Swiss National Bank Has $836.08 Million Holdings in Verizon Communications Inc. (VZ)

Swiss National Bank raised its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 0.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,893,830 shares of the cell phone carrier’s stock after acquiring an additional 154,300 shares during the quarter. Verizon Communications comprises approximately 1.0% of Swiss National Bank’s portfolio, making the stock its 12th biggest holding. Swiss National Bank owned approximately 414,121.30% of Verizon Communications worth $836,076,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Whitnell & Co. increased its holdings in shares of Verizon Communications by 1.2% in the second quarter. Whitnell & Co. now owns 10,316 shares of the cell phone carrier’s stock worth $461,000 after purchasing an additional 125 shares during the period. Caxton Associates LP bought a new position in shares of Verizon Communications in the second quarter worth $607,000. DekaBank Deutsche Girozentrale increased its holdings in shares of Verizon Communications by 4.6% in the second quarter. DekaBank Deutsche Girozentrale now owns 1,673,761 shares of the cell phone carrier’s stock worth $74,961,000 after purchasing an additional 72,980 shares during the period. Canada Pension Plan Investment Board increased its holdings in shares of Verizon Communications by 1.3% in the second quarter. Canada Pension Plan Investment Board now owns 10,704,239 shares of the cell phone carrier’s stock worth $478,051,000 after purchasing an additional 136,700 shares during the period. Finally, Alps Advisors Inc. increased its holdings in shares of Verizon Communications by 5.2% in the second quarter. Alps Advisors Inc. now owns 1,018,021 shares of the cell phone carrier’s stock worth $45,465,000 after purchasing an additional 50,602 shares during the period. 63.22% of the stock is currently owned by institutional investors and hedge funds.

Shares of Verizon Communications Inc. (VZ) opened at $51.91 on Friday. The company has a debt-to-equity ratio of 4.05, a quick ratio of 1.02 and a current ratio of 1.07. Verizon Communications Inc. has a 1 year low of $42.80 and a 1 year high of $53.69. The stock has a market cap of $210,295.17, a PE ratio of 13.75, a price-to-earnings-growth ratio of 4.58 and a beta of 0.57.

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

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $2.36 annualized dividend and a yield of 4.55%. Verizon Communications’s payout ratio is 60.51%.

In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of the company’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $47.41, for a total transaction of $28,920.10. Following the completion of the sale, the executive vice president now directly owns 3,269 shares in the company, valued at $154,983.29. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.13% of the company’s stock.

VZ has been the topic of several research analyst reports. Macquarie reaffirmed a “hold” rating and issued a $52.00 price target on shares of Verizon Communications in a report on Sunday, October 22nd. SunTrust Banks reiterated a “hold” rating and issued a $50.00 target price on shares of Verizon Communications in a research report on Friday, October 20th. Moffett Nathanson reiterated a “buy” rating on shares of Verizon Communications in a research report on Thursday, October 12th. Wells Fargo & Co upgraded shares of Verizon Communications from a “market perform” rating to an “outperform” rating and set a $50.00 target price for the company in a research report on Monday, November 20th. Finally, Instinet upped their target price on shares of Verizon Communications from $47.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, December 12th. Two research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $51.55.

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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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