World Asset Management Inc Raises Position in Verizon Communications Inc. (NYSE:VZ)

World Asset Management Inc raised its stake in Verizon Communications Inc. (NYSE:VZ) by 1.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 296,708 shares of the cell phone carrier’s stock after purchasing an additional 4,262 shares during the quarter. Verizon Communications accounts for about 0.8% of World Asset Management Inc’s portfolio, making the stock its 17th biggest position. World Asset Management Inc’s holdings in Verizon Communications were worth $16,951,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of VZ. Windsor Group LTD increased its stake in shares of Verizon Communications by 4.7% in the fourth quarter. Windsor Group LTD now owns 18,482 shares of the cell phone carrier’s stock worth $1,039,000 after buying an additional 822 shares during the last quarter. TrimTabs Asset Management LLC bought a new stake in shares of Verizon Communications in the fourth quarter worth $1,170,000. Daiwa SB Investments Ltd. increased its stake 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 worth $49,000 after buying an additional 480 shares during the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO increased its stake in shares of Verizon Communications by 90.1% in the fourth quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 140,504 shares of the cell phone carrier’s stock worth $7,899,000 after buying an additional 66,606 shares during the last quarter. Finally, Personal Capital Advisors Corp increased its stake in shares of Verizon Communications by 2.8% in the fourth quarter. Personal Capital Advisors Corp now owns 839,094 shares of the cell phone carrier’s stock worth $47,174,000 after buying an additional 23,097 shares during the last quarter. 65.59% of the stock is owned by hedge funds and other institutional investors.

In other news, EVP Craig L. Silliman sold 1,349 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $59.20, for a total transaction of $79,860.80. Following the completion of the transaction, the executive vice president now owns 26,728 shares of the company’s stock, valued at $1,582,297.60. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last three months, insiders have sold 4,047 shares of company stock valued at $234,591. Corporate insiders own 0.03% of the company’s stock.

A number of analysts recently issued reports on VZ shares. Citigroup lowered shares of Verizon Communications from a “buy” rating to a “neutral” rating and set a $62.00 price target for the company. in a research note on Monday, July 8th. Zacks Investment Research lowered shares of Verizon Communications from a “buy” rating to a “hold” rating in a research note on Thursday, May 16th. UBS Group lowered shares of Verizon Communications from a “buy” rating to a “neutral” rating and set a $57.70 target price for the company. in a research note on Thursday, May 30th. They noted that the move was a valuation call. Bank of America set a $64.00 target price on shares of Verizon Communications and gave the company a “buy” rating in a research note on Tuesday, April 23rd. Finally, Goldman Sachs Group reiterated a “buy” rating and set a $65.00 target price on shares of Verizon Communications in a research note on Tuesday, April 23rd. Ten analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Verizon Communications presently has a consensus rating of “Hold” and an average target price of $59.87.

VZ stock traded down $0.13 during trading on Friday, hitting $55.13. 1,001,480 shares of the company’s stock traded hands, compared to its average volume of 10,606,660. 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 52 week low of $51.43 and a 52 week high of $61.58. The firm’s fifty day moving average price is $57.23. The stock has a market cap of $234.21 billion, a PE ratio of 11.74, a price-to-earnings-growth ratio of 2.80 and a beta of 0.51.

Verizon Communications (NYSE:VZ) last released its earnings results on Thursday, August 1st. The cell phone carrier reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.03. Verizon Communications had a net margin of 12.20% and a return on equity of 35.40%. The firm had revenue of $32.07 billion during the quarter, compared to analyst estimates of $32.42 billion. During the same quarter in the previous year, the firm earned $1.20 earnings per share. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. As a group, equities analysts forecast that Verizon Communications Inc. will post 4.75 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were paid a dividend of $0.6025 per share. The ex-dividend date was Tuesday, July 9th. This represents a $2.41 annualized dividend and a yield of 4.37%. Verizon Communications’s payout ratio is 51.17%.

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

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