Verizon Communications Inc. (VZ) Stake Increased by Fmr LLC

Fmr LLC raised its stake in Verizon Communications Inc. (NYSE:VZ) by 17.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 48,743,437 shares of the cell phone carrier’s stock after buying an additional 7,388,078 shares during the period. Fmr LLC owned about 1.20% of Verizon Communications worth $2,601,925,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Burns J W & Co. Inc. NY boosted its position in Verizon Communications by 1.3% in the third quarter. Burns J W & Co. Inc. NY now owns 89,836 shares of the cell phone carrier’s stock valued at $4,670,000 after buying an additional 1,140 shares during the last quarter. Boltwood Capital Management boosted its position in Verizon Communications by 1.1% in the third quarter. Boltwood Capital Management now owns 32,572 shares of the cell phone carrier’s stock valued at $1,693,000 after buying an additional 360 shares during the last quarter. First National Bank of Mount Dora Trust Investment Services boosted its position in Verizon Communications by 16.5% in the third quarter. First National Bank of Mount Dora Trust Investment Services now owns 51,161 shares of the cell phone carrier’s stock valued at $2,659,000 after buying an additional 7,236 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in Verizon Communications by 125.3% in the third quarter. BNP Paribas Arbitrage SA now owns 1,876,110 shares of the cell phone carrier’s stock valued at $97,520,000 after buying an additional 1,043,420 shares during the last quarter. Finally, Eqis Capital Management Inc. boosted its position in Verizon Communications by 64.3% in the third quarter. Eqis Capital Management Inc. now owns 32,149 shares of the cell phone carrier’s stock valued at $1,671,000 after buying an additional 12,587 shares during the last quarter. Institutional investors own 63.38% of the company’s stock.

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

Verizon Communications Inc. (NYSE:VZ) opened at 50.24 on Tuesday. The stock has a market cap of $204.81 billion, a price-to-earnings ratio of 15.65 and a beta of 0.43. Verizon Communications Inc. has a 52 week low of $46.01 and a 52 week high of $56.95. The firm’s 50 day moving average price is $49.26 and its 200-day moving average price is $50.48.

Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Tuesday, January 24th. The cell phone carrier reported $0.86 EPS for the quarter, missing the consensus estimate of $0.89 by $0.03. Verizon Communications had a return on equity of 72.75% and a net margin of 10.42%. The business earned $32.30 billion during the quarter, compared to the consensus estimate of $32.12 billion. During the same quarter in the previous year, the business posted $0.89 earnings per share. Verizon Communications’s quarterly revenue was down 5.6% compared to the same quarter last year. Analysts expect that Verizon Communications Inc. will post $3.85 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 1st. Investors of record on Monday, April 10th will be issued a $0.5775 dividend. The ex-dividend date is Thursday, April 6th. This represents a $2.31 annualized dividend and a yield of 4.60%. Verizon Communications’s payout ratio is 71.74%.

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Several research firms have issued reports on VZ. Citigroup Inc upgraded Verizon Communications from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $52.25 to $53.38 in a research report on Tuesday, January 3rd. Vetr lowered Verizon Communications from a “buy” rating to a “hold” rating and set a $52.38 price target on the stock. in a research note on Monday, January 2nd. Drexel Hamilton lowered Verizon Communications from a “buy” rating to a “hold” rating in a research note on Friday, January 6th. Needham & Company LLC reissued a “hold” rating on shares of Verizon Communications in a research note on Monday, January 23rd. Finally, Wells Fargo & Co lowered Verizon Communications from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $56.95 to $54.00 in a research note on Monday, January 23rd. One research analyst has rated the stock with a sell rating, twenty-five have given a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $54.53.

In related news, EVP Marni M. Walden sold 32,254 shares of Verizon Communications stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $49.92, for a total value of $1,610,119.68. Following the completion of the sale, the executive vice president now directly owns 28,159 shares in the company, valued at approximately $1,405,697.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Anthony T. Skiadas sold 12,495 shares of Verizon Communications stock in a transaction dated Tuesday, February 14th. The stock was sold at an average price of $48.27, for a total value of $603,133.65. Following the completion of the sale, the senior vice president now owns 16,058 shares of the company’s stock, valued at $775,119.66. The disclosure for this sale can be found here. Insiders sold a total of 55,553 shares of company stock valued at $2,756,586 over the last quarter. 0.10% of the stock is owned by corporate insiders.

About Verizon Communications

Verizon Communications Inc (Verizon) is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. The Company offers voice, data and video services and solutions on its wireless and wireline networks.

5 Day Chart for NYSE:VZ

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