Lincluden Management Ltd. Sells 126,134 Shares of Verizon Communications Inc. (VZ)

Share on StockTwits

Lincluden Management Ltd. cut its stake in Verizon Communications Inc. (NYSE:VZ) by 35.6% in the 4th quarter, HoldingsChannel reports. The firm owned 228,304 shares of the cell phone carrier’s stock after selling 126,134 shares during the quarter. Verizon Communications makes up about 1.0% of Lincluden Management Ltd.’s portfolio, making the stock its 17th largest position. Lincluden Management Ltd.’s holdings in Verizon Communications were worth $12,835,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Verizon Communications by 1.3% during the third quarter. Vanguard Group Inc. now owns 303,821,942 shares of the cell phone carrier’s stock worth $16,221,053,000 after buying an additional 3,957,224 shares in the last quarter. Vanguard Group Inc grew its position in Verizon Communications by 1.3% during the third quarter. Vanguard Group Inc now owns 303,821,942 shares of the cell phone carrier’s stock worth $16,221,053,000 after buying an additional 3,957,224 shares in the last quarter. BlackRock Inc. grew its position in Verizon Communications by 2.3% during the third quarter. BlackRock Inc. now owns 276,264,842 shares of the cell phone carrier’s stock worth $14,749,779,000 after buying an additional 6,117,952 shares in the last quarter. Capital World Investors grew its position in Verizon Communications by 9.9% during the third quarter. Capital World Investors now owns 71,733,981 shares of the cell phone carrier’s stock worth $3,829,877,000 after buying an additional 6,485,041 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in Verizon Communications by 12,167,820.7% during the third quarter. Bank of New York Mellon Corp now owns 55,242,360 shares of the cell phone carrier’s stock worth $2,949,390,000 after buying an additional 55,241,906 shares in the last quarter. Institutional investors own 67.12% of the company’s stock.

In other news, Director Lowell C. Mcadam sold 285,988 shares of the company’s stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $56.72, for a total value of $16,221,239.36. Following the completion of the transaction, the director now directly owns 362,932 shares in the company, valued at approximately $20,585,503.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Anthony T. Skiadas sold 6,134 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $57.11, for a total value of $350,312.74. Following the completion of the transaction, the senior vice president now owns 20,000 shares of the company’s stock, valued at $1,142,200. The disclosure for this sale can be found here. Insiders sold a total of 296,169 shares of company stock valued at $16,805,577 over the last quarter. Company insiders own 0.03% of the company’s stock.

VZ opened at $59.25 on Thursday. Verizon Communications Inc. has a 12-month low of $47.13 and a 12-month high of $61.58. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.87 and a quick ratio of 0.83. The stock has a market capitalization of $243.59 billion, a PE ratio of 12.58, a PEG ratio of 3.03 and a beta of 0.48.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Tuesday, April 23rd. The cell phone carrier reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.03. Verizon Communications had a return on equity of 35.40% and a net margin of 12.20%. The firm had revenue of $32.13 billion during the quarter, compared to analysts’ expectations of $32.13 billion. During the same period in the prior year, the business earned $1.17 EPS. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. As a group, equities research analysts expect that Verizon Communications Inc. will post 4.75 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th were issued a $0.6025 dividend. This represents a $2.41 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date of this dividend was Tuesday, April 9th. Verizon Communications’s payout ratio is currently 51.17%.

Several equities analysts recently commented on the company. Zacks Investment Research cut Verizon Communications from a “buy” rating to a “hold” rating in a research report on Thursday, May 16th. Goldman Sachs Group restated a “buy” rating and set a $65.00 target price on shares of Verizon Communications in a research report on Tuesday, April 23rd. ValuEngine cut Verizon Communications from a “buy” rating to a “hold” rating in a research report on Tuesday, January 29th. Bank of America set a $64.00 target price on Verizon Communications and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Finally, Royal Bank of Canada restated a “neutral” rating and set a $57.00 target price on shares of Verizon Communications in a research report on Tuesday, April 23rd. Ten investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $57.76.

ILLEGAL ACTIVITY NOTICE: “Lincluden Management Ltd. Sells 126,134 Shares of Verizon Communications Inc. (VZ)” was originally published by Ticker Report and is the sole property of of Ticker Report. If you are reading this news story on another publication, it was stolen and reposted in violation of international trademark and copyright legislation. The correct version of this news story can be read at https://www.tickerreport.com/banking-finance/4350127/lincluden-management-ltd-sells-126134-shares-of-verizon-communications-inc-vz.html.

Verizon Communications Profile

Verizon Communications Inc, through its subsidiaries, offers communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company's Wireless segment provides wireless voice and data services; Internet access on various notebook computers and tablets; international travel wireless services; and network access services to deliver various Internet of Things products and services, as well as offers digital advertising and digital media services platforms.

Featured Story: What is the float in trading stocks?

Want to see what other hedge funds are holding VZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Verizon Communications Inc. (NYSE:VZ).

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

Receive News & Ratings for Verizon Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verizon Communications and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Brokerages Set FedEx Co.  Price Target at $200.77
Brokerages Set FedEx Co. Price Target at $200.77
SYNNEX  Issues Q3 Earnings Guidance
SYNNEX Issues Q3 Earnings Guidance
Paychex  Updates FY 2020 Earnings Guidance
Paychex Updates FY 2020 Earnings Guidance
IHS Markit  Updates FY19 Earnings Guidance
IHS Markit Updates FY19 Earnings Guidance
LyondellBasell Industries  Updates Q2 Earnings Guidance
LyondellBasell Industries Updates Q2 Earnings Guidance
Starbucks  Coverage Initiated by Analysts at Citigroup
Starbucks Coverage Initiated by Analysts at Citigroup


© 2006-2019 Ticker Report