Intl Fcstone Inc. Boosts Position in Verizon Communications Inc. (NYSE:VZ)
Intl Fcstone Inc. increased its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 9.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,462 shares of the cell phone carrier’s stock after purchasing an additional 1,875 shares during the quarter. Intl Fcstone Inc.’s holdings in Verizon Communications were worth $1,226,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the stock. Centaurus Financial Inc. increased its holdings in shares of Verizon Communications by 18.2% in the first quarter. Centaurus Financial Inc. now owns 1,476 shares of the cell phone carrier’s stock valued at $25,000 after purchasing an additional 227 shares during the period. Evolution Wealth Advisors LLC acquired a new position in shares of Verizon Communications in the second quarter valued at approximately $31,000. Daiwa SB Investments Ltd. increased its holdings in shares of Verizon Communications by 120.0% in the fourth quarter. Daiwa SB Investments Ltd. now owns 880 shares of the cell phone carrier’s stock valued at $49,000 after purchasing an additional 480 shares during the period. SeaBridge Investment Advisors LLC increased its holdings in shares of Verizon Communications by 506.0% in the fourth quarter. SeaBridge Investment Advisors LLC now owns 1,018 shares of the cell phone carrier’s stock valued at $57,000 after purchasing an additional 850 shares during the period. Finally, Cascade Investment Advisors Inc. increased its holdings in shares of Verizon Communications by 21.5% in the fourth quarter. Cascade Investment Advisors Inc. now owns 1,033 shares of the cell phone carrier’s stock valued at $58,000 after purchasing an additional 183 shares during the period. Hedge funds and other institutional investors own 65.55% of the company’s stock.
Shares of Verizon Communications stock traded up $0.72 during trading on Friday, reaching $57.08. The company’s stock had a trading volume of 12,332,514 shares, compared to its average volume of 11,086,294. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.83. Verizon Communications Inc. has a 12-month low of $51.43 and a 12-month high of $61.58. The firm has a market capitalization of $233.09 billion, a P/E ratio of 11.89, a P/E/G ratio of 2.79 and a beta of 0.51. The business’s 50 day simple moving average is $57.29.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be paid a $0.6025 dividend. The ex-dividend date of this dividend is Tuesday, July 9th. This represents a $2.41 dividend on an annualized basis and a dividend yield of 4.22%. Verizon Communications’s dividend payout ratio (DPR) is presently 51.17%.
A number of research firms have recently issued reports on VZ. Zacks Investment Research lowered G1 Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday, May 16th. Citigroup set a $12.00 target price on Avaya and gave the company a “hold” rating in a report on Monday, July 8th. Royal Bank of Canada set a €18.50 ($21.51) target price on ENI and gave the company a “neutral” rating in a report on Tuesday, April 23rd. Bank of America set a $64.00 target price on Verizon Communications and gave the company a “buy” rating in a report on Tuesday, April 23rd. Finally, UBS Group raised Loma Negra Compania Indl Argentina from a “sell” rating to a “neutral” rating in a report on Thursday, May 30th. Ten research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Verizon Communications has a consensus rating of “Hold” and a consensus price target of $59.87.
In related news, EVP Craig L. Silliman sold 1,349 shares of Verizon Communications stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $59.20, for a total value of $79,860.80. Following the sale, the executive vice president now directly owns 26,728 shares in the company, valued at $1,582,297.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Anthony T. Skiadas sold 6,134 shares of Verizon Communications stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $57.11, for a total value of $350,312.74. Following the completion of the sale, the senior vice president now owns 20,000 shares in the company, valued at $1,142,200. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,832 shares of company stock worth $508,618. Company insiders own 0.03% of the company’s stock.
About Verizon Communications
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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