Larson Financial Group LLC Has $801,000 Holdings in Verizon Communications Inc. (NYSE:VZ)

Larson Financial Group LLC lifted its holdings in Verizon Communications Inc. (NYSE:VZ) by 31.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,426 shares of the cell phone carrier’s stock after acquiring an additional 4,601 shares during the period. Larson Financial Group LLC’s holdings in Verizon Communications were worth $801,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in VZ. Vanguard Group Inc. increased its position in shares of Verizon Communications by 0.3% during the first quarter. Vanguard Group Inc. now owns 351,267,175 shares of the cell phone carrier’s stock worth $14,739,171,000 after acquiring an additional 1,216,963 shares in the last quarter. Norges Bank purchased a new stake in shares of Verizon Communications in the fourth quarter valued at about $1,882,164,000. Capital Research Global Investors boosted 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 purchasing an additional 10,882,873 shares during the last quarter. Capital World Investors increased its stake in Verizon Communications by 127.6% in the 4th quarter. Capital World Investors now owns 21,801,067 shares of the cell phone carrier’s stock valued at $821,900,000 after buying an additional 12,220,777 shares during the last quarter. Finally, Raymond James & Associates grew its holdings in shares of Verizon Communications by 0.6% in the second quarter. Raymond James & Associates now owns 16,458,264 shares of the cell phone carrier’s stock valued at $678,739,000 after acquiring an additional 104,447 shares in the last quarter. 62.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

VZ has been the subject of a number of research reports. The Goldman Sachs Group began coverage on shares of Verizon Communications in a research note on Monday, July 1st. They issued a “buy” rating and a $50.00 price objective for the company. Royal Bank of Canada restated a “sector perform” rating and issued a $42.00 price target on shares of Verizon Communications in a research note on Tuesday, July 23rd. JPMorgan Chase & Co. cut their price objective on Verizon Communications from $46.00 to $45.00 and set a “neutral” rating for the company in a research note on Tuesday, July 23rd. Scotiabank lifted their price objective on shares of Verizon Communications from $45.50 to $46.50 and gave the company a “sector perform” rating in a research report on Wednesday, July 10th. Finally, TD Cowen raised their target price on shares of Verizon Communications from $48.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Verizon Communications has an average rating of “Moderate Buy” and a consensus target price of $45.78.

Verizon Communications Stock Performance

Shares of VZ stock opened at $41.43 on Thursday. The company has a market capitalization of $174.39 billion, a price-to-earnings ratio of 15.46, a P/E/G ratio of 3.81 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. The stock’s fifty day simple moving average is $40.92 and its 200-day simple moving average is $40.52. Verizon Communications Inc. has a 1-year low of $30.14 and a 1-year high of $43.42.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Monday, July 22nd. The cell phone carrier reported $1.15 EPS for the quarter, meeting analysts’ consensus estimates of $1.15. The business had revenue of $32.80 billion during the quarter, compared to analyst estimates of $33.05 billion. Verizon Communications had a net margin of 8.38% and a return on equity of 20.10%. The firm’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.21 earnings per share. On average, sell-side analysts predict that Verizon Communications Inc. will post 4.57 earnings per share for the current fiscal year.

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).