Forsta AP Fonden increased its position in Verizon Communications Inc. (NYSE:VZ) by 25.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,200,969 shares of the cell phone carrier’s stock after buying an additional 245,100 shares during the period. Verizon Communications comprises approximately 1.5% of Forsta AP Fonden’s holdings, making the stock its 10th largest position. Forsta AP Fonden’s holdings in Verizon Communications were worth $53,635,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. Farmers & Merchants Investments Inc. boosted its stake in shares of Verizon Communications by 4.1% in the second quarter. Farmers & Merchants Investments Inc. now owns 258,639 shares of the cell phone carrier’s stock valued at $11,551,000 after buying an additional 10,134 shares in the last quarter. Wright Investors Service Inc. boosted its stake in shares of Verizon Communications by 26.7% in the second quarter. Wright Investors Service Inc. now owns 16,149 shares of the cell phone carrier’s stock valued at $721,000 after buying an additional 3,402 shares in the last quarter. Rothschild Investment Corp IL boosted its stake in shares of Verizon Communications by 7.0% in the second quarter. Rothschild Investment Corp IL now owns 217,381 shares of the cell phone carrier’s stock valued at $9,708,000 after buying an additional 14,147 shares in the last quarter. Court Place Advisors LLC boosted its stake in shares of Verizon Communications by 1.5% in the second quarter. Court Place Advisors LLC now owns 38,649 shares of the cell phone carrier’s stock valued at $1,726,000 after buying an additional 562 shares in the last quarter. Finally, Well Done LLC boosted its stake in shares of Verizon Communications by 126.1% in the second quarter. Well Done LLC now owns 9,896 shares of the cell phone carrier’s stock valued at $442,000 after buying an additional 5,519 shares in the last quarter. 62.32% of the stock is owned by institutional investors and hedge funds.

Shares of Verizon Communications Inc. (NYSE:VZ) traded down 0.13% during midday trading on Friday, hitting $47.91. 5,795,870 shares of the company’s stock were exchanged. Verizon Communications Inc. has a 1-year low of $42.80 and a 1-year high of $54.83. The stock’s 50 day moving average is $47.08 and its 200-day moving average is $47.28. The stock has a market cap of $195.44 billion, a PE ratio of 12.32 and a beta of 0.56. Verizon Communications also was the target of unusually large options trading activity on Thursday. Traders bought 16,770 call options on the company. This is an increase of 115% compared to the typical daily volume of 7,797 call options.

Verizon Communications (NYSE:VZ) last posted its earnings results on Thursday, July 27th. The cell phone carrier reported $0.96 EPS for the quarter, hitting analysts’ consensus estimates of $0.96. Verizon Communications had a net margin of 12.88% and a return on equity of 63.06%. The business had revenue of $30.55 billion for the quarter, compared to analysts’ expectations of $29.84 billion. During the same period in the previous year, the company posted $0.94 earnings per share. The business’s revenue for the quarter was up .1% compared to the same quarter last year. Analysts predict that Verizon Communications Inc. will post $3.78 earnings per share for the current fiscal year.

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Several analysts recently issued reports on the stock. Bank of America Corporation reaffirmed a “buy” rating on shares of Verizon Communications in a research note on Saturday, June 17th. TheStreet raised shares of Verizon Communications from a “c+” rating to a “b-” rating in a research note on Tuesday, August 8th. Moffett Nathanson raised shares of Verizon Communications from a “sell” rating to a “neutral” rating in a research note on Tuesday, May 30th. ValuEngine cut shares of Verizon Communications from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $48.00 price objective on shares of Verizon Communications in a research note on Thursday, May 25th. Two equities research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $52.73.

In other news, EVP Craig L. Silliman sold 610 shares of the business’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $48.65, for a total transaction of $29,676.50. Following the transaction, the executive vice president now directly owns 7,209 shares of the company’s stock, valued at $350,717.85. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Over the last three months, insiders have sold 1,830 shares of company stock worth $86,248. Corporate insiders own 0.13% of the company’s stock.

About Verizon Communications

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

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