Federated Investors Inc. PA Has $933.22 Million Stake in Verizon Communications Inc. (VZ)
Federated Investors Inc. PA grew its position in Verizon Communications Inc. (NYSE:VZ) by 4.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 20,896,007 shares of the cell phone carrier’s stock after buying an additional 956,578 shares during the period. Verizon Communications makes up 2.7% of Federated Investors Inc. PA’s portfolio, making the stock its 5th largest position. Federated Investors Inc. PA owned approximately 0.51% of Verizon Communications worth $933,215,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in VZ. Franklin Parlapiano Turner & Welch LLC acquired a new position in shares of Verizon Communications in the 1st quarter valued at $136,000. American Beacon Advisors Inc. acquired a new position in shares of Verizon Communications in the 1st quarter valued at $140,000. Proficio Capital Partners LLC grew its holdings in shares of Verizon Communications by 139.8% in the 1st quarter. Proficio Capital Partners LLC now owns 3,158 shares of the cell phone carrier’s stock valued at $142,000 after buying an additional 1,841 shares during the period. Private Vista LLC grew its holdings in shares of Verizon Communications by 3,339.1% in the 2nd quarter. Private Vista LLC now owns 389,552 shares of the cell phone carrier’s stock valued at $143,000 after buying an additional 378,225 shares during the period. Finally, Camarda Financial Advisors LLC grew its holdings in shares of Verizon Communications by 11.3% in the 2nd quarter. Camarda Financial Advisors LLC now owns 3,749 shares of the cell phone carrier’s stock valued at $167,000 after buying an additional 382 shares during the period. 63.19% of the stock is owned by institutional investors.
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In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of the stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $48.62, for a total value of $29,658.20. Following the transaction, the executive vice president now directly owns 5,989 shares of the company’s stock, valued at approximately $291,185.18. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders sold 1,830 shares of company stock worth $89,365. Insiders own 0.13% of the company’s stock.
VZ has been the subject of a number of research analyst reports. Robert W. Baird reaffirmed a “hold” rating and issued a $49.00 target price on shares of Verizon Communications in a research note on Wednesday, October 4th. Macquarie reaffirmed a “hold” rating and issued a $52.00 target price on shares of Verizon Communications in a research note on Sunday, October 22nd. KeyCorp reaffirmed a “hold” rating on shares of Verizon Communications in a research note on Saturday, October 21st. Bank of America Corporation set a $52.00 target price on shares of Verizon Communications and gave the stock a “buy” rating in a research note on Friday, October 20th. Finally, SunTrust Banks, Inc. reaffirmed a “hold” rating and issued a $50.00 target price on shares of Verizon Communications in a research note on Friday, October 20th. Two analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $51.25.
Verizon Communications Inc. (VZ) opened at $46.18 on Wednesday. The firm has a market cap of $188,390.00, a PE ratio of 12.11, a price-to-earnings-growth ratio of 4.27 and a beta of 0.55. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 4.05. Verizon Communications Inc. has a fifty-two week low of $42.80 and a fifty-two week high of $54.83.
Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Thursday, October 19th. The cell phone carrier reported $0.98 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.98. The firm had revenue of $31.70 billion for the quarter, compared to analysts’ expectations of $31.45 billion. Verizon Communications had a net margin of 12.80% and a return on equity of 58.66%. The business’s revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.01 EPS. equities research analysts anticipate that Verizon Communications Inc. will post 3.77 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th were issued a $0.59 dividend. This is a boost from Verizon Communications’s previous quarterly dividend of $0.58. This represents a $2.36 annualized dividend and a yield of 5.11%. The ex-dividend date was Friday, October 6th. Verizon Communications’s dividend payout ratio is currently 60.51%.
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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