Jacobsen Capital Management Raises Holdings in Verizon Communications Inc. $VZ

Jacobsen Capital Management increased its holdings in Verizon Communications Inc. (NYSE:VZ) by 10.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,337 shares of the cell phone carrier’s stock after buying an additional 784 shares during the period. Jacobsen Capital Management’s holdings in Verizon Communications were worth $361,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FNY Investment Advisers LLC purchased a new position in shares of Verizon Communications in the 2nd quarter valued at $51,000. D.A. Davidson & CO. boosted its position in Verizon Communications by 0.7% during the second quarter. D.A. Davidson & CO. now owns 512,669 shares of the cell phone carrier’s stock valued at $22,183,000 after purchasing an additional 3,528 shares in the last quarter. Blume Capital Management Inc. grew its stake in Verizon Communications by 849.8% in the second quarter. Blume Capital Management Inc. now owns 22,092 shares of the cell phone carrier’s stock valued at $956,000 after purchasing an additional 19,766 shares during the last quarter. Cullen Frost Bankers Inc. raised its holdings in Verizon Communications by 1.5% in the second quarter. Cullen Frost Bankers Inc. now owns 516,737 shares of the cell phone carrier’s stock worth $22,359,000 after purchasing an additional 7,453 shares in the last quarter. Finally, Wallace Advisory Group LLC lifted its position in shares of Verizon Communications by 59.5% during the second quarter. Wallace Advisory Group LLC now owns 31,208 shares of the cell phone carrier’s stock valued at $1,416,000 after buying an additional 11,647 shares during the last quarter. Institutional investors own 62.06% of the company’s stock.

Wall Street Analyst Weigh In

VZ has been the topic of a number of analyst reports. Bank of America lifted their price objective on shares of Verizon Communications from $45.00 to $49.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 22nd. Royal Bank Of Canada lifted their price target on shares of Verizon Communications from $45.00 to $46.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 22nd. The Goldman Sachs Group initiated coverage on Verizon Communications in a report on Tuesday, September 2nd. They set a “buy” rating and a $49.00 price objective for the company. BNP Paribas Exane cut Verizon Communications from an “outperform” rating to a “neutral” rating and set a $44.00 price objective for the company. in a research report on Tuesday. Finally, Scotiabank boosted their target price on Verizon Communications from $50.00 to $50.50 and gave the stock a “sector perform” rating in a research note on Monday, October 6th. Three research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $47.41.

Verizon Communications Trading Down 1.3%

NYSE VZ opened at $40.29 on Wednesday. Verizon Communications Inc. has a 12-month low of $37.58 and a 12-month high of $47.35. The company has a fifty day simple moving average of $43.12 and a two-hundred day simple moving average of $43.04. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 1.19. The stock has a market cap of $169.88 billion, a P/E ratio of 9.39, a P/E/G ratio of 3.07 and a beta of 0.37.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.03. The firm had revenue of $34.50 billion for the quarter, compared to analyst estimates of $33.47 billion. Verizon Communications had a net margin of 13.28% and a return on equity of 19.61%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.15 earnings per share. On average, analysts forecast that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 6.9%. The ex-dividend date is Friday, October 10th. This is a boost from Verizon Communications’s previous quarterly dividend of $0.68. Verizon Communications’s dividend payout ratio (DPR) is presently 64.34%.

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).