Henderson Group PLC decreased its position in shares of Verizon Communications Inc. (NYSE:VZ) by 1.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,553,677 shares of the cell phone carrier’s stock after selling 27,846 shares during the period. Verizon Communications accounts for approximately 0.6% of Henderson Group PLC’s portfolio, making the stock its 28th largest position. Henderson Group PLC’s holdings in Verizon Communications were worth $80,752,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Loomis Sayles & Co. L P increased its stake in shares of Verizon Communications by 6.6% in the first quarter. Loomis Sayles & Co. L P now owns 1,771,231 shares of the cell phone carrier’s stock valued at $95,788,000 after buying an additional 110,298 shares during the period. Sand Hill Global Advisors LLC increased its stake in shares of Verizon Communications by 6.6% in the first quarter. Sand Hill Global Advisors LLC now owns 8,693 shares of the cell phone carrier’s stock valued at $470,000 after buying an additional 540 shares during the period. Kimelman & Baird LLC purchased a new stake in shares of Verizon Communications during the first quarter valued at $208,000. Geode Capital Management LLC increased its stake in shares of Verizon Communications by 2.0% in the first quarter. Geode Capital Management LLC now owns 33,346,023 shares of the cell phone carrier’s stock valued at $1,799,729,000 after buying an additional 656,483 shares during the period. Finally, Arete Wealth Advisors LLC increased its stake in shares of Verizon Communications by 9.7% in the first quarter. Arete Wealth Advisors LLC now owns 7,840 shares of the cell phone carrier’s stock valued at $424,000 after buying an additional 691 shares during the period. Hedge funds and other institutional investors own 62.41% of the company’s stock.

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

Verizon Communications Inc. (NYSE:VZ) opened at 50.96 on Wednesday. The firm has a market capitalization of $207.75 billion, a price-to-earnings ratio of 14.85 and a beta of 0.38. Verizon Communications Inc. has a 52-week low of $43.79 and a 52-week high of $56.95. The company’s 50-day moving average is $48.57 and its 200-day moving average is $51.88.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Thursday, October 20th. The cell phone carrier reported $1.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.02. The firm earned $30.90 billion during the quarter, compared to analysts’ expectations of $31.08 billion. Verizon Communications had a net margin of 10.97% and a return on equity of 78.75%. Verizon Communications’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.04 EPS. Equities analysts predict that Verizon Communications Inc. will post $3.90 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 1st. Investors of record on Friday, October 7th were paid a dividend of $0.0125 per share. This represents a $0.05 dividend on an annualized basis and a yield of 0.10%. The ex-dividend date was Wednesday, October 5th. Verizon Communications’s dividend payout ratio is currently 67.15%.

ILLEGAL ACTIVITY NOTICE: This piece of content was reported by The Cerbat Gem and is the propert of of The Cerbat Gem. If you are reading this piece of content on another site, it was illegally stolen and reposted in violation of international trademark & copyright law. The original version of this piece of content can be read at https://www.thecerbatgem.com/2016/11/30/henderson-group-plc-sells-27846-shares-of-verizon-communications-inc-vz.html.

VZ has been the subject of several recent analyst reports. Pacific Crest restated an “equal weight” rating on shares of Verizon Communications in a research note on Sunday, October 23rd. Drexel Hamilton upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $54.00 target price for the company in a research note on Monday, October 24th. Vetr downgraded shares of Verizon Communications from a “strong-buy” rating to a “buy” rating and set a $58.40 target price for the company. in a research note on Thursday, September 1st. Goldman Sachs Group Inc. restated a “neutral” rating and issued a $51.00 target price on shares of Verizon Communications in a research note on Sunday, October 23rd. Finally, Robert W. Baird reiterated a “neutral” rating and set a $52.00 price objective (down from $55.00) on shares of Verizon Communications in a research note on Sunday, October 23rd. One investment analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and nine have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $54.61.

In other Verizon Communications news, EVP Craig L. Silliman sold 668 shares of the company’s stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $49.29, for a total transaction of $32,925.72. Following the completion of the transaction, the executive vice president now owns 6,047 shares in the company, valued at approximately $298,056.63. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Craig L. Silliman sold 672 shares of the company’s stock in a transaction on Wednesday, October 26th. The stock was sold at an average price of $47.76, for a total transaction of $32,094.72. Following the transaction, the executive vice president now owns 9,182 shares of the company’s stock, valued at approximately $438,532.32. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

Verizon Communications Company Profile

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

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