Verizon Communications Inc. (VZ) Shares Sold by AMP Capital Investors Ltd

AMP Capital Investors Ltd lessened its position in Verizon Communications Inc. (NYSE:VZ) by 1.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,446,023 shares of the cell phone carrier’s stock after selling 15,409 shares during the quarter. AMP Capital Investors Ltd’s holdings in Verizon Communications were worth $71,563,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. United Bank increased its holdings in Verizon Communications by 0.6% during the 2nd quarter. United Bank now owns 44,361 shares of the cell phone carrier’s stock worth $1,981,000 after purchasing an additional 263 shares during the period. Telemus Capital LLC increased its holdings in Verizon Communications by 13.7% during the 2nd quarter. Telemus Capital LLC now owns 42,489 shares of the cell phone carrier’s stock worth $1,898,000 after purchasing an additional 5,114 shares during the period. Korea Investment CORP increased its holdings in Verizon Communications by 1.5% during the 2nd quarter. Korea Investment CORP now owns 2,679,111 shares of the cell phone carrier’s stock worth $119,649,000 after purchasing an additional 39,575 shares during the period. Eads & Heald Investment Counsel increased its holdings in Verizon Communications by 2.3% during the 2nd quarter. Eads & Heald Investment Counsel now owns 28,467 shares of the cell phone carrier’s stock worth $1,271,000 after purchasing an additional 640 shares during the period. Finally, Rand Wealth LLC increased its holdings in Verizon Communications by 1.3% during the 2nd quarter. Rand Wealth LLC now owns 171,686 shares of the cell phone carrier’s stock worth $7,667,000 after purchasing an additional 2,187 shares during the period. Hedge funds and other institutional investors own 64.21% of the company’s stock.

Several brokerages have weighed in on VZ. KeyCorp upped their price target on Verizon Communications from $50.00 to $53.00 and gave the stock a “sector weight” rating in a report on Tuesday, January 2nd. Macquarie restated a “hold” rating and set a $54.00 price target on shares of Verizon Communications in a report on Wednesday, January 24th. Nomura upped their price target on Verizon Communications from $61.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, January 24th. Bank of America upped their price target on Verizon Communications from $55.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, January 24th. Finally, SunTrust Banks upped their price objective on Verizon Communications to $58.00 and gave the stock a “hold” rating in a research report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $53.48.

Verizon Communications Inc. (NYSE:VZ) opened at $47.87 on Friday. The stock has a market capitalization of $195,280.00, a PE ratio of 14.68, a PEG ratio of 1.99 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 released its quarterly earnings data on Tuesday, January 23rd. The cell phone carrier reported $0.86 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by ($0.02). The business 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 company’s revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.86 earnings per share. equities research analysts predict that Verizon Communications Inc. will post 4.54 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, February 1st. Investors of record on Wednesday, January 10th were given a $0.59 dividend. The ex-dividend date was Tuesday, January 9th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.93%. Verizon Communications’s dividend payout ratio (DPR) is presently 72.39%.

In related news, EVP Craig L. Silliman sold 610 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now directly owns 3,269 shares of the company’s stock, valued at approximately $154,983.29. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Anthony T. Skiadas sold 6,967 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $49.80, for a total value of $346,956.60. Following the completion of the sale, 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. 0.13% of the stock is owned by corporate insiders.

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

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