Tobam boosted its position in Verizon Communications Inc. (NYSE:VZ) by 2.6% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 305,750 shares of the cell phone carrier’s stock after purchasing an additional 7,748 shares during the period. Verizon Communications comprises 1.3% of Tobam’s investment portfolio, making the stock its 29th biggest position. Tobam’s holdings in Verizon Communications were worth $16,428,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Danda Trouve Investment Management Inc. purchased a new stake in Verizon Communications during the fourth quarter worth about $25,000. Lionsbridge Wealth Management LLC bought a new position in Verizon Communications during the fourth quarter worth about $32,000. HighMark Wealth Management LLC purchased a new stake in shares of Verizon Communications during the 4th quarter valued at approximately $33,000. Permanens Capital L.P. bought a new stake in Verizon Communications during the 4th quarter valued at $37,000. Finally, AlphaCore Capital LLC bought a new stake in shares of Verizon Communications during the 1st quarter valued at $35,000. Hedge funds and other institutional investors own 66.77% of the company’s stock.

Shares of Verizon Communications stock opened at $54.71 on Friday. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.95 and a current ratio of 0.99. Verizon Communications Inc. has a 52-week low of $48.84 and a 52-week high of $62.22. The company’s 50 day moving average price is $56.24 and its 200-day moving average price is $58.30. The stock has a market capitalization of $235.87 billion, a price-to-earnings ratio of 12.35, a P/E/G ratio of 3.82 and a beta of 0.48.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Friday, April 24th. The cell phone carrier reported $1.26 EPS for the quarter, beating the consensus estimate of $1.22 by $0.04. Verizon Communications had a net margin of 14.00% and a return on equity of 33.26%. The firm had revenue of $31.81 billion during the quarter, compared to the consensus estimate of $32.37 billion. During the same period in the prior year, the firm posted $1.20 earnings per share. The company’s quarterly revenue was down 1.0% compared to the same quarter last year. As a group, equities research analysts forecast that Verizon Communications Inc. will post 4.77 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 1st. Shareholders of record on Monday, April 13th were given a dividend of $0.615 per share. This represents a $2.46 dividend on an annualized basis and a yield of 4.50%. The ex-dividend date of this dividend was Thursday, April 9th. Verizon Communications’s payout ratio is currently 51.14%.

Verizon Communications announced that its Board of Directors has authorized a stock buyback program on Thursday, February 6th that permits the company to repurchase 100,000,000 outstanding shares. This repurchase authorization permits the cell phone carrier to purchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

VZ has been the subject of several recent analyst reports. Deutsche Bank began coverage on Verizon Communications in a research report on Wednesday, January 22nd. They set a “hold” rating and a $63.00 target price for the company. ValuEngine lowered shares of Verizon Communications from a “hold” rating to a “sell” rating in a report on Friday, May 1st. Cowen upgraded shares of Verizon Communications from a “market perform” rating to an “outperform” rating and set a $61.00 price objective on the stock in a research report on Monday, March 2nd. Nomura Securities cut their target price on shares of Verizon Communications from $65.00 to $61.00 and set a “neutral” rating for the company in a research report on Monday, March 30th. Finally, JPMorgan Chase & Co. reduced their target price on Verizon Communications from $63.00 to $62.00 and set a “neutral” rating on the stock in a research note on Friday, April 17th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $61.44.

In related news, SVP Anthony T. Skiadas sold 10,744 shares of the business’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $57.10, for a total transaction of $613,482.40. Following the transaction, the senior vice president now owns 27,501 shares in the company, valued at $1,570,307.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.07% of the stock is currently owned by insiders.

Verizon Communications Profile

Verizon Communications Inc, through its subsidiaries, offers communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company's Wireless segment provides wireless voice and data services; Internet access on various notebook computers and tablets; international travel wireless services; and network access services to deliver various Internet of Things products and services, as well as offers digital advertising and digital media services platforms.

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Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

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