Guyasuta Investment Advisors Inc. boosted its position in shares of Verizon Communications Inc. (NYSE:VZ) by 5.9% during the second quarter, HoldingsChannel reports. The institutional investor owned 98,579 shares of the cell phone carrier’s stock after purchasing an additional 5,522 shares during the period. Guyasuta Investment Advisors Inc.’s holdings in Verizon Communications were worth $5,523,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Viking Fund Management LLC grew its stake in Verizon Communications by 4.2% during the second quarter. Viking Fund Management LLC now owns 150,000 shares of the cell phone carrier’s stock worth $8,405,000 after buying an additional 6,000 shares in the last quarter. Red Door Wealth Management LLC grew its stake in Verizon Communications by 17.7% during the second quarter. Red Door Wealth Management LLC now owns 39,510 shares of the cell phone carrier’s stock worth $2,213,000 after buying an additional 5,949 shares in the last quarter. Axiom Investment Management LLC acquired a new stake in Verizon Communications during the first quarter worth about $1,967,000. ARS Wealth Advisors LLC grew its stake in Verizon Communications by 9.2% during the first quarter. ARS Wealth Advisors LLC now owns 118,328 shares of the cell phone carrier’s stock worth $6,881,000 after buying an additional 9,950 shares in the last quarter. Finally, Man Group plc boosted its stake in shares of Verizon Communications by 2.6% in the 1st quarter. Man Group plc now owns 513,577 shares of the cell phone carrier’s stock valued at $29,864,000 after purchasing an additional 13,065 shares in the last quarter. Hedge funds and other institutional investors own 63.65% of the company’s stock.
A number of research firms have recently weighed in on VZ. Tigress Financial restated a “buy” rating and issued a $67.00 price target on shares of Verizon Communications in a research note on Wednesday, July 7th. Loop Capital began coverage on shares of Verizon Communications in a research note on Monday, September 20th. They issued a “hold” rating and a $57.00 price target on the stock. Redburn Partners began coverage on shares of Verizon Communications in a research note on Friday, June 25th. They issued a “sell” rating and a $50.00 price target on the stock. Cowen raised their price target on shares of Verizon Communications from $66.00 to $68.00 and gave the company an “outperform” rating in a research note on Thursday, July 22nd. Finally, Credit Suisse Group raised their price target on shares of Verizon Communications from $59.00 to $60.00 and gave the company a “neutral” rating in a research note on Thursday, July 22nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Verizon Communications currently has a consensus rating of “Hold” and an average price target of $60.75.
NYSE VZ traded up $0.21 during trading hours on Monday, reaching $54.58. The company’s stock had a trading volume of 306,837 shares, compared to its average volume of 17,322,877. The firm has a fifty day simple moving average of $55.19 and a 200-day simple moving average of $56.46. The stock has a market cap of $225.97 billion, a P/E ratio of 11.28, a P/E/G ratio of 2.89 and a beta of 0.47. Verizon Communications Inc. has a 52 week low of $53.83 and a 52 week high of $61.95. The company has a debt-to-equity ratio of 1.93, a current ratio of 0.89 and a quick ratio of 0.85.
Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Tuesday, July 20th. The cell phone carrier reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.07. Verizon Communications had a net margin of 15.05% and a return on equity of 30.00%. The firm had revenue of $33.76 billion during the quarter, compared to analyst estimates of $32.73 billion. During the same quarter last year, the business earned $1.18 EPS. The company’s revenue was up 10.9% compared to the same quarter last year. On average, research analysts expect that Verizon Communications Inc. will post 5.31 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, November 1st. Shareholders of record on Friday, October 8th will be issued a dividend of $0.64 per share. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend is Thursday, October 7th. This represents a $2.56 annualized dividend and a yield of 4.69%. Verizon Communications’s dividend payout ratio (DPR) is presently 51.22%.
Verizon Communications Profile
Verizon Communications, Inc is a holding company, which engages in the provision of communications, information, and entertainment products and services to consumers, businesses, and governmental agencies. It operates through the Verizon Consumer Group (Consumer) and Verizon Business Group (Business) segments.
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