Osborn Williams & Donohoe LLC lessened its holdings in Verizon Communications Inc. (NYSE:VZ) by 66.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,447 shares of the cell phone carrier’s stock after selling 21,074 shares during the period. Osborn Williams & Donohoe LLC’s holdings in Verizon Communications were worth $517,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Whitnell & Co. increased its stake in 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 last quarter. Allegis Investment Advisors LLC increased its stake in Verizon Communications by 9.0% in the 1st quarter. Allegis Investment Advisors LLC now owns 59,067 shares of the cell phone carrier’s stock valued at $2,880,000 after buying an additional 4,898 shares during the last quarter. DekaBank Deutsche Girozentrale increased its stake in Verizon Communications by 4.6% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,673,761 shares of the cell phone carrier’s stock valued at $74,961,000 after buying an additional 72,980 shares during the last quarter. Segantii Capital Management Ltd purchased a new stake in Verizon Communications in the 1st quarter valued at about $6,094,000. Finally, Canada Pension Plan Investment Board increased its stake in Verizon Communications by 1.3% in the 2nd quarter. Canada Pension Plan Investment Board now owns 10,704,239 shares of the cell phone carrier’s stock valued at $478,051,000 after buying an additional 136,700 shares during the last quarter. Institutional investors own 63.37% of the company’s stock.
VZ has been the subject of several analyst reports. Instinet increased their price objective on shares of Verizon Communications from $47.00 to $61.00 and gave the company a “buy” rating in a research note on Tuesday, December 12th. Nomura upgraded shares of Verizon Communications from a “neutral” rating to a “buy” rating and increased their price objective for the company from $47.00 to $61.00 in a research note on Tuesday, December 12th. ValuEngine upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Moffett Nathanson reiterated a “buy” rating on shares of Verizon Communications in a research note on Thursday, October 12th. Finally, Bank of America set a $52.00 price objective on shares of Verizon Communications and gave the company a “buy” rating in a research note on Friday, October 20th. Two equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Verizon Communications currently has an average rating of “Hold” and a consensus price target of $51.99.
Verizon Communications Inc. (VZ) opened at $53.25 on Tuesday. Verizon Communications Inc. has a 52-week low of $42.80 and a 52-week high of $54.83. The firm has a market cap of $217,230.00, a P/E ratio of 14.04, a PEG ratio of 4.94 and a beta of 0.57. 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 (NYSE:VZ) last released its earnings results on Thursday, October 19th. The cell phone carrier reported $0.98 earnings per share for the quarter, meeting the Zacks’ 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 during the quarter, compared to the consensus estimate of $31.45 billion. During the same period in the prior year, the firm earned $1.01 EPS. The company’s revenue was up 2.5% compared to the same quarter last year. sell-side analysts anticipate that Verizon Communications Inc. will post 3.77 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date is Tuesday, January 9th. Verizon Communications’s dividend payout ratio is currently 60.51%.
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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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