Teachers Advisors LLC boosted its position in shares of Verizon Communications Inc. (NYSE:VZ) by 0.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,746,124 shares of the cell phone carrier’s stock after buying an additional 63,826 shares during the period. Verizon Communications accounts for about 0.6% of Teachers Advisors LLC’s portfolio, making the stock its 26th largest holding. Teachers Advisors LLC owned 0.21% of Verizon Communications worth $466,956,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Verizon Communications in the third quarter valued at approximately $107,000. Barnett & Company Inc. lifted its stake in Verizon Communications by 152.3% during the third quarter. Barnett & Company Inc. now owns 2,445 shares of the cell phone carrier’s stock worth $131,000 after purchasing an additional 1,476 shares in the last quarter. Psagot Investment House Ltd. lifted its stake in Verizon Communications by 157.4% during the third quarter. Psagot Investment House Ltd. now owns 3,500 shares of the cell phone carrier’s stock worth $187,000 after purchasing an additional 2,140 shares in the last quarter. O Brien Wealth Partners LLC lifted its stake in Verizon Communications by 262.1% during the third quarter. O Brien Wealth Partners LLC now owns 3,599 shares of the cell phone carrier’s stock worth $192,000 after purchasing an additional 2,605 shares in the last quarter. Finally, Montgomery Investment Management Inc. acquired a new position in Verizon Communications during the third quarter worth $202,000. Institutional investors own 65.90% of the company’s stock.
Several brokerages have recently issued reports on VZ. Zacks Investment Research upgraded Verizon Communications from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a research note on Saturday, January 26th. ValuEngine upgraded Verizon Communications from a “hold” rating to a “buy” rating in a research note on Thursday, November 15th. Morgan Stanley cut Verizon Communications from an “overweight” rating to an “equal weight” rating and set a $58.00 price objective on the stock. in a research note on Wednesday, December 12th. Tigress Financial reiterated a “hold” rating on shares of Verizon Communications in a research note on Friday, December 28th. Finally, JPMorgan Chase & Co. cut Verizon Communications from an “overweight” rating to a “neutral” rating and set a $59.89 price objective on the stock. in a research note on Sunday, December 9th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Verizon Communications has an average rating of “Buy” and a consensus price target of $55.76.
NYSE:VZ traded up $0.03 during trading hours on Friday, hitting $57.98. The company’s stock had a trading volume of 4,568,693 shares, compared to its average volume of 15,080,390. The firm has a market capitalization of $239.22 billion, a PE ratio of 12.31, a price-to-earnings-growth ratio of 2.27 and a beta of 0.50. The company has a debt-to-equity ratio of 1.94, a current ratio of 0.91 and a quick ratio of 0.88. Verizon Communications Inc. has a 52-week low of $46.08 and a 52-week high of $61.58.
Verizon Communications (NYSE:VZ) last posted its earnings results on Tuesday, January 29th. The cell phone carrier reported $1.12 EPS for the quarter, beating the consensus estimate of $1.09 by $0.03. The firm had revenue of $34.28 billion for the quarter, compared to analyst estimates of $34.45 billion. Verizon Communications had a return on equity of 35.96% and a net margin of 11.87%. Verizon Communications’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.86 earnings per share. As a group, equities analysts anticipate that Verizon Communications Inc. will post 4.66 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be issued a $0.6025 dividend. This represents a $2.41 annualized dividend and a yield of 4.16%. The ex-dividend date is Tuesday, April 9th. Verizon Communications’s dividend payout ratio (DPR) is presently 51.17%.
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Verizon Communications Company 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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