UBS Oconnor LLC Buys 16,070 Shares of Verizon Communications Inc. (NYSE:VZ)

UBS Oconnor LLC boosted its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 3.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 550,000 shares of the cell phone carrier’s stock after buying an additional 16,070 shares during the period. Verizon Communications makes up about 0.8% of UBS Oconnor LLC’s investment portfolio, making the stock its 19th largest holding. UBS Oconnor LLC’s holdings in Verizon Communications were worth $31,422,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Ausdal Financial Partners Inc. boosted its stake in shares of Verizon Communications by 1.1% in the 2nd quarter. Ausdal Financial Partners Inc. now owns 17,615 shares of the cell phone carrier’s stock worth $998,000 after buying an additional 185 shares during the last quarter. Clearwater Capital Advisors LLC boosted its stake in shares of Verizon Communications by 4.7% in the 2nd quarter. Clearwater Capital Advisors LLC now owns 4,170 shares of the cell phone carrier’s stock worth $238,000 after buying an additional 187 shares during the last quarter. Capital Asset Advisory Services LLC boosted its stake in shares of Verizon Communications by 3.4% in the 2nd quarter. Capital Asset Advisory Services LLC now owns 6,121 shares of the cell phone carrier’s stock worth $350,000 after buying an additional 200 shares during the last quarter. Waller Financial Planning Group Inc. boosted its stake in shares of Verizon Communications by 2.7% in the 2nd quarter. Waller Financial Planning Group Inc. now owns 7,587 shares of the cell phone carrier’s stock worth $432,000 after buying an additional 200 shares during the last quarter. Finally, Ballew Advisors Inc boosted its stake in shares of Verizon Communications by 5.7% in the 2nd quarter. Ballew Advisors Inc now owns 3,730 shares of the cell phone carrier’s stock worth $215,000 after buying an additional 200 shares during the last quarter. 65.67% of the stock is owned by institutional investors.

NYSE VZ traded up $0.05 on Thursday, hitting $59.98. 7,650,883 shares of the company traded hands, compared to its average volume of 10,415,284. The company has a market capitalization of $246.08 billion, a price-to-earnings ratio of 12.73, a P/E/G ratio of 2.85 and a beta of 0.52. The company has a current ratio of 0.87, a quick ratio of 0.84 and a debt-to-equity ratio of 2.12. The business’s 50 day moving average price is $57.24 and its 200-day moving average price is $57.53. Verizon Communications Inc. has a 52-week low of $52.28 and a 52-week high of $61.58.

Verizon Communications (NYSE:VZ) last released its earnings results on Thursday, August 1st. The cell phone carrier reported $1.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.03. The company had revenue of $32.07 billion for the quarter, compared to the consensus estimate of $32.42 billion. Verizon Communications had a return on equity of 34.91% and a net margin of 12.08%. Verizon Communications’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.20 earnings per share. As a group, sell-side analysts predict that Verizon Communications Inc. will post 4.81 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be given a dividend of $0.615 per share. The ex-dividend date of this dividend is Wednesday, October 9th. This is an increase from Verizon Communications’s previous quarterly dividend of $0.60. This represents a $2.46 annualized dividend and a yield of 4.10%. Verizon Communications’s payout ratio is 51.17%.

VZ has been the topic of a number of research reports. Zacks Investment Research upgraded Verizon Communications from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a research note on Monday, September 2nd. Oppenheimer upgraded Verizon Communications from a “market perform” rating to an “outperform” rating and set a $70.00 price target on the stock in a research note on Tuesday, August 27th. UBS Group downgraded Verizon Communications from a “buy” rating to a “neutral” rating and set a $57.70 price target on the stock. in a research note on Thursday, May 30th. They noted that the move was a valuation call. Finally, Citigroup set a $62.00 price target on Verizon Communications and gave the stock a “hold” rating in a research note on Tuesday, September 10th. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $60.96.

In other Verizon Communications news, EVP Craig L. Silliman sold 1,349 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $58.15, for a total transaction of $78,444.35. Following the sale, the executive vice president now directly owns 25,379 shares of the company’s stock, valued at $1,475,788.85. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Tami A. Erwin sold 17,000 shares of the firm’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $57.75, for a total value of $981,750.00. Following the sale, the chief executive officer now directly owns 853 shares in the company, valued at $49,260.75. The disclosure for this sale can be found here. Insiders have sold 21,047 shares of company stock worth $1,212,038 over the last quarter. 0.03% of the stock is owned by company insiders.

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; 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.

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

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