BOK Financial Private Wealth Inc. Has $109,000 Stock Position in Verizon Communications Inc. (NYSE:VZ)

BOK Financial Private Wealth Inc. grew its position in Verizon Communications Inc. (NYSE:VZ) by 23.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 2,588 shares of the cell phone carrier’s stock after buying an additional 488 shares during the period. BOK Financial Private Wealth Inc.’s holdings in Verizon Communications were worth $109,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in VZ. Norges Bank acquired a new stake in shares of Verizon Communications during the fourth quarter worth $1,882,164,000. Capital World Investors raised its holdings in Verizon Communications by 127.6% during the fourth quarter. Capital World Investors now owns 21,801,067 shares of the cell phone carrier’s stock worth $821,900,000 after acquiring an additional 12,220,777 shares in the last quarter. Capital Research Global Investors raised its holdings in Verizon Communications by 92.9% during the fourth quarter. Capital Research Global Investors now owns 22,599,173 shares of the cell phone carrier’s stock worth $851,989,000 after acquiring an additional 10,882,873 shares in the last quarter. Third Point LLC bought a new stake in Verizon Communications in the fourth quarter valued at approximately $173,325,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in Verizon Communications by 419.8% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 5,141,257 shares of the cell phone carrier’s stock valued at $193,825,000 after buying an additional 4,152,099 shares during the period. 62.06% of the stock is owned by institutional investors and hedge funds.

Verizon Communications Trading Up 0.4 %

NYSE:VZ traded up $0.15 during trading hours on Friday, hitting $41.27. 17,552,239 shares of the company were exchanged, compared to its average volume of 15,519,950. The stock has a market capitalization of $173.72 billion, a price-to-earnings ratio of 15.40, a price-to-earnings-growth ratio of 3.74 and a beta of 0.41. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 1.42. Verizon Communications Inc. has a one year low of $30.14 and a one year high of $43.42. The company has a fifty day simple moving average of $40.27 and a 200 day simple moving average of $40.15.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Monday, April 22nd. The cell phone carrier reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.03. Verizon Communications had a return on equity of 20.41% and a net margin of 8.44%. The firm had revenue of $33 billion during the quarter, compared to the consensus estimate of $33.23 billion. During the same period last year, the business posted $1.20 EPS. The business’s revenue was up .3% compared to the same quarter last year. Sell-side analysts expect that Verizon Communications Inc. will post 4.59 EPS for the current fiscal year.

Verizon Communications Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be issued a dividend of $0.665 per share. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $2.66 dividend on an annualized basis and a yield of 6.45%. Verizon Communications’s payout ratio is currently 99.25%.

Wall Street Analyst Weigh In

Several research firms have issued reports on VZ. StockNews.com upgraded Verizon Communications from a “hold” rating to a “buy” rating in a research note on Saturday, May 4th. Redburn Atlantic upgraded Verizon Communications from a “sell” rating to a “neutral” rating and upped their target price for the stock from $33.00 to $39.00 in a research note on Friday, March 22nd. Oppenheimer restated an “outperform” rating and set a $48.00 target price on shares of Verizon Communications in a research note on Tuesday, April 23rd. The Goldman Sachs Group initiated coverage on Verizon Communications in a research note on Monday, July 1st. They set a “buy” rating and a $50.00 target price for the company. Finally, Wells Fargo & Company dropped their price target on Verizon Communications from $44.00 to $40.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 23rd. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $45.14.

Verizon Communications Company Profile

Verizon Communications Inc, through its subsidiaries, engages in the provision of communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. It operates in two segments, Verizon Consumer Group (Consumer) and Verizon Business Group (Business).