Robeco Institutional Asset Management B.V. Increases Stock Holdings in Verizon Communications Inc. (NYSE:VZ)

Robeco Institutional Asset Management B.V. boosted its holdings in Verizon Communications Inc. (NYSE:VZ) by 2.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,962,074 shares of the cell phone carrier’s stock after purchasing an additional 84,280 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Verizon Communications were worth $179,720,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Bernard Wealth Management Corp. increased its stake in shares of Verizon Communications by 81.0% during the 1st quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier’s stock valued at $25,000 after acquiring an additional 243 shares during the last quarter. Cherry Tree Wealth Management LLC grew its holdings in Verizon Communications by 71.8% in the first quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier’s stock valued at $26,000 after purchasing an additional 244 shares during the period. Garde Capital Inc. purchased a new stake in Verizon Communications in the first quarter valued at approximately $26,000. Mainstream Capital Management LLC acquired a new position in Verizon Communications during the fourth quarter worth approximately $28,000. Finally, Mattson Financial Services LLC raised its stake in Verizon Communications by 114.6% during the fourth quarter. Mattson Financial Services LLC now owns 777 shares of the cell phone carrier’s stock worth $31,000 after purchasing an additional 415 shares during the period. 62.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on VZ. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $45.00 price target (up previously from $42.00) on shares of Verizon Communications in a report on Tuesday, March 25th. Scotiabank lifted their target price on Verizon Communications from $48.50 to $49.00 and gave the company a “sector perform” rating in a report on Wednesday, April 23rd. Oppenheimer boosted their price target on Verizon Communications from $48.00 to $50.00 and gave the company an “outperform” rating in a research report on Tuesday, April 1st. Tigress Financial raised their price objective on Verizon Communications from $55.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, April 28th. Finally, Wolfe Research cut Verizon Communications from an “outperform” rating to a “peer perform” rating in a report on Wednesday, March 12th. Nine equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.41.

Verizon Communications Stock Down 1.1%

NYSE VZ opened at $42.15 on Thursday. The company has a quick ratio of 0.58, a current ratio of 0.61 and a debt-to-equity ratio of 1.19. Verizon Communications Inc. has a fifty-two week low of $37.59 and a fifty-two week high of $47.36. The business has a 50 day moving average price of $43.22 and a two-hundred day moving average price of $42.21. The stock has a market cap of $177.71 billion, a PE ratio of 10.04, a P/E/G ratio of 3.16 and a beta of 0.38.

Verizon Communications (NYSE:VZ) last posted its earnings results on Tuesday, April 22nd. The cell phone carrier reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.04. The business had revenue of $33.50 billion for the quarter, compared to analysts’ expectations of $33.31 billion. Verizon Communications had a net margin of 13.14% and a return on equity of 19.66%. As a group, sell-side analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be issued a $0.6775 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $2.71 dividend on an annualized basis and a yield of 6.43%. Verizon Communications’s dividend payout ratio is currently 64.52%.

Insider Buying and Selling at Verizon Communications

In other Verizon Communications news, CEO Kyle Malady sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $43.88, for a total transaction of $329,100.00. Following the completion of the sale, the chief executive officer now owns 19,008 shares in the company, valued at $834,071.04. This trade represents a 28.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 21,500 shares of company stock valued at $938,400 in the last ninety days. Insiders own 0.10% of the company’s stock.

Verizon Communications Company Profile

Verizon Communications Inc, through its subsidiaries, engages in the provision of communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. It operates in two segments, Verizon Consumer Group (Consumer) and Verizon Business Group (Business).