Verizon Communications Inc. (NYSE:VZ) Position Increased by Flossbach Von Storch SE

Flossbach Von Storch SE raised its holdings in Verizon Communications Inc. (NYSE:VZ - Free Report) by 29.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 400,898 shares of the cell phone carrier's stock after purchasing an additional 90,193 shares during the period. Flossbach Von Storch SE's holdings in Verizon Communications were worth $18,185,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Verizon Communications by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 363,824,525 shares of the cell phone carrier's stock worth $14,549,343,000 after purchasing an additional 5,697,337 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Verizon Communications by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 96,823,092 shares of the cell phone carrier's stock valued at $3,862,441,000 after acquiring an additional 998,847 shares in the last quarter. Norges Bank purchased a new position in Verizon Communications in the 4th quarter valued at about $2,300,846,000. Northern Trust Corp lifted its holdings in Verizon Communications by 12.4% in the 4th quarter. Northern Trust Corp now owns 45,043,310 shares of the cell phone carrier's stock valued at $1,801,282,000 after purchasing an additional 4,951,733 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Verizon Communications by 13.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 38,893,487 shares of the cell phone carrier's stock worth $1,555,351,000 after purchasing an additional 4,568,518 shares during the last quarter. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Verizon Communications Trading Down 1.0%

NYSE:VZ traded down $0.41 on Wednesday, hitting $42.65. 23,445,789 shares of the stock were exchanged, compared to its average volume of 20,157,953. Verizon Communications Inc. has a fifty-two week low of $37.59 and a fifty-two week high of $47.36. The stock has a fifty day moving average of $43.24 and a 200-day moving average of $42.33. The company has a current ratio of 0.61, a quick ratio of 0.58 and a debt-to-equity ratio of 1.19. The stock has a market cap of $179.82 billion, a PE ratio of 10.15, a PEG ratio of 3.04 and a beta of 0.37.

Verizon Communications (NYSE:VZ - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The cell phone carrier reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.04. Verizon Communications had a return on equity of 19.66% and a net margin of 13.14%. The company had revenue of $33.50 billion during the quarter, compared to the consensus estimate of $33.31 billion. As a group, equities analysts expect that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 10th will be given a $0.6775 dividend. This represents a $2.71 annualized dividend and a dividend yield of 6.35%. The ex-dividend date is Thursday, July 10th. Verizon Communications's payout ratio is 64.52%.

Insider Buying and Selling at Verizon Communications

In other news, CEO Kyle Malady sold 9,000 shares of the company's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $44.10, for a total value of $396,900.00. Following the completion of the sale, the chief executive officer owned 10,008 shares of the company's stock, valued at $441,352.80. This represents a 47.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 21,500 shares of company stock valued at $938,400 over the last ninety days. 0.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on VZ. Scotiabank upped their price objective on shares of Verizon Communications from $48.50 to $49.00 and gave the company a "sector perform" rating in a research note on Wednesday, April 23rd. 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. Evercore ISI raised Verizon Communications from an "in-line" rating to an "outperform" rating and set a $48.00 price objective for the company in a research report on Friday, April 11th. Oppenheimer increased their target price on Verizon Communications from $48.00 to $50.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 1st. Finally, Wolfe Research downgraded shares of Verizon Communications from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, March 12th. Nine research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Verizon Communications presently has an average rating of "Moderate Buy" and a consensus target price of $47.25.

Verizon Communications 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).