Stevens First Principles Investment Advisors boosted its position in Verizon Communications Inc. (NYSE:VZ) by 743.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,248 shares of the cell phone carrier’s stock after purchasing an additional 1,100 shares during the period. Stevens First Principles Investment Advisors’ holdings in Verizon Communications were worth $70,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently made changes to their positions in VZ. Vanguard Group Inc. grew its stake in Verizon Communications by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 303,821,942 shares of the cell phone carrier’s stock valued at $16,221,053,000 after acquiring an additional 3,957,224 shares in the last quarter. Vanguard Group Inc grew its holdings in shares of 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 valued at $16,221,053,000 after buying an additional 3,957,224 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Verizon Communications by 2.3% during the third quarter. BlackRock Inc. now owns 276,264,842 shares of the cell phone carrier’s stock valued at $14,749,779,000 after buying an additional 6,117,952 shares during the last quarter. Capital World Investors grew its holdings in shares of 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 valued at $3,829,877,000 after buying an additional 6,485,041 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of 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 valued at $2,949,390,000 after buying an additional 55,241,906 shares during the last quarter. 65.51% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have recently weighed in on VZ shares. Royal Bank of Canada reissued a “neutral” rating and set a $57.00 price objective on shares of Verizon Communications in a report on Tuesday, April 23rd. Bank of America set a $64.00 price objective on shares of Verizon Communications and gave the company a “buy” rating in a report on Tuesday, April 23rd. UBS Group downgraded shares of Verizon Communications from a “buy” rating to a “neutral” rating and set a $57.70 target price for the company. in a research report on Thursday, May 30th. They noted that the move was a valuation call. 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. Finally, Zacks Investment Research upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research report on Saturday, May 11th. Ten analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $58.97.
Shares of NYSE VZ traded down $0.12 during midday trading on Friday, reaching $57.13. 14,601,400 shares of the company traded hands, compared to its average volume of 14,291,931. The firm has a market capitalization of $236.77 billion, a price-to-earnings ratio of 12.13, a PEG ratio of 2.83 and a beta of 0.50. The business’s 50-day moving average price is $57.54. Verizon Communications Inc. has a 12 month low of $49.70 and a 12 month high of $61.58. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.83.
Verizon Communications (NYSE:VZ) last posted its earnings results on Tuesday, April 23rd. The cell phone carrier reported $1.20 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $32.13 billion. During the same period last year, the company earned $1.17 earnings per share. The business’s quarterly revenue was up 1.1% on a year-over-year basis. Equities analysts expect that Verizon Communications Inc. will post 4.75 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be issued a dividend of $0.6025 per share. The ex-dividend date of this dividend is Tuesday, July 9th. This represents a $2.41 dividend on an annualized basis and a dividend yield of 4.22%. Verizon Communications’s dividend payout ratio (DPR) is 51.17%.
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.
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