Compagnie Lombard Odier SCmA Sells 75,282 Shares of Verizon Communications Inc. (NYSE:VZ)

by · The Cerbat Gem

Compagnie Lombard Odier SCmA decreased its holdings in shares of Verizon Communications Inc. (NYSE:VZ – Free Report) by 9.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 734,914 shares of the cell phone carrier’s stock after selling 75,282 shares during the quarter. Compagnie Lombard Odier SCmA’s holdings in Verizon Communications were worth $33,005,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of VZ. Swedbank AB bought a new position in shares of Verizon Communications during the first quarter valued at approximately $250,312,000. DekaBank Deutsche Girozentrale grew its stake in shares of Verizon Communications by 112.6% during the first quarter. DekaBank Deutsche Girozentrale now owns 6,574,910 shares of the cell phone carrier’s stock valued at $273,507,000 after buying an additional 3,481,936 shares during the last quarter. Bank of Montreal Can grew its stake in shares of Verizon Communications by 18.6% during the second quarter. Bank of Montreal Can now owns 13,016,271 shares of the cell phone carrier’s stock valued at $536,791,000 after buying an additional 2,040,247 shares during the last quarter. Capital Wealth Planning LLC grew its stake in shares of Verizon Communications by 37.9% during the second quarter. Capital Wealth Planning LLC now owns 6,973,838 shares of the cell phone carrier’s stock valued at $287,601,000 after buying an additional 1,916,951 shares during the last quarter. Finally, Marshall Wace LLP grew its stake in shares of Verizon Communications by 153.8% during the second quarter. Marshall Wace LLP now owns 2,806,221 shares of the cell phone carrier’s stock valued at $115,729,000 after buying an additional 1,700,619 shares during the last quarter. Institutional investors own 62.06% of the company’s stock.

Verizon Communications Stock Up 0.1 %

Shares of VZ stock traded up $0.05 during trading hours on Friday, reaching $43.00. 10,658,662 shares of the company’s stock were exchanged, compared to its average volume of 18,587,283. The stock’s 50 day moving average is $42.59 and its 200-day moving average is $41.23. The company has a market cap of $181.00 billion, a price-to-earnings ratio of 16.04, a P/E/G ratio of 4.02 and a beta of 0.42. The company has a current ratio of 0.63, a quick ratio of 0.60 and a debt-to-equity ratio of 1.29. Verizon Communications Inc. has a fifty-two week low of $30.62 and a fifty-two week high of $45.36.

Verizon Communications (NYSE:VZ – Get Free Report) last issued its quarterly earnings results on Monday, July 22nd. The cell phone carrier reported $1.15 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.15. The business had revenue of $32.80 billion for the quarter, compared to the consensus estimate of $33.05 billion. Verizon Communications had a return on equity of 20.10% and a net margin of 8.38%. The business’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.21 earnings per share. Analysts predict that Verizon Communications Inc. will post 4.58 earnings per share for the current fiscal year.

Verizon Communications Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be given a dividend of $0.678 per share. The ex-dividend date is Thursday, October 10th. This is an increase from Verizon Communications’s previous quarterly dividend of $0.67. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.31%. Verizon Communications’s dividend payout ratio is presently 101.12%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Raymond James boosted their price target on Verizon Communications from $44.00 to $48.00 and gave the company an “outperform” rating in a report on Tuesday, September 24th. Scotiabank boosted their price target on Verizon Communications from $45.50 to $46.50 and gave the company a “sector perform” rating in a report on Wednesday, July 10th. The Goldman Sachs Group assumed coverage on Verizon Communications in a report on Monday, July 1st. They issued a “buy” rating and a $50.00 price target for the company. Tigress Financial boosted their price target on Verizon Communications from $52.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Finally, Citigroup boosted their price target on Verizon Communications from $47.00 to $49.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.26.

Check Out Our Latest Analysis on VZ

Verizon Communications 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).

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