AEGON USA Investment Management LLC Invests $313,000 in Verizon Communications Inc. (VZ) Stock
AEGON USA Investment Management LLC purchased a new position in Verizon Communications Inc. (NYSE:VZ) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 7,000 shares of the cell phone carrier’s stock, valued at approximately $313,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Franklin Parlapiano Turner & Welch LLC bought a new stake in Verizon Communications in the first quarter worth $136,000. American Beacon Advisors Inc. bought a new stake in Verizon Communications in the first quarter worth $140,000. Proficio Capital Partners LLC increased its position in Verizon Communications by 139.8% in the first quarter. Proficio Capital Partners LLC now owns 3,158 shares of the cell phone carrier’s stock worth $142,000 after purchasing an additional 1,841 shares during the last quarter. Camarda Financial Advisors LLC increased its position in Verizon Communications by 11.3% in the second quarter. Camarda Financial Advisors LLC now owns 3,749 shares of the cell phone carrier’s stock worth $167,000 after purchasing an additional 382 shares during the last quarter. Finally, Feltz Wealth PLAN Inc. bought a new stake in Verizon Communications in the first quarter worth $184,000. Institutional investors own 62.24% of the company’s stock.
Verizon Communications Inc. (VZ) opened at 49.77 on Friday. The firm has a 50-day moving average of $48.37 and a 200-day moving average of $47.09. Verizon Communications Inc. has a one year low of $42.80 and a one year high of $54.83. The company has a market capitalization of $203.03 billion, a P/E ratio of 12.79 and a beta of 0.56.
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, meeting the consensus estimate of $0.96. The business had revenue of $30.55 billion during the quarter, compared to analysts’ expectations of $29.84 billion. Verizon Communications had a return on equity of 63.06% and a net margin of 12.88%. The business’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter last year, the business posted $0.94 EPS. On average, analysts anticipate that Verizon Communications Inc. will post $3.76 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 4.74%. The ex-dividend date is Friday, October 6th. This is a boost from Verizon Communications’s previous quarterly dividend of $0.58. Verizon Communications’s dividend payout ratio (DPR) is presently 59.23%.
In other news, EVP Craig L. Silliman sold 610 shares of Verizon Communications stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $48.65, for a total value of $29,676.50. Following the completion of the transaction, the executive vice president now owns 7,209 shares in the company, valued at approximately $350,717.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 1,830 shares of company stock valued at $88,828 in the last quarter. Company insiders own 0.13% of the company’s stock.
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Several research analysts have commented on the stock. Robert W. Baird reaffirmed a “hold” rating and set a $49.00 price objective on shares of Verizon Communications in a research note on Wednesday. Cowen and Company reaffirmed a “hold” rating and set a $52.00 price objective on shares of Verizon Communications in a research note on Tuesday, September 19th. TheStreet raised shares of Verizon Communications from a “c+” rating to a “b-” rating in a research note on Tuesday, August 8th. BidaskClub raised shares of Verizon Communications from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. Finally, Royal Bank Of Canada lifted their price objective on shares of Verizon Communications from $48.00 to $50.00 and gave the stock a “sector perform” rating in a research note on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $52.86.
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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