Flossbach Von Storch SE Has $18.19 Million Stake in Verizon Communications Inc. (NYSE:VZ)

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

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in VZ. Vanguard Group Inc. grew its position in Verizon Communications by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 363,824,525 shares of the cell phone carrier's stock valued at $14,549,343,000 after acquiring an additional 5,697,337 shares in the last quarter. Geode Capital Management LLC grew its holdings 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 purchasing an additional 998,847 shares in the last quarter. Norges Bank purchased a new stake in Verizon Communications during the 4th quarter worth approximately $2,300,846,000. Northern Trust Corp lifted its holdings in Verizon Communications by 12.4% during the 4th quarter. Northern Trust Corp now owns 45,043,310 shares of the cell phone carrier's stock worth $1,801,282,000 after buying 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 position in Verizon Communications by 13.3% in 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 valued at $1,555,351,000 after buying an additional 4,568,518 shares during the period. Hedge funds and other institutional investors own 62.06% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on VZ shares. Oppenheimer boosted their price objective on Verizon Communications from $48.00 to $50.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 1st. Wall Street Zen lowered Verizon Communications from a "strong-buy" rating to a "buy" rating in a report on Thursday, March 13th. Wolfe Research cut Verizon Communications from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, March 12th. Bank of America initiated coverage on Verizon Communications in a research report on Monday. They set a "neutral" rating and a $45.00 target price on the stock. Finally, Morgan Stanley assumed coverage on Verizon Communications in a research note on Thursday. They set an "equal weight" rating and a $47.00 target price for the company. Eleven research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Verizon Communications currently has a consensus rating of "Moderate Buy" and an average target price of $47.00.

Verizon Communications Stock Down 1.4%

NYSE:VZ traded down $0.61 on Thursday, hitting $42.00. 19,329,523 shares of the company's stock traded hands, compared to its average volume of 20,178,878. 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 company has a market cap of $177.07 billion, a PE ratio of 10.00, a price-to-earnings-growth ratio of 3.42 and a beta of 0.37. The firm has a 50-day moving average price of $43.18 and a 200-day moving average price of $42.35. Verizon Communications Inc. has a 1 year low of $37.59 and a 1 year high of $47.36.

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

Verizon Communications Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Thursday, July 10th. This represents a $2.71 annualized dividend and a dividend yield of 6.45%. Verizon Communications's dividend payout ratio is 64.52%.

Insider Transactions at Verizon Communications

In related news, CEO Kyle Malady sold 9,000 shares of the company's stock in a transaction on 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 transaction, the chief executive officer directly owned 10,008 shares in the company, valued at approximately $441,352.80. This represents a 47.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last quarter, insiders have sold 21,500 shares of company stock valued at $938,400. Company insiders own 0.10% 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).