. Its operations span consumer and business markets, with core offerings that include wireless voice and data services, fixed-line broadband and fiber-optic services, and enterprise networking solutions. Verizon is headquartered in New York City and operates a nationwide wireless network that supports consumer subscribers as well as business and government customers.
The company’s consumer products include mobile phone plans, unlimited data services, and Fios, its branded fiber-optic internet, television and voice service for homes and small businesses.
Featured Stories
- Five stocks we like better than Verizon Communications
- Securing AI: 5 Most-Upgraded Stocks From the Q2 Reporting Season
- Insiders Are Betting Big on These 3 Healthcare Stocks
- 3 Stocks for Investors Who Still Believe Cash Is King
- Dollar General and Dollar Tree Are Recovering, But Not for the Same Reason
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 – Free Report).
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.
