BI Asset Management Fondsmaeglerselskab A S Raises Stock Position in Verizon Communications Inc. (NYSE:VZ)

BI Asset Management Fondsmaeglerselskab A S lifted its holdings in Verizon Communications Inc. (NYSE:VZ) by 11.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,787,291 shares of the cell phone carrier’s stock after acquiring an additional 180,546 shares during the period. Verizon Communications accounts for about 0.8% of BI Asset Management Fondsmaeglerselskab A S’s portfolio, making the stock its 26th biggest holding. BI Asset Management Fondsmaeglerselskab A S’s holdings in Verizon Communications were worth $71,474,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. BOS Asset Management LLC raised its holdings in shares of Verizon Communications by 80.5% during the 4th quarter. BOS Asset Management LLC now owns 18,585 shares of the cell phone carrier’s stock worth $743,000 after acquiring an additional 8,288 shares in the last quarter. Capital International Inc. CA raised its stake in Verizon Communications by 128.8% during the fourth quarter. Capital International Inc. CA now owns 158,156 shares of the cell phone carrier’s stock valued at $6,325,000 after purchasing an additional 89,045 shares in the last quarter. Capital Research Global Investors grew its stake in shares of Verizon Communications by 52.7% in the 4th quarter. Capital Research Global Investors now owns 19,828,378 shares of the cell phone carrier’s stock worth $792,937,000 after buying an additional 6,846,514 shares in the last quarter. Curi RMB Capital LLC increased its holdings in shares of Verizon Communications by 22.4% in the 4th quarter. Curi RMB Capital LLC now owns 327,136 shares of the cell phone carrier’s stock worth $13,082,000 after buying an additional 59,889 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Verizon Communications by 2.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 36,851,192 shares of the cell phone carrier’s stock valued at $1,473,557,000 after acquiring an additional 990,775 shares during the last quarter. Institutional investors own 62.06% of the company’s stock.

Verizon Communications Stock Up 0.9 %

NYSE:VZ opened at $44.01 on Friday. The firm has a market capitalization of $185.26 billion, a P/E ratio of 10.63, a PEG ratio of 4.45 and a beta of 0.41. The company’s fifty day moving average price is $43.46 and its 200-day moving average price is $42.03. Verizon Communications Inc. has a 1-year low of $37.59 and a 1-year high of $47.36. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.63 and a quick ratio of 0.59.

Verizon Communications (NYSE:VZ) last issued its earnings results on Friday, January 24th. The cell phone carrier reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.01). Verizon Communications had a return on equity of 19.80% and a net margin of 12.99%. During the same period in the previous year, the company posted $1.08 earnings per share. As a group, equities research analysts anticipate that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be given a dividend of $0.6775 per share. The ex-dividend date is Thursday, April 10th. This represents a $2.71 annualized dividend and a yield of 6.16%. Verizon Communications’s dividend payout ratio is presently 65.46%.

Analyst Upgrades and Downgrades

VZ has been the topic of several recent research reports. Evercore ISI upgraded Verizon Communications from an “in-line” rating to an “outperform” rating and set a $48.00 price target on the stock in a report on Friday, April 11th. TD Cowen raised shares of Verizon Communications to a “strong-buy” rating in a research note on Wednesday, January 15th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Verizon Communications from $40.00 to $42.00 and gave the stock a “hold” rating in a research report on Friday, January 24th. Argus raised Verizon Communications to a “strong-buy” rating in a research note on Monday, January 27th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $45.00 price objective (up previously from $42.00) on shares of Verizon Communications in a report on Tuesday, March 25th. Ten research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $46.92.

Insiders Place Their Bets

In other news, EVP Vandana Venkatesh sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $43.79, for a total value of $437,900.00. Following the transaction, the executive vice president now owns 14,459 shares in the company, valued at $633,159.61. This trade represents a 40.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Kyle Malady sold 11,085 shares of the business’s stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $40.88, for a total value of $453,154.80. Following the sale, the chief executive officer now owns 14,590 shares of the company’s stock, valued at $596,439.20. The trade was a 43.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 49,085 shares of company stock worth $2,020,895. Company insiders own 0.02% of the company’s stock.

Verizon Communications Company Profile

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).