Oregon Public Employees Retirement Fund Reduces Stock Holdings in Verizon Communications Inc. (NYSE:VZ)


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Oregon Public Employees Retirement Fund trimmed its position in Verizon Communications Inc. (NYSE:VZ) by 2.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 325,057 shares of the cell phone carrier’s stock after selling 6,694 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Verizon Communications were worth $19,097,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of VZ. Harbor Investment Advisory LLC lifted its stake in shares of Verizon Communications by 5.6% during the 3rd quarter. Harbor Investment Advisory LLC now owns 40,251 shares of the cell phone carrier’s stock worth $2,395,000 after purchasing an additional 2,124 shares during the last quarter. Boyd Watterson Asset Management LLC OH lifted its stake in shares of Verizon Communications by 38.5% during the 3rd quarter. Boyd Watterson Asset Management LLC OH now owns 19,819 shares of the cell phone carrier’s stock worth $1,179,000 after purchasing an additional 5,511 shares during the last quarter. Bouchey Financial Group Ltd raised its stake in Verizon Communications by 20.8% in the third quarter. Bouchey Financial Group Ltd now owns 6,668 shares of the cell phone carrier’s stock valued at $397,000 after buying an additional 1,146 shares during the last quarter. Patriot Investment Management Inc. raised its stake in Verizon Communications by 3.6% in the third quarter. Patriot Investment Management Inc. now owns 33,776 shares of the cell phone carrier’s stock valued at $2,009,000 after buying an additional 1,189 shares during the last quarter. Finally, LFA Lugano Financial Advisors SA raised its stake in Verizon Communications by 759.5% in the third quarter. LFA Lugano Financial Advisors SA now owns 4,220 shares of the cell phone carrier’s stock valued at $250,000 after buying an additional 3,729 shares during the last quarter. Hedge funds and other institutional investors own 64.85% of the company’s stock.

VZ has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upgraded Verizon Communications from a “neutral” rating to an “overweight” rating and increased their price target for the company from $61.00 to $65.00 in a research note on Thursday, November 5th. Tigress Financial reiterated a “hold” rating on shares of Verizon Communications in a research note on Sunday, November 1st. Wells Fargo & Company assumed coverage on Verizon Communications in a research note on Monday, November 16th. They issued an “equal weight” rating and a $60.00 price target for the company. Credit Suisse Group cut their price objective on Verizon Communications from $61.00 to $59.00 and set a “neutral” rating on the stock in a report on Tuesday, January 19th. Finally, Moffett Nathanson raised Verizon Communications from a “neutral” rating to a “buy” rating and increased their price objective for the company from $59.00 to $66.00 in a report on Wednesday, December 2nd. Eleven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $61.84.

Verizon Communications stock traded down $0.05 during midday trading on Tuesday, hitting $56.40. 539,818 shares of the company were exchanged, compared to its average volume of 20,626,359. The firm has a market capitalization of $233.39 billion, a PE ratio of 12.25, a price-to-earnings-growth ratio of 3.54 and a beta of 0.44. Verizon Communications Inc. has a fifty-two week low of $48.84 and a fifty-two week high of $61.95. The business has a fifty day simple moving average of $56.33 and a two-hundred day simple moving average of $58.66. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.93 and a current ratio of 0.96.

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

The firm also recently declared a quarterly dividend, which was paid on Monday, February 1st. Shareholders of record on Friday, January 8th were given a dividend of $0.6275 per share. The ex-dividend date of this dividend was Thursday, January 7th. This represents a $2.51 dividend on an annualized basis and a yield of 4.45%. Verizon Communications’s dividend payout ratio is currently 52.18%.

About Verizon Communications

Verizon Communications Inc offers communications, 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, laptop computers and netbooks, and other wireless-enabled connected devices, such as smart watches and other wearables.

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

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