Junto Capital Management LP boosted its position in Verizon Communications Inc. (NYSE:VZ) by 145.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 206,000 shares of the cell phone carrier’s stock after purchasing an additional 660,200 shares during the period. Junto Capital Management LP’s holdings in Verizon Communications were worth $9,200,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently made changes to their positions in the stock. Whitnell & Co. lifted its position in shares of Verizon Communications by 1.2% during the 2nd quarter. Whitnell & Co. now owns 10,316 shares of the cell phone carrier’s stock valued at $461,000 after acquiring an additional 125 shares during the period. Allegis Investment Advisors LLC lifted its position in shares of Verizon Communications by 9.0% during 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 acquiring an additional 4,898 shares during the period. DekaBank Deutsche Girozentrale lifted its position in shares of Verizon Communications by 4.6% during 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 acquiring an additional 72,980 shares during the period. Segantii Capital Management Ltd acquired a new stake in shares of Verizon Communications during the 1st quarter valued at approximately $6,094,000. Finally, Canada Pension Plan Investment Board lifted its position in shares of Verizon Communications by 1.3% during 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 acquiring an additional 136,700 shares during the period. Hedge funds and other institutional investors own 63.37% of the company’s stock.
A number of equities research analysts have recently issued reports on the stock. ValuEngine upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Robert W. Baird reiterated a “hold” rating and set a $49.00 price target on shares of Verizon Communications in a research report on Wednesday, October 4th. Macquarie reiterated a “hold” rating and set a $52.00 price target on shares of Verizon Communications in a research report on Sunday, October 22nd. KeyCorp reiterated a “hold” rating on shares of Verizon Communications in a research report on Saturday, October 21st. Finally, Bank of America set a $52.00 price target on shares of Verizon Communications and gave the company a “buy” rating in a research report on Friday, October 20th. Two equities 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. Verizon Communications presently has an average rating of “Hold” and an average price target of $51.25.
Shares of Verizon Communications Inc. (VZ) traded up $0.67 on Monday, hitting $51.09. 13,639,800 shares of the stock were exchanged, compared to its average volume of 15,623,382. 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 fifty-two week low of $42.80 and a fifty-two week high of $54.83. The stock has a market cap of $208,418.64, a PE ratio of 13.62, a price-to-earnings-growth ratio of 4.80 and a beta of 0.57.
Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Thursday, October 19th. The cell phone carrier reported $0.98 earnings per share for the quarter, hitting 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 business had revenue of $31.70 billion during the quarter, compared to analysts’ expectations of $31.45 billion. During the same period last year, the company posted $1.01 EPS. The company’s revenue was up 2.5% on a year-over-year basis. equities analysts expect that Verizon Communications Inc. will post 3.77 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th will be paid a $0.59 dividend. The ex-dividend date is Tuesday, January 9th. This represents a $2.36 annualized dividend and a yield of 4.62%. Verizon Communications’s payout ratio is currently 60.51%.
In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of Verizon Communications stock in a transaction that occurred on Monday, November 27th. The shares were 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 1,830 shares of company stock valued at $88,609 over the last ninety days. 0.13% of the stock is owned by corporate insiders.
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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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