Verizon Communications Inc. (VZ) Shares Bought by Haverford Trust Co.
Haverford Trust Co. lifted its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 2.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 742,479 shares of the cell phone carrier’s stock after buying an additional 19,248 shares during the quarter. Haverford Trust Co.’s holdings in Verizon Communications were worth $36,745,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in Verizon Communications by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 282,894,542 shares of the cell phone carrier’s stock valued at $12,634,070,000 after purchasing an additional 5,837,702 shares during the last quarter. Capital Research Global Investors raised its stake in Verizon Communications by 15.1% in the 2nd quarter. Capital Research Global Investors now owns 153,408,016 shares of the cell phone carrier’s stock valued at $6,851,202,000 after purchasing an additional 20,070,391 shares during the last quarter. FMR LLC raised its stake in Verizon Communications by 15.0% in the 2nd quarter. FMR LLC now owns 61,833,096 shares of the cell phone carrier’s stock valued at $2,761,466,000 after purchasing an additional 8,077,275 shares during the last quarter. Legal & General Group Plc raised its stake in Verizon Communications by 3.7% in the 2nd quarter. Legal & General Group Plc now owns 23,859,220 shares of the cell phone carrier’s stock valued at $1,065,488,000 after purchasing an additional 848,043 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake in Verizon Communications by 19.9% in the 2nd quarter. Franklin Resources Inc. now owns 21,820,729 shares of the cell phone carrier’s stock valued at $974,515,000 after purchasing an additional 3,623,182 shares during the last quarter. 63.26% of the stock is owned by institutional investors and hedge funds.
Verizon Communications Inc. (VZ) opened at $49.88 on Friday. Verizon Communications Inc. has a twelve month low of $42.80 and a twelve month high of $54.77. The company has a market capitalization of $203,480.00, a PE ratio of 6.78, a P/E/G ratio of 2.08 and a beta of 0.58. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.54.
The business also recently declared a quarterly dividend, which was paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 4.73%. The ex-dividend date of this dividend was Tuesday, January 9th. Verizon Communications’s dividend payout ratio is currently 32.07%.
Several analysts have issued reports on VZ shares. Wells Fargo & Co upgraded Verizon Communications from a “market perform” rating to an “outperform” rating and set a $50.00 target price for the company in a report on Monday, November 20th. Instinet upped their target price on Verizon Communications from $47.00 to $61.00 and gave the company a “buy” rating in a report on Tuesday, December 12th. Nomura upgraded Verizon Communications from a “neutral” rating to a “buy” rating and upped their target price for the company from $47.00 to $61.00 in a report on Tuesday, December 12th. SunTrust Banks restated a “hold” rating and issued a $50.00 target price on shares of Verizon Communications in a report on Friday, October 20th. Finally, Moffett Nathanson cut Verizon Communications from a “buy” rating to a “neutral” rating in a report on Tuesday, January 16th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have assigned a buy rating to the stock. Verizon Communications has an average rating of “Hold” and an average price target of $53.37.
In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of the stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $47.41, for a total value of $28,920.10. Following the sale, the executive vice president now owns 3,269 shares of the company’s stock, valued at approximately $154,983.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.13% of the stock is owned by company insiders.
About Verizon Communications
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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