WINTON GROUP Ltd raised its stake in Verizon Communications Inc. (NYSE:VZ) by 3,178.5% during the first quarter, according to its most recent filing with the SEC. The fund owned 857,040 shares of the cell phone carrier’s stock after buying an additional 830,899 shares during the period. Verizon Communications comprises approximately 0.8% of WINTON GROUP Ltd’s investment portfolio, making the stock its 27th largest position. WINTON GROUP Ltd’s holdings in Verizon Communications were worth $44,549,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Tortoise Investment Management LLC boosted its stake in shares of Verizon Communications by 35.3% in the fourth quarter. Tortoise Investment Management LLC now owns 2,609 shares of the cell phone carrier’s stock valued at $139,000 after buying an additional 680 shares in the last quarter. Portfolio Solutions LLC acquired a new stake in shares of Verizon Communications during the first quarter valued at $179,000. Feltz Wealth PLAN Inc. acquired a new stake in shares of Verizon Communications during the first quarter valued at $184,000. Mascoma Wealth Management LLC boosted its stake in shares of Verizon Communications by 10.5% in the first quarter. Mascoma Wealth Management LLC now owns 4,227 shares of the cell phone carrier’s stock valued at $206,000 after buying an additional 403 shares in the last quarter. Finally, Strategic Financial Group LLC boosted its stake in shares of Verizon Communications by 2.3% in the first quarter. Strategic Financial Group LLC now owns 4,356 shares of the cell phone carrier’s stock valued at $212,000 after buying an additional 100 shares in the last quarter. Institutional investors own 62.35% of the company’s stock.
Verizon Communications Inc. (VZ) traded down 0.19% during mid-day trading on Wednesday, hitting $48.51. 3,808,237 shares of the company’s stock traded hands. The stock has a market cap of $197.87 billion, a PE ratio of 12.47 and a beta of 0.56. The firm’s 50-day moving average price is $45.22 and its 200-day moving average price is $47.48. Verizon Communications Inc. has a one year low of $42.80 and a one year high of $54.83.
Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Thursday, July 27th. The cell phone carrier reported $0.96 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.96. Verizon Communications had a return on equity of 63.06% and a net margin of 12.88%. The business had revenue of $30.55 billion during the quarter, compared to the consensus estimate of $29.84 billion. During the same period in the previous year, the company posted $0.94 earnings per share. The business’s revenue for the quarter was up .1% on a year-over-year basis. On average, analysts forecast that Verizon Communications Inc. will post $3.79 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th were given a dividend of $0.5775 per share. This represents a $2.31 dividend on an annualized basis and a dividend yield of 4.75%. The ex-dividend date of this dividend was Thursday, July 6th. Verizon Communications’s dividend payout ratio is presently 59.23%.
Several equities research analysts recently weighed in on the stock. Argus cut shares of Verizon Communications from a “buy” rating to a “hold” rating in a research report on Friday, April 21st. Bank of America Corporation reiterated a “buy” rating on shares of Verizon Communications in a research report on Saturday, June 17th. Zacks Investment Research cut shares of Verizon Communications from a “hold” rating to a “sell” rating in a research report on Tuesday, April 25th. Instinet reiterated a “neutral” rating and set a $46.00 price objective (down previously from $47.00) on shares of Verizon Communications in a research report on Sunday, April 23rd. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $48.00 price objective on shares of Verizon Communications in a research report on Sunday, July 9th. Two equities research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Verizon Communications currently has a consensus rating of “Hold” and an average target price of $52.73.
In other news, EVP Craig L. Silliman sold 610 shares of the business’s stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $45.00, for a total transaction of $27,450.00. Following the completion of the transaction, the executive vice president now directly owns 8,429 shares of the company’s stock, valued at $379,305. The sale was disclosed in a filing with the SEC, which is accessible through this link. Over the last three months, insiders have sold 1,830 shares of company stock valued at $84,229. Corporate insiders own 0.13% of the company’s stock.
Verizon Communications Company Profile
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.
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