OLD Republic International Corp maintained its stake in shares of Verizon Communications Inc. (NYSE:VZ) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,678,000 shares of the cell phone carrier’s stock at the end of the second quarter. Verizon Communications comprises 4.2% of OLD Republic International Corp’s holdings, making the stock its 2nd largest position. OLD Republic International Corp’s holdings in Verizon Communications were worth $93,700,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in VZ. Lowe fs LLC raised its position in Verizon Communications by 0.8% in the second quarter. Lowe fs LLC now owns 2,356 shares of the cell phone carrier’s stock valued at $132,000 after buying an additional 19 shares during the last quarter. Warren Averett Asset Management LLC raised its position in Verizon Communications by 0.5% in the second quarter. Warren Averett Asset Management LLC now owns 6,082 shares of the cell phone carrier’s stock valued at $340,000 after buying an additional 29 shares during the last quarter. Financial Consulate Inc. raised its position in Verizon Communications by 0.5% in the second quarter. Financial Consulate Inc. now owns 10,667 shares of the cell phone carrier’s stock valued at $596,000 after buying an additional 57 shares during the last quarter. Bath Savings Trust Co raised its position in Verizon Communications by 0.3% in the second quarter. Bath Savings Trust Co now owns 30,560 shares of the cell phone carrier’s stock valued at $1,707,000 after buying an additional 80 shares during the last quarter. Finally, McKinley Carter Wealth Services Inc. raised its position in Verizon Communications by 0.6% in the second quarter. McKinley Carter Wealth Services Inc. now owns 14,679 shares of the cell phone carrier’s stock valued at $820,000 after buying an additional 94 shares during the last quarter. 63.47% of the stock is owned by institutional investors and hedge funds.

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

Verizon Communications Inc. (NYSE:VZ) traded down 0.68% during midday trading on Friday, hitting $49.92. The stock had a trading volume of 13,816,797 shares. The stock has a market cap of $203.49 billion, a price-to-earnings ratio of 14.10 and a beta of 0.30. Verizon Communications Inc. has a 1-year low of $43.79 and a 1-year high of $56.95. The company has a 50-day moving average of $52.09 and a 200-day moving average of $52.74.

Verizon Communications (NYSE:VZ) last posted its earnings results on Tuesday, July 26th. The cell phone carrier reported $0.94 EPS for the quarter, beating the consensus estimate of $0.92 by $0.02. Verizon Communications had a return on equity of 87.41% and a net margin of 11.10%. The company had revenue of $30.53 billion for the quarter, compared to the consensus estimate of $30.95 billion. During the same quarter in the prior year, the business earned $1.04 earnings per share. The firm’s revenue for the quarter was down 5.3% on a year-over-year basis. Equities research analysts forecast that Verizon Communications Inc. will post $3.89 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Friday, October 7th will be given a $0.0125 dividend. This represents a $0.05 annualized dividend and a dividend yield of 0.10%. The ex-dividend date is Wednesday, October 5th. Verizon Communications’s payout ratio is 65.25%.

Several research analysts recently weighed in on the company. Argus reissued a “buy” rating on shares of Verizon Communications in a research report on Sunday, June 12th. Jefferies Group reissued a “hold” rating on shares of Verizon Communications in a research report on Saturday, August 6th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $52.00 target price (up from $50.00) on shares of Verizon Communications in a research report on Thursday, June 16th. Morgan Stanley upped their target price on Verizon Communications from $59.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, July 28th. Finally, Pacific Crest reaffirmed a “hold” rating on shares of Verizon Communications in a research report on Wednesday, July 27th. Twenty-four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Verizon Communications currently has an average rating of “Hold” and an average target price of $54.44.

In related news, EVP Craig L. Silliman sold 672 shares of the business’s stock in a transaction that occurred on Wednesday, July 27th. The stock was sold at an average price of $54.81, for a total value of $36,832.32. Following the completion of the sale, the executive vice president now directly owns 11,198 shares in the company, valued at $613,762.38. The sale was disclosed in a filing with the SEC, which is available at this link. 0.10% of the stock is owned by insiders.

About Verizon Communications

Verizon Communications Inc (Verizon) is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. The Company offers voice, data and video services and solutions on its wireless and wireline networks.

5 Day Chart for NYSE:VZ

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