Quent Capital LLC Has $366,000 Position in Verizon Communications Inc. (NYSE:VZ)

Quent Capital LLC grew its position in Verizon Communications Inc. (NYSE:VZ) by 19.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,877 shares of the cell phone carrier’s stock after buying an additional 1,455 shares during the quarter. Quent Capital LLC’s holdings in Verizon Communications were worth $366,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in VZ. Koesten Hirschmann & Crabtree INC. acquired a new position in Verizon Communications during the 1st quarter worth approximately $25,000. Criterion Capital Advisors LLC acquired a new position in Verizon Communications during the 4th quarter worth approximately $25,000. Vermillion & White Wealth Management Group LLC acquired a new position in Verizon Communications in the 4th quarter valued at approximately $29,000. Morton Brown Family Wealth LLC increased its position in Verizon Communications by 130.1% in the 4th quarter. Morton Brown Family Wealth LLC now owns 863 shares of the cell phone carrier’s stock valued at $33,000 after acquiring an additional 488 shares during the period. Finally, Pittenger & Anderson Inc. increased its position in Verizon Communications by 50.4% in the 1st quarter. Pittenger & Anderson Inc. now owns 883 shares of the cell phone carrier’s stock valued at $37,000 after acquiring an additional 296 shares during the period. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Verizon Communications Stock Up 1.2 %

VZ stock traded up $0.46 during trading on Tuesday, reaching $40.26. 18,100,834 shares of the stock were exchanged, compared to its average volume of 19,001,678. The firm’s 50 day moving average is $40.65 and its 200 day moving average is $40.52. The firm has a market cap of $169.48 billion, a P/E ratio of 15.02, a price-to-earnings-growth ratio of 3.72 and a beta of 0.41. The company has a current ratio of 0.63, a quick ratio of 0.60 and a debt-to-equity ratio of 1.29. Verizon Communications Inc. has a twelve month low of $30.14 and a twelve month high of $43.42.

Verizon Communications (NYSE:VZ) last issued its earnings results on Monday, July 22nd. The cell phone carrier reported $1.15 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.15. Verizon Communications had a return on equity of 20.10% and a net margin of 8.38%. The company had revenue of $32.80 billion for the quarter, compared to analyst estimates of $33.05 billion. During the same period in the prior year, the firm earned $1.21 earnings per share. Verizon Communications’s revenue for the quarter was up .6% on a year-over-year basis. As a group, research analysts forecast that Verizon Communications Inc. will post 4.58 EPS for the current year.

Verizon Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 6.61%. The ex-dividend date of this dividend was Wednesday, July 10th. Verizon Communications’s dividend payout ratio is currently 99.25%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on VZ. Wells Fargo & Company decreased their price target on shares of Verizon Communications from $44.00 to $40.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 23rd. StockNews.com upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating in a research report on Saturday, May 4th. Royal Bank of Canada restated a “sector perform” rating and issued a $42.00 price target on shares of Verizon Communications in a research report on Tuesday, July 23rd. TD Cowen upped their price target on shares of Verizon Communications from $48.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $48.00 price objective on shares of Verizon Communications in a research note on Tuesday, April 23rd. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $45.78.

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).