Verizon Communications (VZ) Position Increased by Meeder Asset Management Inc.

Meeder Asset Management Inc. raised its stake in shares of Verizon Communications (NYSE:VZ) by 27.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 172,742 shares of the cell phone carrier’s stock after purchasing an additional 37,193 shares during the period. Verizon Communications accounts for 0.8% of Meeder Asset Management Inc.’s holdings, making the stock its 21st biggest position. Meeder Asset Management Inc.’s holdings in Verizon Communications were worth $9,144,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Glassman Wealth Services lifted its holdings in Verizon Communications by 0.4% during the second quarter. Glassman Wealth Services now owns 7,719 shares of the cell phone carrier’s stock valued at $345,000 after purchasing an additional 31 shares in the last quarter. DF Dent & Co. Inc. lifted its holdings in Verizon Communications by 0.6% during the second quarter. DF Dent & Co. Inc. now owns 8,506 shares of the cell phone carrier’s stock valued at $380,000 after purchasing an additional 50 shares in the last quarter. Keel Point LLC lifted its holdings in Verizon Communications by 0.6% during the second quarter. Keel Point LLC now owns 12,359 shares of the cell phone carrier’s stock valued at $552,000 after purchasing an additional 78 shares in the last quarter. Balentine LLC lifted its holdings in Verizon Communications by 1.7% during the second quarter. Balentine LLC now owns 5,389 shares of the cell phone carrier’s stock valued at $241,000 after purchasing an additional 91 shares in the last quarter. Finally, Miles Capital Inc. lifted its holdings in Verizon Communications by 2.8% during the second quarter. Miles Capital Inc. now owns 4,653 shares of the cell phone carrier’s stock valued at $208,000 after purchasing an additional 127 shares in the last quarter. 64.01% of the stock is currently owned by institutional investors and hedge funds.

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In related news, SVP Anthony T. Skiadas sold 6,967 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $49.80, for a total transaction of $346,956.60. Following the completion of the sale, the senior vice president now directly owns 16,059 shares in the company, valued at $799,738.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.09% of the stock is currently owned by company insiders.

A number of equities research analysts have recently commented on VZ shares. Scotiabank upgraded shares of Verizon Communications from a “sector perform” rating to a “buy” rating and set a $60.00 target price for the company in a research report on Monday, January 22nd. Zacks Investment Research upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a research report on Tuesday, February 13th. Scotia Howard Weill upgraded shares of Verizon Communications from a “sector perform” rating to a “sector outperform” rating in a research report on Monday, January 22nd. Vetr cut shares of Verizon Communications from a “strong-buy” rating to a “buy” rating and set a $52.49 target price for the company. in a research report on Tuesday, April 3rd. Finally, Moffett Nathanson cut shares of Verizon Communications from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 16th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twelve have given a buy rating to the company. Verizon Communications presently has an average rating of “Hold” and an average target price of $54.24.

Verizon Communications stock opened at $48.39 on Tuesday. Verizon Communications has a 12-month low of $42.80 and a 12-month high of $54.77. The stock has a market cap of $196,738.75, a P/E ratio of 12.94, a PEG ratio of 1.94 and a beta of 0.64. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.54.

Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Tuesday, January 23rd. The cell phone carrier reported $0.86 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by ($0.02). Verizon Communications had a return on equity of 48.97% and a net margin of 23.88%. The firm had revenue of $33.96 billion for the quarter, compared to analyst estimates of $33.20 billion. During the same quarter in the previous year, the business posted $0.86 earnings per share. Verizon Communications’s revenue for the quarter was up 2.2% on a year-over-year basis. equities research analysts predict that Verizon Communications will post 4.54 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Investors of record on Tuesday, April 10th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 4.88%. The ex-dividend date of this dividend is Monday, April 9th. Verizon Communications’s payout ratio is currently 63.10%.

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Verizon Communications Profile

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; multimedia, business-focused, and location-based services, as well as international travel services; and network access services to deliver various Internet of Things products and services.

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

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