Verizon Communications Inc. (VZ) Shares Bought by Aberdeen Asset Management PLC UK
Aberdeen Asset Management PLC UK lifted its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 2.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,160,118 shares of the cell phone carrier’s stock after buying an additional 102,629 shares during the period. Verizon Communications comprises approximately 0.7% of Aberdeen Asset Management PLC UK’s investment portfolio, making the stock its 26th biggest position. Aberdeen Asset Management PLC UK owned approximately 0.10% of Verizon Communications worth $202,805,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in VZ. Retirement Systems of Alabama increased its holdings in shares of Verizon Communications by 35.5% during the first quarter. Retirement Systems of Alabama now owns 3,768,615 shares of the cell phone carrier’s stock worth $183,720,000 after buying an additional 986,786 shares in the last quarter. Hexavest Inc. increased its holdings in shares of Verizon Communications by 22.3% during the first quarter. Hexavest Inc. now owns 3,334,706 shares of the cell phone carrier’s stock worth $162,567,000 after buying an additional 608,792 shares in the last quarter. Honeywell International Inc. increased its holdings in shares of Verizon Communications by 285.7% during the first quarter. Honeywell International Inc. now owns 675,000 shares of the cell phone carrier’s stock worth $32,906,000 after buying an additional 500,000 shares in the last quarter. Pictet Asset Management Ltd. increased its holdings in shares of Verizon Communications by 12.8% during the first quarter. Pictet Asset Management Ltd. now owns 3,860,578 shares of the cell phone carrier’s stock worth $188,203,000 after buying an additional 439,391 shares in the last quarter. Finally, Fisher Asset Management LLC increased its holdings in shares of Verizon Communications by 1,740.4% during the first quarter. Fisher Asset Management LLC now owns 441,284 shares of the cell phone carrier’s stock worth $21,513,000 after buying an additional 417,307 shares in the last quarter. Institutional investors own 62.33% of the company’s stock.
Shares of Verizon Communications Inc. (NYSE:VZ) traded down 0.57% on Wednesday, reaching $47.09. 3,490,783 shares of the company’s stock traded hands. The firm’s 50-day moving average is $47.41 and its 200-day moving average is $47.24. The stock has a market cap of $192.10 billion, a price-to-earnings ratio of 12.11 and a beta of 0.57. Verizon Communications Inc. has a 52-week low of $42.80 and a 52-week high of $54.83.
Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Thursday, July 27th. The cell phone carrier reported $0.96 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.96. The firm had revenue of $30.55 billion during the quarter, compared to analysts’ expectations of $29.84 billion. Verizon Communications had a net margin of 12.88% and a return on equity of 63.06%. The company’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.94 earnings per share. Analysts anticipate that Verizon Communications Inc. will post $3.78 EPS for the current fiscal year.
In other news, EVP Craig L. Silliman sold 610 shares of the stock in a transaction on Friday, July 28th. The shares were sold at an average price of $47.74, for a total value of $29,121.40. Following the completion of the sale, the executive vice president now directly owns 7,819 shares of the company’s stock, valued at $373,279.06. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last three months, insiders sold 1,830 shares of company stock valued at $86,248. Corporate insiders own 0.13% of the company’s stock.
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A number of research firms recently weighed in on VZ. Zacks Investment Research upgraded Verizon Communications from a “sell” rating to a “hold” rating in a report on Friday, May 12th. Vetr upgraded Verizon Communications from a “hold” rating to a “buy” rating and set a $46.82 price objective for the company in a report on Wednesday, May 17th. Royal Bank Of Canada restated a “hold” rating and issued a $48.00 price objective on shares of Verizon Communications in a report on Thursday, May 25th. Moffett Nathanson upgraded Verizon Communications from a “sell” rating to a “neutral” rating in a report on Tuesday, May 30th. Finally, BTIG Research restated a “neutral” rating on shares of Verizon Communications in a report on Tuesday, May 30th. Two equities research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $52.73.
Verizon Communications 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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