Verizon Communications Inc. (VZ) Shares Sold by Aveo Capital Partners LLC
Aveo Capital Partners LLC lessened its position in shares of Verizon Communications Inc. (NYSE:VZ) by 51.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,424 shares of the cell phone carrier’s stock after selling 8,846 shares during the quarter. Aveo Capital Partners LLC’s holdings in Verizon Communications were worth $411,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. State Street Corp boosted its holdings in shares of Verizon Communications by 1.2% in the 1st quarter. State Street Corp now owns 168,115,884 shares of the cell phone carrier’s stock worth $8,195,661,000 after purchasing an additional 2,066,816 shares during the period. Schwab Charles Investment Management Inc. boosted its holdings in shares of Verizon Communications by 6.9% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 18,125,956 shares of the cell phone carrier’s stock worth $883,641,000 after purchasing an additional 1,167,752 shares during the period. Beutel Goodman & Co Ltd. boosted its holdings in shares of Verizon Communications by 6.8% in the 1st quarter. Beutel Goodman & Co Ltd. now owns 4,358,480 shares of the cell phone carrier’s stock worth $179,129,000 after purchasing an additional 277,129 shares during the period. Aberdeen Asset Management PLC UK boosted its holdings in shares of Verizon Communications by 2.5% in the 1st quarter. Aberdeen Asset Management PLC UK now owns 4,160,118 shares of the cell phone carrier’s stock worth $202,805,000 after purchasing an additional 102,629 shares during the period. Finally, State of Wisconsin Investment Board boosted its holdings in shares of Verizon Communications by 10.1% in the 1st quarter. State of Wisconsin Investment Board now owns 4,017,783 shares of the cell phone carrier’s stock worth $195,867,000 after purchasing an additional 369,954 shares during the period. Institutional investors and hedge funds own 62.33% of the company’s stock.
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Verizon Communications Inc. (VZ) traded up 0.3529% during mid-day trading on Monday, reaching $46.2727. The company’s stock had a trading volume of 3,909,913 shares. The firm has a market cap of $188.77 billion, a PE ratio of 11.8953 and a beta of 0.57. Verizon Communications Inc. has a one year low of $42.80 and a one year high of $54.83. The stock’s 50 day moving average is $47.75 and its 200 day moving average is $47.19.
Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Thursday, July 27th. The cell phone carrier reported $0.96 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.96. The company 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 firm’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the prior year, the company posted $0.94 EPS. On average, analysts anticipate that Verizon Communications Inc. will post $3.78 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th will be given a $0.59 dividend. This is a boost from Verizon Communications’s previous quarterly dividend of $0.58. This represents a $2.36 dividend on an annualized basis and a yield of 5.12%. The ex-dividend date is Friday, October 6th. Verizon Communications’s dividend payout ratio is presently 59.23%.
In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 7,819 shares of the company’s stock, valued at approximately $373,279.06. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Over the last three months, insiders sold 1,830 shares of company stock valued at $86,248. 0.13% of the stock is currently owned by corporate insiders.
A number of equities analysts have recently commented on the company. Bank of America Corporation reiterated a “buy” rating on shares of Verizon Communications in a report on Saturday, June 17th. TheStreet upgraded Verizon Communications from a “c+” rating to a “b-” rating in a report on Tuesday, August 8th. Moffett Nathanson upgraded Verizon Communications from a “sell” rating to a “neutral” rating in a report on Tuesday, May 30th. Royal Bank Of Canada reiterated a “hold” rating and issued a $48.00 target price on shares of Verizon Communications in a report on Thursday, May 25th. Finally, ValuEngine cut Verizon Communications from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. 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 issued a strong buy rating to the stock. The stock currently 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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