Verizon Communications Inc. $VZ Position Increased by Wealthfront Advisers LLC

Wealthfront Advisers LLC grew its position in Verizon Communications Inc. (NYSE:VZ) by 2.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 532,247 shares of the cell phone carrier’s stock after buying an additional 14,964 shares during the quarter. Wealthfront Advisers LLC’s holdings in Verizon Communications were worth $23,030,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in VZ. Bulwark Capital Corp acquired a new position in Verizon Communications in the 2nd quarter worth approximately $25,000. Advantage Trust Co lifted its holdings in shares of Verizon Communications by 549.5% in the second quarter. Advantage Trust Co now owns 591 shares of the cell phone carrier’s stock valued at $26,000 after purchasing an additional 500 shares in the last quarter. 1 North Wealth Services LLC acquired a new stake in shares of Verizon Communications in the first quarter worth $29,000. Accent Capital Management LLC purchased a new position in shares of Verizon Communications during the first quarter valued at $30,000. Finally, RMG Wealth Management LLC acquired a new position in Verizon Communications during the second quarter valued at $30,000. Institutional investors and hedge funds own 62.06% of the company’s stock.

Verizon Communications Price Performance

NYSE VZ opened at $38.83 on Friday. The company has a quick ratio of 0.60, a current ratio of 0.64 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $163.70 billion, a PE ratio of 9.05, a price-to-earnings-growth ratio of 2.93 and a beta of 0.37. Verizon Communications Inc. has a 12-month low of $37.58 and a 12-month high of $47.35. The company has a 50 day moving average price of $42.84 and a two-hundred day moving average price of $42.97.

Verizon Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be paid a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 7.1%. The ex-dividend date of this dividend 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%.

Analysts Set New Price Targets

VZ has been the subject of a number of research reports. Weiss Ratings lowered Verizon Communications from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday. JPMorgan Chase & Co. increased their price target on shares of Verizon Communications from $47.00 to $49.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 22nd. Wall Street Zen downgraded shares of Verizon Communications from a “buy” rating to a “hold” rating in a research report on Friday, September 26th. Bank of America increased their target price 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. Finally, Wells Fargo & Company lifted their target price on shares of Verizon Communications from $42.00 to $43.00 and gave the company an “equal weight” rating in a research note on Thursday, July 10th. Three investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and thirteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, Verizon Communications currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.41.

Verizon Communications 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).