Verizon Communications Inc. (NYSE:VZ) Shares Purchased by Handelsbanken Fonder AB

Handelsbanken Fonder AB grew its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 4.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,501,426 shares of the cell phone carrier’s stock after purchasing an additional 60,900 shares during the period. Handelsbanken Fonder AB’s holdings in Verizon Communications were worth $60,042,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. grew its holdings in Verizon Communications by 6.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 101,273,082 shares of the cell phone carrier’s stock worth $4,548,163,000 after acquiring an additional 5,936,009 shares during the period. Geode Capital Management LLC boosted its position in shares of Verizon Communications by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 95,824,245 shares of the cell phone carrier’s stock worth $4,289,054,000 after purchasing an additional 2,081,241 shares in the last quarter. FMR LLC grew its stake in shares of Verizon Communications by 2.0% during the 3rd quarter. FMR LLC now owns 29,074,297 shares of the cell phone carrier’s stock worth $1,305,727,000 after purchasing an additional 565,842 shares during the period. Parnassus Investments LLC increased its holdings in shares of Verizon Communications by 2.8% in the 3rd quarter. Parnassus Investments LLC now owns 18,161,563 shares of the cell phone carrier’s stock valued at $815,636,000 after purchasing an additional 502,949 shares in the last quarter. Finally, Swiss National Bank lifted its stake in shares of Verizon Communications by 0.4% in the third quarter. Swiss National Bank now owns 12,493,998 shares of the cell phone carrier’s stock valued at $561,105,000 after purchasing an additional 46,100 shares during the period. 62.06% of the stock is owned by hedge funds and other institutional investors.

Verizon Communications Stock Performance

Shares of VZ opened at $42.04 on Thursday. Verizon Communications Inc. has a 1 year low of $37.58 and a 1 year high of $45.36. The company’s 50 day simple moving average is $39.89 and its 200 day simple moving average is $41.58. The company has a market capitalization of $176.95 billion, a price-to-earnings ratio of 10.15, a PEG ratio of 4.28 and a beta of 0.45. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.59 and a current ratio of 0.63.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.11 by ($0.01). Verizon Communications had a return on equity of 19.80% and a net margin of 12.99%. During the same period last year, the firm posted $1.08 EPS. On average, sell-side analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were paid a $0.6775 dividend. This represents a $2.71 dividend on an annualized basis and a yield of 6.45%. The ex-dividend date was Friday, January 10th. Verizon Communications’s payout ratio is 65.46%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on VZ. Scotiabank upped their target price on shares of Verizon Communications from $47.00 to $47.50 and gave the stock a “sector perform” rating in a research report on Monday, January 27th. UBS Group upped their price target on Verizon Communications from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, December 20th. TD Cowen raised Verizon Communications to a “strong-buy” rating in a report on Wednesday, January 15th. Argus raised Verizon Communications to a “strong-buy” rating in a report on Monday, January 27th. Finally, Sanford C. Bernstein began coverage on Verizon Communications in a research report on Tuesday, December 10th. They issued a “market perform” rating and a $48.00 price target for the company. Ten analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $46.08.

Insider Buying and Selling at Verizon Communications

In other Verizon Communications news, CEO Kyle Malady sold 11,085 shares of Verizon Communications stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $40.88, for a total value of $453,154.80. Following the transaction, the chief executive officer now owns 14,590 shares in the company, valued at $596,439.20. This trade represents a 43.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 39,085 shares of company stock worth $1,582,995 in the last 90 days. 0.02% of the stock is owned by company insiders.

Verizon Communications Profile

Verizon Communications Inc, through its subsidiaries, engages in the provision of communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. It operates in two segments, Verizon Consumer Group (Consumer) and Verizon Business Group (Business).