Mawer Investment Management Ltd. Sells 3,292,269 Shares of Verizon Communications Inc. (NYSE:VZ)


Share on StockTwits

Mawer Investment Management Ltd. trimmed its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 62.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,963,726 shares of the cell phone carrier’s stock after selling 3,292,269 shares during the quarter. Mawer Investment Management Ltd.’s holdings in Verizon Communications were worth $115,369,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Cobblestone Capital Advisors LLC NY lifted its holdings in Verizon Communications by 1.3% during the 4th quarter. Cobblestone Capital Advisors LLC NY now owns 47,273 shares of the cell phone carrier’s stock valued at $2,777,000 after purchasing an additional 607 shares during the last quarter. Princeton Global Asset Management LLC lifted its holdings in Verizon Communications by 25.7% during the 4th quarter. Princeton Global Asset Management LLC now owns 9,450 shares of the cell phone carrier’s stock valued at $555,000 after purchasing an additional 1,935 shares during the last quarter. Wellington Shields & Co. LLC lifted its holdings in Verizon Communications by 1.1% during the 4th quarter. Wellington Shields & Co. LLC now owns 52,910 shares of the cell phone carrier’s stock valued at $3,108,000 after purchasing an additional 567 shares during the last quarter. Summit Asset Management LLC lifted its holdings in Verizon Communications by 1.6% during the 4th quarter. Summit Asset Management LLC now owns 14,366 shares of the cell phone carrier’s stock valued at $844,000 after purchasing an additional 231 shares during the last quarter. Finally, Swedbank increased its position in Verizon Communications by 5.3% in the 4th quarter. Swedbank now owns 3,219,663 shares of the cell phone carrier’s stock valued at $187,191,000 after acquiring an additional 162,590 shares in the last quarter. 64.85% of the stock is owned by institutional investors.

Several equities research analysts have weighed in on the stock. Wells Fargo & Company assumed coverage on shares of Verizon Communications in a research report on Monday, November 16th. They issued an “equal weight” rating and a $60.00 price objective for the company. JPMorgan Chase & Co. upgraded shares of Verizon Communications from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $61.00 to $65.00 in a research report on Thursday, November 5th. Credit Suisse Group lowered their price target on shares of Verizon Communications from $61.00 to $59.00 and set a “neutral” rating for the company in a research report on Tuesday, January 19th. Tigress Financial reiterated a “hold” rating on shares of Verizon Communications in a research report on Sunday, November 1st. Finally, Moffett Nathanson upgraded shares of Verizon Communications from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $59.00 to $66.00 in a research report on Wednesday, December 2nd. Eleven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $61.84.

Shares of VZ stock traded up $0.06 during trading on Tuesday, reaching $56.51. The company’s stock had a trading volume of 583,742 shares, compared to its average volume of 20,626,359. The business has a fifty day moving average price of $56.33 and a 200-day moving average price of $58.66. The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 1.66. The company has a market cap of $233.84 billion, a price-to-earnings ratio of 12.25, a price-to-earnings-growth ratio of 3.54 and a beta of 0.44. Verizon Communications Inc. has a one year low of $48.84 and a one year high of $61.95.

Verizon Communications (NYSE:VZ) last issued its earnings results on Monday, January 25th. The cell phone carrier reported $1.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.17 by $0.04. The business had revenue of $34.70 billion for the quarter, compared to the consensus estimate of $34.47 billion. Verizon Communications had a net margin of 14.76% and a return on equity of 32.15%. The firm’s revenue for the quarter was down .2% on a year-over-year basis. During the same period in the previous year, the company earned $1.13 earnings per share. Research analysts anticipate that Verizon Communications Inc. will post 4.77 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, February 1st. Investors of record on Friday, January 8th were issued a dividend of $0.6275 per share. The ex-dividend date of this dividend was Thursday, January 7th. This represents a $2.51 dividend on an annualized basis and a yield of 4.44%. Verizon Communications’s payout ratio is 52.18%.

Verizon Communications Profile

Verizon Communications Inc offers communications, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. Its Consumer segment provides postpaid and prepaid service plans; Internet access on notebook computers and tablets; wireless equipment, including smartphones and other handsets; and wireless-enabled Internet devices, such as tablets, laptop computers and netbooks, and other wireless-enabled connected devices, such as smart watches and other wearables.

Featured Article: What is a growth and income fund?

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).

Institutional Ownership by Quarter for Verizon Communications (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.