Kiwi Wealth Investments Limited Partnership raised its position in Verizon Communications Inc. (NYSE:VZ) by 41.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 213,868 shares of the cell phone carrier’s stock after buying an additional 63,026 shares during the quarter. Verizon Communications comprises about 1.1% of Kiwi Wealth Investments Limited Partnership’s holdings, making the stock its 24th largest position. Kiwi Wealth Investments Limited Partnership’s holdings in Verizon Communications were worth $11,418,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of VZ. EP Wealth Advisors LLC grew its position in Verizon Communications by 20.0% during the third quarter. EP Wealth Advisors LLC now owns 260,237 shares of the cell phone carrier’s stock worth $13,894,000 after buying an additional 43,322 shares in the last quarter. Rice Partnership LLC grew its position in Verizon Communications by 72.5% during the third quarter. Rice Partnership LLC now owns 9,578 shares of the cell phone carrier’s stock worth $511,000 after buying an additional 4,027 shares in the last quarter. National Pension Service grew its position in Verizon Communications by 1.2% during the third quarter. National Pension Service now owns 3,760,315 shares of the cell phone carrier’s stock worth $200,763,000 after buying an additional 44,836 shares in the last quarter. Sfmg LLC grew its position in Verizon Communications by 16.6% during the third quarter. Sfmg LLC now owns 16,447 shares of the cell phone carrier’s stock worth $931,000 after buying an additional 2,337 shares in the last quarter. Finally, Signaturefd LLC boosted its holdings in shares of Verizon Communications by 11.6% in the 3rd quarter. Signaturefd LLC now owns 31,714 shares of the cell phone carrier’s stock worth $1,693,000 after purchasing an additional 3,301 shares in the last quarter. Hedge funds and other institutional investors own 65.90% of the company’s stock.
In other news, Director Lowell C. Mcadam sold 285,988 shares of the stock in a transaction that occurred on Tuesday, February 26th. The stock was sold at an average price of $56.72, for a total value of $16,221,239.36. Following the completion of the transaction, the director now owns 362,932 shares of the company’s stock, valued at approximately $20,585,503.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Craig L. Silliman sold 1,349 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $57.12, for a total value of $77,054.88. Following the completion of the transaction, the executive vice president now directly owns 25,549 shares of the company’s stock, valued at approximately $1,459,358.88. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by corporate insiders.
VZ opened at $58.39 on Friday. The company has a market cap of $241.03 billion, a price-to-earnings ratio of 12.40, a price-to-earnings-growth ratio of 2.27 and a beta of 0.50. The company has a debt-to-equity ratio of 1.94, a current ratio of 0.91 and a quick ratio of 0.88. Verizon Communications Inc. has a one year low of $46.08 and a one year high of $61.58.
Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Tuesday, January 29th. The cell phone carrier reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.03. The business had revenue of $34.28 billion during the quarter, compared to analyst estimates of $34.45 billion. Verizon Communications had a return on equity of 35.96% and a net margin of 11.87%. Verizon Communications’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.86 EPS. Equities research analysts forecast that Verizon Communications Inc. will post 4.66 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be given a dividend of $0.6025 per share. This represents a $2.41 dividend on an annualized basis and a yield of 4.13%. The ex-dividend date of this dividend is Tuesday, April 9th. Verizon Communications’s payout ratio is 51.17%.
A number of equities analysts have recently issued reports on VZ shares. JPMorgan Chase & Co. cut Verizon Communications from an “overweight” rating to a “neutral” rating and set a $59.89 price objective for the company. in a report on Sunday, December 9th. Morgan Stanley cut Verizon Communications from an “overweight” rating to an “equal weight” rating and set a $58.00 target price for the company. in a report on Wednesday, December 12th. ValuEngine cut Verizon Communications from a “buy” rating to a “hold” rating in a report on Tuesday, January 29th. Tigress Financial restated a “hold” rating on shares of Verizon Communications in a report on Friday, December 28th. Finally, Zacks Investment Research upgraded Verizon Communications from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a report on Saturday, January 26th. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $55.76.
About Verizon Communications
Verizon Communications Inc, through its subsidiaries, offers communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company’s Wireless segment provides wireless voice and data services; Internet access on various notebook computers and tablets; international travel wireless services; and network access services to deliver various Internet of Things products and services, as well as offers digital advertising and digital media services platforms.
Recommended Story: Derivative
Receive News & Ratings for Verizon Communications Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Verizon Communications and related companies with MarketBeat.com’s FREE daily email newsletter.