Verizon Communications Inc. (VZ) Shares Sold by American National Insurance Co. TX

Share on StockTwits

American National Insurance Co. TX reduced its holdings in Verizon Communications Inc. (NYSE:VZ) by 14.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 260,273 shares of the cell phone carrier’s stock after selling 45,137 shares during the quarter. American National Insurance Co. TX’s holdings in Verizon Communications were worth $13,896,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of VZ. FMR LLC increased its holdings in shares of Verizon Communications by 8.6% during the second quarter. FMR LLC now owns 69,165,256 shares of the cell phone carrier’s stock valued at $3,479,704,000 after acquiring an additional 5,481,532 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Verizon Communications by 4.6% during the second quarter. Bank of New York Mellon Corp now owns 52,863,812 shares of the cell phone carrier’s stock valued at $2,659,579,000 after acquiring an additional 2,302,664 shares in the last quarter. Morgan Stanley increased its holdings in shares of Verizon Communications by 3.3% during the second quarter. Morgan Stanley now owns 34,759,538 shares of the cell phone carrier’s stock valued at $1,748,752,000 after acquiring an additional 1,119,926 shares in the last quarter. Schwab Charles Investment Management Inc. increased its holdings in shares of Verizon Communications by 4.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 23,794,249 shares of the cell phone carrier’s stock valued at $1,197,089,000 after acquiring an additional 1,040,614 shares in the last quarter. Finally, LSV Asset Management increased its holdings in shares of Verizon Communications by 12.0% during the third quarter. LSV Asset Management now owns 17,348,354 shares of the cell phone carrier’s stock valued at $926,228,000 after acquiring an additional 1,852,838 shares in the last quarter. Institutional investors and hedge funds own 66.14% of the company’s stock.

Several research firms have recently commented on VZ. ValuEngine upgraded Verizon Communications from a “hold” rating to a “buy” rating in a report on Wednesday, October 24th. JPMorgan Chase & Co. downgraded Verizon Communications from an “overweight” rating to a “neutral” rating and set a $62.00 price objective for the company. in a report on Monday, December 3rd. Bank of America restated a “buy” rating and set a $58.00 price objective on shares of Verizon Communications in a report on Monday, October 22nd. Zacks Investment Research upgraded Verizon Communications from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a report on Saturday, January 26th. Finally, Tigress Financial restated a “hold” rating on shares of Verizon Communications in a report on Friday, December 28th. Nine equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Verizon Communications currently has an average rating of “Buy” and a consensus target price of $55.90.

Shares of NYSE:VZ opened at $54.05 on Tuesday. The company has a market cap of $222.70 billion, a P/E ratio of 11.48, a P/E/G ratio of 2.85 and a beta of 0.48. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.88 and a current ratio of 0.91. Verizon Communications Inc. has a 12-month low of $46.08 and a 12-month high of $61.58.

Verizon Communications (NYSE:VZ) last announced its earnings results on Tuesday, January 29th. The cell phone carrier reported $1.12 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.09 by $0.03. The company had revenue of $34.28 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.86 earnings per share. As a group, research analysts predict that Verizon Communications Inc. will post 4.66 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, February 1st. Investors of record on Thursday, January 10th were given a dividend of $0.6025 per share. The ex-dividend date of this dividend was Wednesday, January 9th. This represents a $2.41 annualized dividend and a dividend yield of 4.46%. Verizon Communications’s payout ratio is 51.17%.

ILLEGAL ACTIVITY WARNING: This article was first published by Week Herald and is the sole property of of Week Herald. If you are viewing this article on another site, it was illegally copied and reposted in violation of U.S. & international copyright & trademark laws. The original version of this article can be viewed at https://weekherald.com/2019/02/12/verizon-communications-inc-vz-shares-sold-by-american-national-insurance-co-tx.html.

Verizon Communications Company Profile

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; multimedia, business-focused, and location-based services, as well as international travel services; and network access services to deliver various Internet of Things products and services.

Further Reading: Mutual Funds

Want to see what other hedge funds are holding VZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Verizon Communications Inc. (NYSE:VZ).

Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

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.

Leave a Reply