Verizon Communications Inc. (NYSE:VZ) Stake Boosted by M&R Capital Management Inc.

M&R Capital Management Inc. grew its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 8.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,020 shares of the cell phone carrier’s stock after acquiring an additional 1,373 shares during the period. M&R Capital Management Inc.’s holdings in Verizon Communications were worth $1,072,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Advisor Group Holdings Inc. acquired a new stake in shares of Verizon Communications in the 1st quarter valued at $109,968,000. Nordea Investment Management AB lifted its stake in shares of Verizon Communications by 94.9% in the 2nd quarter. Nordea Investment Management AB now owns 20,863,824 shares of the cell phone carrier’s stock valued at $1,135,410,000 after purchasing an additional 10,157,152 shares during the last quarter. Capital International Investors lifted its stake in shares of Verizon Communications by 17.4% in the 1st quarter. Capital International Investors now owns 35,217,774 shares of the cell phone carrier’s stock valued at $1,892,254,000 after purchasing an additional 5,213,722 shares during the last quarter. APG Asset Management N.V. lifted its stake in shares of Verizon Communications by 34.5% in the 1st quarter. APG Asset Management N.V. now owns 15,146,312 shares of the cell phone carrier’s stock valued at $797,614,000 after purchasing an additional 3,886,881 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its stake in shares of Verizon Communications by 249.4% in the 1st quarter. Two Sigma Advisers LP now owns 5,175,563 shares of the cell phone carrier’s stock valued at $278,083,000 after purchasing an additional 3,694,500 shares during the last quarter. Institutional investors and hedge funds own 64.85% of the company’s stock.

Shares of VZ stock traded down $0.04 during trading hours on Thursday, hitting $59.45. The company had a trading volume of 14,518,651 shares, compared to its average volume of 17,112,992. Verizon Communications Inc. has a 12 month low of $48.84 and a 12 month high of $62.22. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.93 and a current ratio of 0.96. The firm’s fifty day moving average is $59.57 and its 200 day moving average is $56.74. The firm has a market capitalization of $246.01 billion, a price-to-earnings ratio of 12.90, a PEG ratio of 3.67 and a beta of 0.46.

Verizon Communications (NYSE:VZ) last posted its earnings results on Friday, July 24th. The cell phone carrier reported $1.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.15 by $0.03. The business had revenue of $30.40 billion during the quarter, compared to the consensus estimate of $29.98 billion. Verizon Communications had a return on equity of 32.15% and a net margin of 14.76%. Verizon Communications’s revenue was down 5.2% on a year-over-year basis. During the same quarter last year, the company earned $1.23 EPS. On average, sell-side analysts expect that Verizon Communications Inc. will post 4.78 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Friday, October 9th will be given a dividend of $0.6275 per share. This represents a $2.51 annualized dividend and a dividend yield of 4.22%. The ex-dividend date is Thursday, October 8th. This is an increase from Verizon Communications’s previous quarterly dividend of $0.62. Verizon Communications’s dividend payout ratio (DPR) is 51.14%.

A number of research analysts have weighed in on VZ shares. Raymond James boosted their target price on shares of Verizon Communications from $61.00 to $64.00 and gave the stock an “outperform” rating in a research report on Monday, July 27th. Royal Bank of Canada reissued a “hold” rating and set a $57.00 target price on shares of Verizon Communications in a research report on Wednesday, September 9th. Scotiabank boosted their target price on shares of Verizon Communications from $63.00 to $64.00 and gave the stock a “sector outperform” rating in a research report on Monday, July 27th. Oppenheimer started coverage on shares of Verizon Communications in a research report on Tuesday, September 15th. They set a “buy” rating and a $70.00 target price for the company. Finally, Moffett Nathanson reissued a “hold” rating and set a $62.00 target price on shares of Verizon Communications in a research report on Friday, July 24th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $62.27.

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

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