Chicago Equity Partners LLC Cuts Holdings in Verizon Communications Inc. (VZ)

Chicago Equity Partners LLC lessened its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 11.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 426,750 shares of the cell phone carrier’s stock after selling 57,235 shares during the quarter. Chicago Equity Partners LLC’s holdings in Verizon Communications were worth $19,059,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. State Street Corp lifted its holdings in shares of Verizon Communications by 1.2% in the first quarter. State Street Corp now owns 168,115,884 shares of the cell phone carrier’s stock worth $8,195,661,000 after buying an additional 2,066,816 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Verizon Communications by 3.7% in the second quarter. Legal & General Group Plc now owns 23,859,220 shares of the cell phone carrier’s stock worth $1,065,488,000 after buying an additional 848,043 shares in the last quarter. Federated Investors Inc. PA lifted its holdings in shares of Verizon Communications by 4.8% in the second quarter. Federated Investors Inc. PA now owns 20,896,007 shares of the cell phone carrier’s stock worth $933,215,000 after buying an additional 956,578 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in shares of Verizon Communications by 7.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 19,403,560 shares of the cell phone carrier’s stock worth $866,563,000 after buying an additional 1,277,604 shares in the last quarter. Finally, Macquarie Group Ltd. lifted its holdings in shares of Verizon Communications by 2.1% in the first quarter. Macquarie Group Ltd. now owns 15,452,275 shares of the cell phone carrier’s stock worth $753,262,000 after buying an additional 318,586 shares in the last quarter. Hedge funds and other institutional investors own 63.37% of the company’s stock.

Verizon Communications Inc. (NYSE:VZ) traded down $0.20 during mid-day trading on Wednesday, hitting $50.73. 9,428,208 shares of the company’s stock traded hands, compared to its average volume of 15,640,251. The stock has a market capitalization of $206,580.00, a P/E ratio of 13.79, a PEG ratio of 4.86 and a beta of 0.57. Verizon Communications Inc. has a 52-week low of $42.80 and a 52-week high of $54.83. The company has a debt-to-equity ratio of 4.05, a current ratio of 1.07 and a quick ratio of 1.02.

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

In other news, EVP Craig L. Silliman sold 610 shares of the firm’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $47.41, for a total value of $28,920.10. Following the transaction, the executive vice president now owns 3,269 shares in the company, valued at $154,983.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 1,830 shares of company stock worth $88,609 in the last 90 days. Company insiders own 0.13% of the company’s stock.

A number of equities research analysts have recently issued reports on the stock. ValuEngine raised shares of Verizon Communications from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Wells Fargo & Company raised shares of Verizon Communications from a “market perform” rating to an “outperform” rating and set a $50.00 target price on the stock in a research note on Monday, November 20th. Macquarie reaffirmed a “hold” rating and issued a $52.00 target price on shares of Verizon Communications in a research note on Sunday, October 22nd. KeyCorp reaffirmed a “hold” rating on shares of Verizon Communications in a research note on Saturday, October 21st. Finally, Bank of America set a $52.00 target price on shares of Verizon Communications and gave the company a “buy” rating in a research note on Friday, October 20th. Two research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Verizon Communications presently has a consensus rating of “Hold” and a consensus target price of $51.25.

COPYRIGHT VIOLATION WARNING: “Chicago Equity Partners LLC Cuts Holdings in Verizon Communications Inc. (VZ)” was originally posted by StockNewsTimes and is the property of of StockNewsTimes. If you are reading this article on another domain, it was illegally copied and republished in violation of United States and international copyright law. The legal version of this article can be accessed at https://stocknewstimes.com/2017/12/06/chicago-equity-partners-llc-cuts-holdings-in-verizon-communications-inc-vz.html.

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.

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

Receive News & Ratings for Verizon Communications Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verizon Communications Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply