Verizon Communications Inc. (VZ) Shares Bought by Northeast Investment Management

Northeast Investment Management raised its position in Verizon Communications Inc. (NYSE:VZ) by 1.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 39,606 shares of the cell phone carrier’s stock after buying an additional 478 shares during the period. Northeast Investment Management’s holdings in Verizon Communications were worth $1,931,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new position in Verizon Communications during the fourth quarter worth about $1,712,958,000. Macquarie Group Ltd. raised its position in Verizon Communications by 5.7% in the fourth quarter. Macquarie Group Ltd. now owns 15,133,689 shares of the cell phone carrier’s stock worth $807,837,000 after buying an additional 820,585 shares in the last quarter. FIL Ltd raised its position in Verizon Communications by 29.5% in the fourth quarter. FIL Ltd now owns 12,144,029 shares of the cell phone carrier’s stock worth $648,248,000 after buying an additional 2,764,437 shares in the last quarter. Asset Management One Co. Ltd. raised its position in Verizon Communications by 1,244.2% in the fourth quarter. Asset Management One Co. Ltd. now owns 7,366,887 shares of the cell phone carrier’s stock worth $393,444,000 after buying an additional 6,818,838 shares in the last quarter. Finally, I.G. Investment Management LTD. raised its position in Verizon Communications by 65.9% in the fourth quarter. I.G. Investment Management LTD. now owns 5,237,863 shares of the cell phone carrier’s stock worth $279,597,000 after buying an additional 2,080,548 shares in the last quarter. 62.35% of the stock is owned by institutional investors.

Shares of Verizon Communications Inc. (NYSE:VZ) traded down 0.10% on Monday, hitting $48.86. 10,448,725 shares of the stock traded hands. The company has a market cap of $199.30 billion, a PE ratio of 12.56 and a beta of 0.56. The firm’s 50 day moving average is $45.05 and its 200-day moving average is $47.46. Verizon Communications Inc. has a 12 month low of $42.80 and a 12 month high of $54.83.

Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Thursday, July 27th. The cell phone carrier reported $0.96 earnings per share for the quarter, meeting the consensus estimate of $0.96. The business had revenue of $30.55 billion for the quarter, compared to analyst estimates of $29.84 billion. Verizon Communications had a return on equity of 63.06% and a net margin of 12.88%. The company’s revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.94 EPS. Equities analysts predict that Verizon Communications Inc. will post $3.79 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th were paid a $0.5775 dividend. This represents a $2.31 annualized dividend and a dividend yield of 4.73%. The ex-dividend date of this dividend was Thursday, July 6th. Verizon Communications’s dividend payout ratio is currently 59.23%.

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Several equities analysts have recently weighed in on VZ shares. Vetr raised shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $47.44 target price for the company in a report on Wednesday, June 21st. Cowen and Company reaffirmed a “hold” rating and set a $49.00 target price on shares of Verizon Communications in a report on Wednesday, July 19th. ValuEngine lowered shares of Verizon Communications from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Zacks Investment Research lowered shares of Verizon Communications from a “hold” rating to a “sell” rating in a report on Tuesday, June 20th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $48.00 target price on shares of Verizon Communications in a report on Friday, April 21st. Two investment analysts have rated the stock with a sell rating, twenty-two have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $52.73.

In other news, EVP Craig L. Silliman sold 610 shares of Verizon Communications stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $45.00, for a total value of $27,450.00. Following the transaction, the executive vice president now directly owns 8,429 shares of the company’s stock, valued at approximately $379,305. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 1,830 shares of company stock worth $84,229 over the last ninety days. Corporate insiders own 0.13% of the company’s stock.

About Verizon Communications

Verizon Communications Inc is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. Its segments include Wireless and Wireline. The Wireless segment offers communications products and services, including wireless voice and data services and equipment sales, to consumer, business and government customers across the United States.