Lombard Odier Asset Management Europe Ltd Purchases 11,352 Shares of Verizon Communications Inc. (NYSE:VZ)

Lombard Odier Asset Management Europe Ltd grew its position in Verizon Communications Inc. (NYSE:VZGet Rating) by 12.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 103,968 shares of the cell phone carrier’s stock after acquiring an additional 11,352 shares during the quarter. Lombard Odier Asset Management Europe Ltd’s holdings in Verizon Communications were worth $5,296,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of VZ. Virginia Retirement Systems ET AL lifted its stake in shares of Verizon Communications by 0.5% in the 1st quarter. Virginia Retirement Systems ET AL now owns 1,996,800 shares of the cell phone carrier’s stock valued at $101,717,000 after purchasing an additional 9,200 shares during the last quarter. NorthCrest Asset Manangement LLC lifted its position in Verizon Communications by 860.0% in the first quarter. NorthCrest Asset Manangement LLC now owns 336,892 shares of the cell phone carrier’s stock worth $17,161,000 after buying an additional 301,800 shares during the last quarter. WC Walker & Associates Inc. boosted its stake in Verizon Communications by 2.7% during the first quarter. WC Walker & Associates Inc. now owns 41,306 shares of the cell phone carrier’s stock worth $2,236,000 after buying an additional 1,096 shares during the period. Wilson & Boucher Capital Management LLC increased its position in Verizon Communications by 1.2% during the first quarter. Wilson & Boucher Capital Management LLC now owns 17,693 shares of the cell phone carrier’s stock valued at $901,000 after acquiring an additional 202 shares during the last quarter. Finally, CRA Financial Services LLC raised its stake in shares of Verizon Communications by 9.1% in the first quarter. CRA Financial Services LLC now owns 16,518 shares of the cell phone carrier’s stock valued at $841,000 after acquiring an additional 1,375 shares during the period. 62.83% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Verizon Communications news, EVP Craig L. Silliman sold 1,558 shares of the company’s stock in a transaction that occurred on Tuesday, July 5th. The shares were sold at an average price of $51.42, for a total transaction of $80,112.36. Following the transaction, the executive vice president now owns 33,403 shares in the company, valued at approximately $1,717,582.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.10% of the company’s stock.

Verizon Communications Stock Performance

VZ stock opened at $42.24 on Friday. Verizon Communications Inc. has a one year low of $40.71 and a one year high of $55.51. The firm has a market cap of $177.40 billion, a price-to-earnings ratio of 8.46, a PEG ratio of 2.01 and a beta of 0.36. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.69 and a current ratio of 0.76. The firm has a 50-day simple moving average of $45.78 and a two-hundred day simple moving average of $49.29.

Verizon Communications (NYSE:VZGet Rating) last posted 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 the consensus estimate of $33.77 billion. Verizon Communications had a return on equity of 26.95% and a net margin of 15.48%. The company’s revenue was up .1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.37 EPS. On average, equities analysts forecast that Verizon Communications Inc. will post 5.2 EPS for the current fiscal year.

Verizon Communications Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Friday, October 7th will be paid a dividend of $0.6525 per share. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Thursday, October 6th. This represents a $2.61 dividend on an annualized basis and a dividend yield of 6.18%. Verizon Communications’s payout ratio is presently 51.30%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on VZ shares. Scotiabank cut shares of Verizon Communications from a “sector outperform” rating to a “sector perform” rating in a research note on Friday, July 22nd. Cowen cut their price objective on Verizon Communications from $71.00 to $64.00 and set an “outperform” rating on the stock in a research report on Monday, July 25th. UBS Group decreased their target price on Verizon Communications from $57.00 to $47.00 and set a “neutral” rating for the company in a research report on Monday, July 25th. Morgan Stanley cut 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 report on Monday, July 25th. Finally, Raymond James reaffirmed an “outperform” rating and issued a $64.00 price target on shares of Verizon Communications in a research note on Thursday, July 7th. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $55.68.

About Verizon Communications

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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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