The Natixis Asset Management Has $1,810,000 Position in Verizon Communications Inc. (VZ), Report finds

The Natixis Asset Management Has $1,810,000 Position in Verizon Communications Inc. (VZ), Report finds

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bollard Group LLC increased its stake in shares of Verizon Communications by 1.0% in the second quarter. Bollard Group LLC now owns 383,096 shares of the cell phone carrier’s stock worth $21,392,000 after buying an additional 3,628 shares in the last quarter. Rockland Trust Co. increased its stake in shares of Verizon Communications by 0.7% in the second quarter. Rockland Trust Co. now owns 310,688 shares of the cell phone carrier’s stock worth $17,349,000 after buying an additional 2,252 shares in the last quarter. Capital Investment Advisors LLC increased its stake in shares of Verizon Communications by 1.1% in the second quarter. Capital Investment Advisors LLC now owns 156,722 shares of the cell phone carrier’s stock worth $8,751,000 after buying an additional 1,643 shares in the last quarter. Capital City Trust Co. FL increased its stake in shares of Verizon Communications by 2.8% in the second quarter. Capital City Trust Co. FL now owns 68,042 shares of the cell phone carrier’s stock worth $3,799,000 after buying an additional 1,864 shares in the last quarter. Finally, First American Bank increased its stake in shares of Verizon Communications by 11.2% in the second quarter. First American Bank now owns 112,385 shares of the cell phone carrier’s stock worth $6,276,000 after buying an additional 11,320 shares in the last quarter. Institutional investors own 63.56% of the company’s stock.

Natixis Asset Management boosted its position in shares of Verizon Communications Inc. (NYSE:VZ) by 13.6% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 34,819 shares of the cell phone carrier’s stock after buying an additional 4,164 shares during the period. Natixis Asset Management’s holdings in Verizon Communications were worth $1,810,000 at the end of the most recent quarter.

Verizon Communications Inc. (NYSE:VZ) traded up 0.91% during midday trading on Thursday, reaching $48.81. 13,577,346 shares of the company’s stock traded hands. The firm’s 50-day moving average is $51.50 and its 200-day moving average is $51.25. The company has a market capitalization of $199.00 billion, a price-to-earnings ratio of 15.21 and a beta of 0.43. Verizon Communications Inc. has a 1-year low of $46.01 and a 1-year high of $56.95.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Tuesday, January 24th. The cell phone carrier reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by $0.03. Verizon Communications had a net margin of 10.42% and a return on equity of 72.75%. The business had revenue of $32.30 billion for the quarter, compared to analysts’ expectations of $32.12 billion. During the same quarter in the previous year, the company earned $0.89 earnings per share. The business’s quarterly revenue was down 5.6% on a year-over-year basis. Analysts forecast that Verizon Communications Inc. will post $3.86 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 1st. Shareholders of record on Tuesday, January 10th were given a dividend of $0.5775 per share. This represents a $2.31 annualized dividend and a yield of 4.73%. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend was Friday, January 6th. Verizon Communications’s dividend payout ratio is presently 71.74%.

VZ has been the topic of a number of research reports. Vetr upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $52.98 price target on the stock in a report on Tuesday, January 24th. Evercore ISI initiated coverage on shares of Verizon Communications in a report on Monday, January 30th. They issued a “hold” rating and a $53.00 price target on the stock. Drexel Hamilton upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a report on Monday, October 24th. Pacific Crest reiterated an “equal weight” rating on shares of Verizon Communications in a report on Sunday, October 23rd. Finally, Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and issued a $51.00 price target on shares of Verizon Communications in a report on Sunday, October 23rd. One equities research analyst has rated the stock with a sell rating, twenty-five have given a hold rating and seven have given a buy rating to the stock. Verizon Communications has a consensus rating of “Hold” and a consensus target price of $53.78.

In other news, EVP Craig L. Silliman sold 668 shares of the stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $49.29, for a total transaction of $32,925.72. Following the completion of the sale, the executive vice president now directly owns 6,047 shares in the company, valued at $298,056.63. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.10% of the company’s stock.

About Verizon Communications

Verizon Communications Inc (Verizon) is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. The Company offers voice, data and video services and solutions on its wireless and wireline networks.

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