Insight Folios Inc Sells 373 Shares of Verizon Communications Inc. (NYSE:VZ)

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Insight Folios Inc lessened its holdings in Verizon Communications Inc. (NYSE:VZ) by 0.7% in the third quarter, Holdings Channel reports. The institutional investor owned 54,874 shares of the cell phone carrier’s stock after selling 373 shares during the period. Verizon Communications accounts for approximately 3.0% of Insight Folios Inc’s holdings, making the stock its 14th largest position. Insight Folios Inc’s holdings in Verizon Communications were worth $3,264,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Capital World Investors raised its holdings in Verizon Communications by 6.2% during the 1st quarter. Capital World Investors now owns 54,544,125 shares of the cell phone carrier’s stock worth $2,930,662,000 after purchasing an additional 3,202,996 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Verizon Communications by 0.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 41,576,844 shares of the cell phone carrier’s stock worth $2,292,133,000 after buying an additional 256,321 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Verizon Communications by 1.1% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 36,317,442 shares of the cell phone carrier’s stock worth $2,002,182,000 after buying an additional 391,277 shares during the period. Capital International Investors grew its position in Verizon Communications by 17.4% in the 1st quarter. Capital International Investors now owns 35,217,774 shares of the cell phone carrier’s stock valued at $1,892,254,000 after purchasing an additional 5,213,722 shares during the period. Finally, California Public Employees Retirement System grew its position in Verizon Communications by 5.0% in the 2nd quarter. California Public Employees Retirement System now owns 24,816,734 shares of the cell phone carrier’s stock valued at $1,368,147,000 after purchasing an additional 1,180,393 shares during the period. Institutional investors and hedge funds own 64.85% of the company’s stock.

Several analysts recently issued reports on the stock. Scotiabank lifted their price target on shares of Verizon Communications from $63.00 to $64.00 and gave the company a “sector outperform” rating in a research report on Monday, July 27th. Raymond James lifted their price target on shares of Verizon Communications from $61.00 to $64.00 and gave the company an “outperform” rating in a research report on Monday, July 27th. Oppenheimer assumed coverage on shares of Verizon Communications in a research report on Tuesday, September 15th. They issued a “buy” rating and a $70.00 price target for the company. Royal Bank of Canada reaffirmed a “hold” rating and set a $57.00 price objective on shares of Verizon Communications in a report on Wednesday, September 9th. Finally, Credit Suisse Group reissued a “hold” rating and set a $61.00 price target on shares of Verizon Communications in a research report on Thursday, July 2nd. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Verizon Communications currently has an average rating of “Hold” and a consensus target price of $62.24.

Shares of Verizon Communications stock traded down $0.11 on Friday, reaching $58.05. 13,366,404 shares of the company traded hands, compared to its average volume of 16,959,736. Verizon Communications Inc. has a 52 week low of $48.84 and a 52 week high of $62.22. The company has a 50 day moving average of $59.66 and a 200 day moving average of $57.28. The firm has a market capitalization of $240.21 billion, a PE ratio of 12.59, a PEG ratio of 3.67 and a beta of 0.46. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.96 and a quick ratio of 0.93.

Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Friday, July 24th. The cell phone carrier reported $1.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.15 by $0.03. The company had revenue of $30.40 billion during the quarter, compared to the consensus estimate of $29.98 billion. Verizon Communications had a net margin of 14.76% and a return on equity of 32.15%. Verizon Communications’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same period last year, the firm earned $1.23 EPS. As a group, analysts anticipate that Verizon Communications Inc. will post 4.78 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Friday, October 9th will be issued a $0.6275 dividend. The ex-dividend date is Thursday, October 8th. This is an increase from Verizon Communications’s previous quarterly dividend of $0.62. This represents a $2.51 annualized dividend and a yield of 4.32%. Verizon Communications’s dividend payout ratio (DPR) is 52.18%.

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; international travel wireless services; and network access services to deliver various Internet of Things products and services, as well as offers digital advertising and digital media services platforms.

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

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