Dupont Capital Management Corp Sells 46,324 Shares of Verizon Communications Inc. (VZ)

Dupont Capital Management Corp trimmed its stake in Verizon Communications Inc. (NYSE:VZ) by 16.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 228,538 shares of the cell phone carrier’s stock after selling 46,324 shares during the period. Dupont Capital Management Corp’s holdings in Verizon Communications were worth $10,207,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in VZ. Whitnell & Co. increased its position in Verizon Communications by 1.2% during the 2nd quarter. Whitnell & Co. now owns 10,316 shares of the cell phone carrier’s stock valued at $461,000 after buying an additional 125 shares in the last quarter. Allegis Investment Advisors LLC increased its position in Verizon Communications by 9.0% during the 1st quarter. Allegis Investment Advisors LLC now owns 59,067 shares of the cell phone carrier’s stock valued at $2,880,000 after buying an additional 4,898 shares in the last quarter. Segantii Capital Management Ltd acquired a new position in Verizon Communications during the 1st quarter valued at about $6,094,000. Cascade Investment Advisors Inc. increased its position in Verizon Communications by 0.4% during the 1st quarter. Cascade Investment Advisors Inc. now owns 33,945 shares of the cell phone carrier’s stock valued at $1,655,000 after buying an additional 125 shares in the last quarter. Finally, Carret Asset Management LLC increased its position in Verizon Communications by 1.5% during the 1st quarter. Carret Asset Management LLC now owns 177,172 shares of the cell phone carrier’s stock valued at $8,637,000 after buying an additional 2,606 shares in the last quarter. 62.05% of the stock is owned by hedge funds and other institutional investors.

Verizon Communications Inc. (NYSE VZ) opened at $44.88 on Friday. The stock has a market capitalization of $183,210.00, a P/E ratio of 12.12, a price-to-earnings-growth ratio of 4.27 and a beta of 0.55. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 4.05. Verizon Communications Inc. has a 1 year low of $42.80 and a 1 year high of $54.83.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Thursday, October 19th. The cell phone carrier reported $0.98 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.98. The company had revenue of $31.70 billion for the quarter, compared to the consensus estimate of $31.45 billion. Verizon Communications had a return on equity of 58.66% and a net margin of 12.80%. Verizon Communications’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.01 earnings per share. equities analysts forecast that Verizon Communications Inc. will post 3.77 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th were given a dividend of $0.59 per share. The ex-dividend date was Friday, October 6th. This represents a $2.36 dividend on an annualized basis and a yield of 5.26%. This is an increase from Verizon Communications’s previous quarterly dividend of $0.58. Verizon Communications’s dividend payout ratio is currently 60.51%.

VZ has been the topic of several recent analyst reports. TheStreet raised Verizon Communications from a “c+” rating to a “b-” rating in a research report on Tuesday, August 8th. Bank of America Corporation set a $52.00 target price on Verizon Communications and gave the company a “buy” rating in a research report on Friday, October 20th. Moffett Nathanson reaffirmed a “buy” rating on shares of Verizon Communications in a research report on Thursday, October 12th. ValuEngine raised Verizon Communications from a “hold” rating to a “buy” rating in a research report on Monday, October 23rd. Finally, Barclays PLC reduced their target price on Verizon Communications from $49.00 to $47.00 and set an “equal weight” rating on the stock in a research report on Friday, July 14th. Two analysts have rated the stock with a sell rating, twenty have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $52.75.

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In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of the stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $48.65, for a total transaction of $29,676.50. Following the transaction, the executive vice president now owns 7,209 shares in the company, valued at $350,717.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 1,830 shares of company stock worth $89,365 in the last quarter. 0.13% of the stock is currently owned by company insiders.

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

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