Kiley Juergens Wealth Management LLC holds $1.82 million stake in Verizon Communications Inc. (NYSE:VZ)


Kiley Juergens Wealth Management LLC reduced its holdings of Verizon Communications Inc. stock (NYSE: VZGet a rating) by 3.8% during the first quarter, HoldingsChannel.com reports. The company held 35,717 shares of the mobile operator after selling 1,414 shares during the quarter. Verizon Communications represents about 0.7% of Kiley Juergens Wealth Management LLC’s holdings, making the stock its 27th largest holding. Kiley Juergens Wealth Management LLC’s holdings in Verizon Communications were worth $1,819,000 when it last filed with the SEC.

Several other large investors also changed their positions in VZ. Norges Bank acquired a new position in shares of Verizon Communications during the 4th quarter for a value of approximately $1,884,917,000. Fisher Asset Management LLC increased its position in Verizon Communications shares by 19,095.1% during the fourth quarter. Fisher Asset Management LLC now owns 9,778,922 shares of the mobile operator worth $508,113,000 after buying an additional 9,727,977 shares last quarter. Charles Schwab Investment Management Inc. increased its position in Verizon Communications shares by 8.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 56,847,194 shares of the mobile operator worth $2,953,781,000 after buying 4,571,857 additional shares in the last quarter. State Street Corp increased its position in Verizon Communications shares by 2.6% during the fourth quarter. State Street Corp now owns 170,483,451 shares of the mobile operator worth $8,858,320,000 after buying an additional 4,312,242 shares last quarter. Finally, Renaissance Technologies LLC increased its position in Verizon Communications shares by 244.7% during the 4th quarter. Renaissance Technologies LLC now owns 5,848,271 shares of the mobile operator worth $303,876,000 after buying an additional 4,151,749 shares last quarter. Hedge funds and other institutional investors hold 63.78% of the company’s shares.

Shares of NYSE: VZ opened at $50.79 on Thursday. The company has a 50-day simple moving average of $50.12 and a 200-day simple moving average of $51.82. The company has a market capitalization of $213.30 billion, a price-earnings ratio of 9.86, a PEG ratio of 2.52 and a beta of 0.41. Verizon Communications Inc. has a one-year minimum of $45.55 and a one-year maximum of $56.85. The company has a debt ratio of 1.64, a current ratio of 0.76 and a quick ratio of 0.69.

Verizon Communications (NYSE: VZGet a rating) last released its quarterly earnings data on Friday, April 22. The mobile operator reported earnings per share of $1.35 for the quarter, hitting the consensus estimate of $1.35. The company posted revenue of $33.60 billion for the quarter, versus $33.61 billion expected by analysts. Verizon Communications had a net margin of 15.93% and a return on equity of 28.15%. Verizon Communications revenue for the quarter increased 2.2% year-on-year. During the same quarter of the previous year, the firm had posted earnings per share of $1.31. As a group, analysts expect Verizon Communications Inc. to post EPS of 5.4 for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, August 1. Shareholders of record on Friday, July 8 will receive a dividend of $0.64. The ex-dividend date is Thursday, July 7. This represents an annualized dividend of $2.56 and a dividend yield of 5.04%. Verizon Communications’ payout ratio is 49.71%.

VZ has been the subject of a number of recent analyst reports. Goldman Sachs Group downgraded Verizon Communications shares from a “buy” rating to a “neutral” rating and cut its price target for the stock from $61.00 to $55.00 in a Monday report April 25. Credit Suisse Group cut its price target on Verizon Communications shares from $58.00 to $54.00 and set a “neutral” rating for the company in a report on Tuesday. Royal Bank of Canada cut its price target on Verizon Communications shares from $57.00 to $54.00 in a report released Wednesday. StockNews.com moved Verizon Communications shares from a “hold” rating to a “buy” rating in a Thursday, May 12, report. Finally, Wolfe Research cut its price target on Verizon Communications shares from $60.00 to $51.00 and set a “peer performance” rating for the company in a Thursday, June 2 report. Two analysts rated the stock with a sell rating, eleven gave the company a hold rating and four gave the company a buy rating. According to data from MarketBeat.com, Verizon Communications currently has an average rating of “Hold” and an average price target of $56.60.

In related news, CEO Tami A. Erwin sold 23,647 shares of Verizon Communications in a trade that took place on Tuesday, April 26. The stock was sold at an average price of $49.77, for a total value of $1,176,911.19. As a result of the transaction, the CEO now directly owns 21,817 shares of the company, valued at $1,085,832.09. The transaction was disclosed in a legal filing with the SEC, which is available via this hyperlink. Also, VPE Craig L. Silliman sold 1,558 shares of Verizon Communications in a trade that took place on Monday, May 23. The stock was sold at an average price of $50.00, for a total value of $77,900.00. Following completion of the transaction, the executive vice president now directly owns 36,519 shares of the company, valued at $1,825,950. Disclosure of this sale can be found here. Insiders sold 28,321 shares of the company valued at $1,415,192 in the past 90 days. 0.02% of the shares are held by insiders.

Verizon Communications Company Profile (Get a rating)

Verizon Communications Inc, through its subsidiaries, provides communications, technology, information and entertainment products and services to consumers, businesses and government entities worldwide. Its Consumer segment offers postpaid and prepaid service plans; Internet access on laptops and tablets; wireless equipment, including smartphones and other handsets; and wireless Internet devices, such as tablets, and other wirelessly connected devices including smart watches.

Further reading

Want to see which other hedge funds hold VZ? Visit HoldingsChannel.com for the latest 13F filings and insider trading for Verizon Communications Inc. (NYSE: VZGet a rating).

Institutional ownership by quarter for Verizon Communications (NYSE:VZ)



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