TrimTabs Asset Management LLC Acquires New Holdings in Verizon Communications Inc. (NYSE:VZ)

TrimTabs Asset Management LLC acquired a new stake in shares of Verizon Communications Inc. (NYSE:VZ) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 27,717 shares of the cell phone carrier’s stock, valued at approximately $1,612,000.

A number of other institutional investors also recently made changes to their positions in the business. Norges Bank bought a new stake in shares of Verizon Communications in the 4th quarter worth approximately $2,373,000,000. Morgan Stanley lifted its holdings in shares of Verizon Communications by 7.9% in the 4th quarter. Morgan Stanley now owns 39,149,043 shares of the cell phone carrier’s stock worth $2,300,008,000 after acquiring an additional 2,855,873 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Verizon Communications by 6.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 38,318,476 shares of the cell phone carrier’s stock worth $2,251,212,000 after acquiring an additional 2,262,857 shares during the last quarter. FMR LLC lifted its holdings in shares of Verizon Communications by 25.4% in the 4th quarter. FMR LLC now owns 34,745,450 shares of the cell phone carrier’s stock worth $2,041,296,000 after acquiring an additional 7,032,460 shares during the last quarter. Finally, California Public Employees Retirement System lifted its holdings in shares of Verizon Communications by 4.1% in the 4th quarter. California Public Employees Retirement System now owns 25,869,512 shares of the cell phone carrier’s stock worth $1,519,834,000 after acquiring an additional 1,029,507 shares during the last quarter. Institutional investors and hedge funds own 64.85% of the company’s stock.

Shares of NYSE:VZ traded down $1.32 during trading on Thursday, hitting $57.68. The company’s stock had a trading volume of 309,622 shares, compared to its average volume of 20,359,465. The company has a 50-day moving average of $56.65 and a 200-day moving average of $58.04. Verizon Communications Inc. has a 12 month low of $52.85 and a 12 month high of $61.95. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.96 and a quick ratio of 0.93. The firm has a market cap of $238.80 billion, a price-to-earnings ratio of 12.80, a P/E/G ratio of 3.54 and a beta of 0.44.

Verizon Communications (NYSE:VZ) last released its earnings results on Monday, January 25th. The cell phone carrier reported $1.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.17 by $0.04. The company had revenue of $34.70 billion during the quarter, compared to analyst estimates of $34.47 billion. Verizon Communications had a net margin of 14.76% and a return on equity of 32.15%. The firm’s quarterly revenue was down .2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.13 EPS. As a group, research analysts anticipate that Verizon Communications Inc. will post 4.77 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, May 3rd. Investors of record on Friday, April 9th will be issued a $0.6275 dividend. This represents a $2.51 annualized dividend and a yield of 4.35%. The ex-dividend date is Thursday, April 8th. Verizon Communications’s dividend payout ratio is 52.18%.

VZ has been the subject of a number of recent research reports. Bank of America restated a “buy” rating and issued a $64.00 price objective on shares of Verizon Communications in a report on Thursday, March 11th. Tigress Financial raised shares of Verizon Communications from a “neutral” rating to a “buy” rating in a research note on Tuesday, March 30th. Oppenheimer reaffirmed a “market perform” rating on shares of Verizon Communications in a research note on Wednesday, March 3rd. Credit Suisse Group decreased their target price on shares of Verizon Communications from $61.00 to $59.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 19th. Finally, Scotiabank downgraded shares of Verizon Communications from an “outperform” rating to a “sector perform” rating in a research report on Thursday, February 25th. Eleven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $62.06.

In other Verizon Communications news, EVP Craig L. Silliman sold 1,555 shares of the stock in a transaction that occurred on Monday, April 5th. The shares were sold at an average price of $58.53, for a total transaction of $91,014.15. Following the completion of the sale, the executive vice president now directly owns 36,242 shares of the company’s stock, valued at approximately $2,121,244.26. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.07% of the company’s stock.

Verizon Communications Profile

Verizon Communications Inc 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, such as smart watches.

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

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