Newman Dignan & Sheerar Inc. boosted its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 0.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 43,737 shares of the cell phone carrier’s stock after buying an additional 389 shares during the quarter. Verizon Communications makes up approximately 0.3% of Newman Dignan & Sheerar Inc.’s investment portfolio, making the stock its 26th biggest holding. Newman Dignan & Sheerar Inc.’s holdings in Verizon Communications were worth $2,685,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Nuveen Asset Management LLC boosted its position in shares of Verizon Communications by 6,712.8% during the second quarter. Nuveen Asset Management LLC now owns 29,602,386 shares of the cell phone carrier’s stock valued at $1,691,184,000 after buying an additional 29,167,876 shares during the period. BlackRock Inc. boosted its holdings in Verizon Communications by 1.7% during the 2nd quarter. BlackRock Inc. now owns 317,036,667 shares of the cell phone carrier’s stock valued at $18,112,307,000 after acquiring an additional 5,319,802 shares during the period. Beutel Goodman & Co Ltd. boosted its holdings in Verizon Communications by 95.6% during the 2nd quarter. Beutel Goodman & Co Ltd. now owns 10,096,656 shares of the cell phone carrier’s stock valued at $443,674,000 after acquiring an additional 4,936,074 shares during the period. Eagle Asset Management Inc. grew its position in Verizon Communications by 1,639.1% in the 3rd quarter. Eagle Asset Management Inc. now owns 2,827,454 shares of the cell phone carrier’s stock valued at $170,665,000 after acquiring an additional 2,664,871 shares during the last quarter. Finally, AMF Pensionsforsakring AB grew its position in Verizon Communications by 247.9% in the 3rd quarter. AMF Pensionsforsakring AB now owns 3,345,721 shares of the cell phone carrier’s stock valued at $201,948,000 after acquiring an additional 2,383,909 shares during the last quarter. Institutional investors own 65.25% of the company’s stock.
A number of equities research analysts recently weighed in on VZ shares. Guggenheim lifted their price objective on shares of Verizon Communications from $65.00 to $69.00 and gave the company a “buy” rating in a report on Monday, October 28th. Nomura lowered Verizon Communications from a “buy” rating to a “neutral” rating and lowered their price target for the company from $67.00 to $65.00 in a report on Monday, November 4th. ValuEngine upgraded Verizon Communications from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Moffett Nathanson set a $57.00 price objective on Verizon Communications and gave the stock a “hold” rating in a research note on Friday, October 25th. Finally, SunTrust Banks raised their price objective on Verizon Communications from $61.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $63.44.
Shares of VZ stock opened at $59.10 on Thursday. The firm has a market cap of $244.18 billion, a price-to-earnings ratio of 12.55, a PEG ratio of 3.72 and a beta of 0.51. The company’s 50 day moving average is $60.64 and its 200 day moving average is $59.01. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 1.99. Verizon Communications Inc. has a 52-week low of $52.28 and a 52-week high of $62.22.
Verizon Communications (NYSE:VZ) last posted its earnings results on Friday, October 25th. The cell phone carrier reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.01. The company had revenue of $32.89 billion during the quarter, compared to analyst estimates of $32.74 billion. Verizon Communications had a return on equity of 34.50% and a net margin of 12.26%. Verizon Communications’s revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.22 earnings per share. Analysts anticipate that Verizon Communications Inc. will post 4.83 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be issued a $0.615 dividend. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 4.16%. Verizon Communications’s dividend payout ratio is presently 52.23%.
About Verizon Communications
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.
Want to see what other hedge funds are holding VZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Verizon Communications Inc. (NYSE:VZ).
Receive News & Ratings for Verizon Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verizon Communications and related companies with MarketBeat.com's FREE daily email newsletter.