Schaper Benz & Wise Investment Counsel Inc. WI acquired a new position in shares of Verizon Communications Inc. (NYSE:VZ) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 4,350 shares of the cell phone carrier’s stock, valued at approximately $215,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of VZ. Whitnell & Co. lifted its stake in shares of Verizon Communications by 1.2% in the 2nd quarter. Whitnell & Co. now owns 10,316 shares of the cell phone carrier’s stock valued at $461,000 after purchasing an additional 125 shares during the last quarter. Caxton Associates LP acquired a new stake in shares of Verizon Communications in the 2nd quarter valued at $607,000. DekaBank Deutsche Girozentrale lifted its stake in shares of Verizon Communications by 4.6% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,673,761 shares of the cell phone carrier’s stock valued at $74,961,000 after purchasing an additional 72,980 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of Verizon Communications by 1.3% in the 2nd quarter. Canada Pension Plan Investment Board now owns 10,704,239 shares of the cell phone carrier’s stock valued at $478,051,000 after purchasing an additional 136,700 shares during the last quarter. Finally, Alps Advisors Inc. lifted its stake in shares of Verizon Communications by 5.2% in the 2nd quarter. Alps Advisors Inc. now owns 1,018,021 shares of the cell phone carrier’s stock valued at $45,465,000 after purchasing an additional 50,602 shares during the last quarter. Hedge funds and other institutional investors own 63.22% of the company’s stock.
In other news, EVP Craig L. Silliman sold 610 shares of the business’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $47.41, for a total transaction of $28,920.10. Following the transaction, the executive vice president now owns 3,269 shares in the company, valued at approximately $154,983.29. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.13% of the company’s stock.
Verizon Communications Inc. (VZ) opened at $51.55 on Friday. The company has a market cap of $210,300.00, a price-to-earnings ratio of 13.22, a P/E/G ratio of 4.63 and a beta of 0.57. Verizon Communications Inc. has a twelve month low of $42.80 and a twelve month high of $53.69. 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 (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, hitting the consensus estimate of $0.98. Verizon Communications had a net margin of 12.80% and a return on equity of 58.66%. The company had revenue of $31.70 billion for the quarter, compared to the consensus estimate of $31.45 billion. During the same quarter in the previous year, the firm posted $1.01 EPS. The business’s revenue was up 2.5% compared to the same quarter last year. analysts expect that Verizon Communications Inc. will post 3.77 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th will be issued a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $2.36 annualized dividend and a dividend yield of 4.58%. Verizon Communications’s payout ratio is 60.51%.
Several equities research analysts recently issued reports on the stock. HSBC lowered shares of Verizon Communications from a “buy” rating to a “hold” rating and reduced their price objective for the company from $54.83 to $42.80 in a research note on Thursday, December 14th. They noted that the move was a valuation call. Bank of America set a $52.00 price objective on shares of Verizon Communications and gave the company a “buy” rating in a research note on Friday, October 20th. Robert W. Baird reaffirmed a “hold” rating and issued a $49.00 price objective on shares of Verizon Communications in a research note on Wednesday, October 4th. ValuEngine raised shares of Verizon Communications from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Finally, KeyCorp reaffirmed a “hold” rating on shares of Verizon Communications in a research note on Saturday, October 21st. Two analysts have rated the stock with a sell rating, nineteen have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $51.98.
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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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