FDO Partners LLC Grows Position in Verizon Communications Inc. (VZ)

FDO Partners LLC increased its position in shares of Verizon Communications Inc. (NYSE:VZ) by 113.5% during the third quarter, Holdings Channel reports. The institutional investor owned 35,876 shares of the cell phone carrier’s stock after buying an additional 19,075 shares during the quarter. FDO Partners LLC’s holdings in Verizon Communications were worth $1,776,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Cantor Fitzgerald Investment Adviser L.P. purchased a new position in shares of Verizon Communications in the 2nd quarter valued at approximately $397,000. Gamble Jones Investment Counsel lifted its holdings in shares of Verizon Communications by 2.0% in the 2nd quarter. Gamble Jones Investment Counsel now owns 170,452 shares of the cell phone carrier’s stock valued at $7,612,000 after buying an additional 3,393 shares during the period. Barry Investment Advisors LLC lifted its holdings in shares of Verizon Communications by 0.8% in the 2nd quarter. Barry Investment Advisors LLC now owns 64,165 shares of the cell phone carrier’s stock valued at $2,866,000 after buying an additional 499 shares during the period. ST Germain D J Co. Inc. lifted its holdings in shares of Verizon Communications by 12.6% in the 2nd quarter. ST Germain D J Co. Inc. now owns 34,202 shares of the cell phone carrier’s stock valued at $1,527,000 after buying an additional 3,827 shares during the period. Finally, Whitnell & Co. lifted its holdings in shares of Verizon Communications by 1.2% in 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 during the period. Hedge funds and other institutional investors own 63.31% of the company’s stock.

In other news, EVP Craig L. Silliman sold 610 shares of the business’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $47.41, for a total value of $28,920.10. Following the completion of the transaction, the executive vice president now directly owns 3,269 shares of the company’s stock, valued at $154,983.29. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Anthony T. Skiadas sold 6,967 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $49.80, for a total value of $346,956.60. Following the completion of the transaction, the senior vice president now directly owns 16,059 shares of the company’s stock, valued at $799,738.20. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Several research firms have recently commented on VZ. KeyCorp raised their price target on Verizon Communications from $50.00 to $53.00 and gave the company a “sector weight” rating in a report on Tuesday, January 2nd. Bank of America raised their price target on Verizon Communications from $55.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. Nomura raised their price target on Verizon Communications from $61.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. Macquarie reissued a “hold” rating and issued a $54.00 price target on shares of Verizon Communications in a report on Wednesday, January 24th. Finally, SunTrust Banks raised their price target on Verizon Communications to $58.00 and gave the company a “hold” rating in a report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and ten have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $53.51.

Verizon Communications Inc. (VZ) opened at $50.15 on Monday. The stock has a market capitalization of $204,580.00, a price-to-earnings ratio of 15.38, a P/E/G ratio of 2.04 and a beta of 0.58. Verizon Communications Inc. has a 1-year low of $42.80 and a 1-year high of $54.77. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.54.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Tuesday, January 23rd. The cell phone carrier reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.02). The firm had revenue of $33.96 billion for the quarter, compared to analyst estimates of $33.20 billion. Verizon Communications had a return on equity of 48.97% and a net margin of 23.88%. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.86 earnings per share. analysts predict that Verizon Communications Inc. will post 4.54 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 1st. Investors of record on Wednesday, January 10th were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, January 9th. This represents a $2.36 annualized dividend and a yield of 4.71%. Verizon Communications’s dividend payout ratio is presently 72.39%.

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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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