DekaBank Deutsche Girozentrale lessened its holdings in shares of Verizon Communications Inc. (NYSE:VZ – Free Report) by 31.9% in the first quarter, according to its most recent filing with the SEC. The firm owned 2,729,603 shares of the cell phone carrier’s stock after selling 1,276,357 shares during the period. DekaBank Deutsche Girozentrale owned 0.06% of Verizon Communications worth $105,679,000 as of its most recent filing with the SEC.
Other institutional investors have also recently bought and sold shares of the company. HBC Financial Services PLLC lifted its position in Verizon Communications by 250.0% in the 4th quarter. HBC Financial Services PLLC now owns 700 shares of the cell phone carrier’s stock valued at $28,000 after acquiring an additional 500 shares in the last quarter. Kepos Capital LP bought a new stake in Verizon Communications in the 4th quarter valued at $36,000. Itau Unibanco Holding S.A. lifted its position in Verizon Communications by 111.8% in the 4th quarter. Itau Unibanco Holding S.A. now owns 1,057 shares of the cell phone carrier’s stock valued at $42,000 after acquiring an additional 558 shares in the last quarter. True Wealth Design LLC bought a new stake in Verizon Communications in the 4th quarter valued at $42,000. Finally, Luken Investment Analytics LLC bought a new stake in Verizon Communications in the 4th quarter valued at $43,000. Institutional investors and hedge funds own 61.83% of the company’s stock.
Insider Activity at Verizon Communications
In related news, EVP Craig L. Silliman sold 3,340 shares of the company’s stock in a transaction dated Monday, April 10th. The shares were sold at an average price of $39.21, for a total value of $130,961.40. Following the transaction, the executive vice president now owns 73,015 shares in the company, valued at approximately $2,862,918.15. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, EVP Joseph J. Russo sold 7,585 shares of the company’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $36.30, for a total value of $275,335.50. Following the transaction, the executive vice president now owns 8,582 shares in the company, valued at approximately $311,526.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Craig L. Silliman sold 3,340 shares of the stock in a transaction that occurred on Monday, April 10th. The stock was sold at an average price of $39.21, for a total transaction of $130,961.40. Following the transaction, the executive vice president now owns 73,015 shares in the company, valued at approximately $2,862,918.15. The disclosure for this sale can be found here. 0.02% of the stock is owned by company insiders.
Analysts Set New Price Targets
Verizon Communications Stock Down 1.6 %
Verizon Communications stock opened at $35.90 on Friday. The firm has a market capitalization of $150.92 billion, a PE ratio of 6.98, a P/E/G ratio of 2.14 and a beta of 0.38. The company’s 50-day moving average is $36.32 and its 200-day moving average is $38.23. Verizon Communications Inc. has a fifty-two week low of $33.72 and a fifty-two week high of $51.36. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.75 and a quick ratio of 0.70.
Verizon Communications (NYSE:VZ – Free Report) last released its quarterly earnings data on Tuesday, April 25th. The cell phone carrier reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.01. Verizon Communications had a net margin of 15.85% and a return on equity of 23.31%. The company had revenue of $32.91 billion for the quarter, compared to analyst estimates of $33.64 billion. During the same period in the previous year, the business earned $1.35 EPS. Verizon Communications’s revenue for the quarter was down 1.9% compared to the same quarter last year. Sell-side analysts anticipate that Verizon Communications Inc. will post 4.69 earnings per share for the current year.
Verizon Communications Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 1st. Investors of record on Monday, July 10th will be paid a $0.6525 dividend. The ex-dividend date is Friday, July 7th. This represents a $2.61 dividend on an annualized basis and a yield of 7.27%. Verizon Communications’s dividend payout ratio (DPR) is currently 50.78%.
About Verizon Communications
Verizon Communications Inc, through its subsidiaries, provides 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).
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