Public Employees Retirement Association of Colorado Acquires 613,583 Shares of Verizon Communications Inc. (NYSE:VZ)

Public Employees Retirement Association of Colorado increased its holdings in Verizon Communications Inc. (NYSE:VZFree Report) by 5,895.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 623,990 shares of the cell phone carrier’s stock after buying an additional 613,583 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Verizon Communications were worth $23,524,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of VZ. Bollard Group LLC boosted its holdings in Verizon Communications by 58.6% in the 4th quarter. Bollard Group LLC now owns 10,702 shares of the cell phone carrier’s stock valued at $403,000 after purchasing an additional 3,953 shares during the period. Essential Planning LLC. bought a new stake in shares of Verizon Communications during the 4th quarter worth $205,000. Annex Advisory Services LLC raised its position in Verizon Communications by 781.0% in the 4th quarter. Annex Advisory Services LLC now owns 101,903 shares of the cell phone carrier’s stock worth $3,842,000 after purchasing an additional 90,336 shares during the period. Morningstar Investment Management LLC raised its position in Verizon Communications by 1.8% in the 4th quarter. Morningstar Investment Management LLC now owns 270,977 shares of the cell phone carrier’s stock worth $10,216,000 after purchasing an additional 4,761 shares during the period. Finally, Crossmark Global Holdings Inc. increased its position in shares of Verizon Communications by 0.7% in the fourth quarter. Crossmark Global Holdings Inc. now owns 872,673 shares of the cell phone carrier’s stock valued at $32,899,000 after acquiring an additional 6,178 shares during the period. 62.06% of the stock is owned by institutional investors.

Verizon Communications Stock Down 0.5 %

NYSE VZ traded down $0.20 during trading on Wednesday, reaching $41.36. 11,961,668 shares of the company’s stock traded hands, compared to its average volume of 19,189,084. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.71 and a quick ratio of 0.67. The firm has a market cap of $174.09 billion, a price-to-earnings ratio of 15.43, a price-to-earnings-growth ratio of 2.97 and a beta of 0.42. The company’s 50 day simple moving average is $40.30 and its two-hundred day simple moving average is $39.72. Verizon Communications Inc. has a 12-month low of $30.14 and a 12-month high of $43.42.

Verizon Communications (NYSE:VZGet Free Report) last posted its earnings results on Monday, April 22nd. The cell phone carrier reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.03. The business had revenue of $33 billion for the quarter, compared to the consensus estimate of $33.23 billion. Verizon Communications had a net margin of 8.44% and a return on equity of 20.41%. The company’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter last year, the firm posted $1.20 EPS. As a group, sell-side analysts forecast that Verizon Communications Inc. will post 4.6 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 6.43%. Verizon Communications’s payout ratio is presently 99.25%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Wells Fargo & Company decreased their price objective on shares of Verizon Communications from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 23rd. Tigress Financial upped their target price on shares of Verizon Communications from $50.00 to $52.00 and gave the company a “buy” rating in a report on Friday, May 17th. StockNews.com upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating in a research report on Saturday, May 4th. Royal Bank of Canada increased their target price on shares of Verizon Communications from $36.00 to $40.00 and gave the company a “sector perform” rating in a research note on Tuesday, April 2nd. Finally, Redburn Atlantic raised shares of Verizon Communications from a “sell” rating to a “neutral” rating and increased their target price for the company from $33.00 to $39.00 in a research note on Friday, March 22nd. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $44.36.

Get Our Latest Stock Report on Verizon Communications

Verizon Communications Company Profile

(Free Report)

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).

Further Reading

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

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