Neuberger Berman Group LLC Increases Stock Holdings in Verizon Communications Inc. (NYSE:VZ)

Neuberger Berman Group LLC lifted its position in Verizon Communications Inc. (NYSE:VZGet Rating) by 86.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,594,251 shares of the cell phone carrier’s stock after buying an additional 739,110 shares during the quarter. Neuberger Berman Group LLC’s holdings in Verizon Communications were worth $81,252,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Brick & Kyle Associates raised its stake in Verizon Communications by 1.6% in the first quarter. Brick & Kyle Associates now owns 63,141 shares of the cell phone carrier’s stock valued at $3,216,000 after purchasing an additional 979 shares in the last quarter. Sawtooth Solutions LLC raised its stake in Verizon Communications by 12.0% in the first quarter. Sawtooth Solutions LLC now owns 31,722 shares of the cell phone carrier’s stock valued at $1,616,000 after purchasing an additional 3,388 shares in the last quarter. Greylin Investment Mangement Inc. raised its stake in Verizon Communications by 111.9% in the first quarter. Greylin Investment Mangement Inc. now owns 13,653 shares of the cell phone carrier’s stock valued at $695,000 after purchasing an additional 7,210 shares in the last quarter. Resources Management Corp CT ADV raised its stake in Verizon Communications by 6.6% in the first quarter. Resources Management Corp CT ADV now owns 61,923 shares of the cell phone carrier’s stock valued at $3,154,000 after purchasing an additional 3,832 shares in the last quarter. Finally, Stack Financial Management Inc raised its stake in Verizon Communications by 4.7% in the first quarter. Stack Financial Management Inc now owns 310,905 shares of the cell phone carrier’s stock valued at $15,838,000 after purchasing an additional 14,054 shares in the last quarter. 62.83% of the stock is owned by hedge funds and other institutional investors.

Verizon Communications Stock Performance

Shares of Verizon Communications stock opened at $41.25 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.69 and a debt-to-equity ratio of 1.56. The firm has a market capitalization of $173.24 billion, a P/E ratio of 8.27, a P/E/G ratio of 1.90 and a beta of 0.36. The business has a fifty day simple moving average of $44.82 and a two-hundred day simple moving average of $48.90. Verizon Communications Inc. has a 12 month low of $40.66 and a 12 month high of $55.51.

Verizon Communications (NYSE:VZGet Rating) last announced its quarterly earnings data on Friday, July 22nd. The cell phone carrier reported $1.31 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.01). The firm had revenue of $33.79 billion for the quarter, compared to analysts’ expectations of $33.77 billion. Verizon Communications had a net margin of 15.48% and a return on equity of 26.95%. The business’s quarterly revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.37 EPS. On average, equities analysts forecast that Verizon Communications Inc. will post 5.19 earnings per share for the current fiscal year.

Verizon Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, October 7th will be given a dividend of $0.6525 per share. The ex-dividend date of this dividend is Thursday, October 6th. This represents a $2.61 annualized dividend and a yield of 6.33%. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.64. Verizon Communications’s dividend payout ratio (DPR) is currently 51.30%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on VZ shares. Raymond James reaffirmed an “outperform” rating and issued a $64.00 target price on shares of Verizon Communications in a research note on Thursday, July 7th. Wells Fargo & Company reduced their price target on shares of Verizon Communications from $58.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Friday, July 8th. StockNews.com upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating in a research report on Wednesday. Morgan Stanley reduced their price target on shares of Verizon Communications from $60.00 to $58.00 and set an “equal weight” rating on the stock in a research report on Monday, July 25th. Finally, Moffett Nathanson cut shares of Verizon Communications from a “market perform” rating to an “underperform” rating and set a $41.00 price target on the stock. in a research report on Thursday, August 18th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $55.68.

Insider Buying and Selling at Verizon Communications

In other news, EVP Craig L. Silliman sold 1,558 shares of Verizon Communications stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $51.42, for a total value of $80,112.36. Following the completion of the transaction, the executive vice president now owns 33,403 shares of the company’s stock, valued at approximately $1,717,582.26. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.10% of the company’s stock.

Verizon Communications Profile

(Get Rating)

Verizon Communications Inc, through its subsidiaries, offers communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. Its Consumer segment provides postpaid and prepaid service plans; internet access on notebook computers and tablets; wireless equipment, including smartphones and other handsets; and wireless-enabled internet devices, such as tablets, and other wireless-enabled connected devices comprising smart watches.

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

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