Verizon Communications Inc. (VZ) Position Increased by Aviva PLC
Aviva PLC boosted its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 0.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,165,069 shares of the cell phone carrier’s stock after purchasing an additional 6,561 shares during the quarter. Verizon Communications comprises 0.8% of Aviva PLC’s portfolio, making the stock its 22nd biggest holding. Aviva PLC owned 0.08% of Verizon Communications worth $141,415,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. Victory Capital Management Inc. increased its stake in Verizon Communications by 9.7% in the 2nd quarter. Victory Capital Management Inc. now owns 274,428 shares of the cell phone carrier’s stock worth $12,256,000 after acquiring an additional 24,366 shares during the last quarter. MAI Capital Management increased its stake in Verizon Communications by 9.8% in the 2nd quarter. MAI Capital Management now owns 185,463 shares of the cell phone carrier’s stock worth $8,283,000 after acquiring an additional 16,477 shares during the last quarter. First National Trust Co. increased its stake in Verizon Communications by 2.9% in the 2nd quarter. First National Trust Co. now owns 190,722 shares of the cell phone carrier’s stock worth $8,518,000 after acquiring an additional 5,294 shares during the last quarter. Twin Capital Management Inc. increased its stake in Verizon Communications by 4.2% in the 2nd quarter. Twin Capital Management Inc. now owns 266,255 shares of the cell phone carrier’s stock worth $11,891,000 after acquiring an additional 10,850 shares during the last quarter. Finally, Welch Group LLC increased its stake in Verizon Communications by 12.1% in the 2nd quarter. Welch Group LLC now owns 334,735 shares of the cell phone carrier’s stock worth $14,949,000 after acquiring an additional 36,071 shares during the last quarter. 63.19% of the stock is currently owned by institutional investors.
Verizon Communications Inc. (VZ) opened at $47.10 on Friday. Verizon Communications Inc. has a 1-year low of $42.80 and a 1-year high of $54.83. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 4.05. The stock has a market capitalization of $192,141.66, a price-to-earnings ratio of 12.56, a P/E/G ratio of 4.43 and a beta of 0.55.
Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Thursday, October 19th. The cell phone carrier reported $0.98 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.98. Verizon Communications had a return on equity of 58.66% and a net margin of 12.80%. The company had revenue of $31.70 billion during the quarter, compared to analysts’ expectations of $31.45 billion. During the same quarter in the previous year, the business earned $1.01 EPS. Verizon Communications’s revenue was up 2.5% compared to the same quarter last year. equities analysts expect that Verizon Communications Inc. will post 3.77 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Friday, October 6th. This represents a $2.36 dividend on an annualized basis and a yield of 5.01%. This is a boost from Verizon Communications’s previous quarterly dividend of $0.58. Verizon Communications’s payout ratio is presently 60.51%.
A number of analysts have issued reports on VZ shares. TheStreet raised Verizon Communications from a “c+” rating to a “b-” rating in a research note on Tuesday, August 8th. Moffett Nathanson reaffirmed a “buy” rating on shares of Verizon Communications in a research note on Thursday, October 12th. Bank of America Corporation set a $52.00 target price on Verizon Communications and gave the stock a “buy” rating in a report on Friday, October 20th. ValuEngine upgraded Verizon Communications from a “hold” rating to a “buy” rating in a report on Monday, October 23rd. Finally, Macquarie reiterated a “hold” rating and issued a $52.00 target price on shares of Verizon Communications in a report on Sunday, October 22nd. Two investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Verizon Communications has a consensus rating of “Hold” and an average price target of $51.25.
In related news, EVP Craig L. Silliman sold 610 shares of the business’s stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $49.23, for a total transaction of $30,030.30. Following the completion of the transaction, the executive vice president now owns 6,599 shares in the company, valued at approximately $324,868.77. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders have sold 1,830 shares of company stock valued at $89,365. 0.13% of the stock is owned by company insiders.
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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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