Boenning & Scattergood Inc. Acquires 1,324 Shares of Verizon Communications Inc. (VZ)

Boenning & Scattergood Inc. raised its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 1.2% in the 3rd quarter, Holdings Channel reports. The firm owned 107,338 shares of the cell phone carrier’s stock after purchasing an additional 1,324 shares during the quarter. Verizon Communications accounts for 1.8% of Boenning & Scattergood Inc.’s holdings, making the stock its 7th biggest holding. Boenning & Scattergood Inc.’s holdings in Verizon Communications were worth $5,730,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Cedar Hill Associates LLC raised its holdings in shares of Verizon Communications by 7.7% in the second quarter. Cedar Hill Associates LLC now owns 13,539 shares of the cell phone carrier’s stock valued at $681,000 after acquiring an additional 968 shares in the last quarter. West Oak Capital LLC raised its holdings in shares of Verizon Communications by 2.9% in the third quarter. West Oak Capital LLC now owns 34,650 shares of the cell phone carrier’s stock valued at $1,850,000 after acquiring an additional 970 shares in the last quarter. Bailard Inc. raised its holdings in shares of Verizon Communications by 1.0% in the second quarter. Bailard Inc. now owns 99,356 shares of the cell phone carrier’s stock valued at $4,999,000 after acquiring an additional 977 shares in the last quarter. Live Your Vision LLC raised its holdings in shares of Verizon Communications by 24.0% in the second quarter. Live Your Vision LLC now owns 5,166 shares of the cell phone carrier’s stock valued at $265,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Vantage Financial Partners Ltd. Inc. raised its holdings in shares of Verizon Communications by 6.7% in the second quarter. Vantage Financial Partners Ltd. Inc. now owns 15,879 shares of the cell phone carrier’s stock valued at $799,000 after acquiring an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 65.02% of the company’s stock.

Several research firms recently weighed in on VZ. Scotiabank set a $62.00 price objective on Verizon Communications and gave the company a “buy” rating in a report on Wednesday, October 24th. Zacks Investment Research downgraded Verizon Communications from a “buy” rating to a “hold” rating in a report on Monday, October 1st. ValuEngine upgraded Verizon Communications from a “hold” rating to a “buy” rating in a report on Wednesday, October 24th. Bank of America restated a “buy” rating and issued a $58.00 price objective on shares of Verizon Communications in a report on Monday, October 22nd. Finally, Moffett Nathanson restated a “neutral” rating and issued a $56.00 price objective on shares of Verizon Communications in a report on Tuesday, September 4th. Eight analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $56.22.

Shares of Verizon Communications stock opened at $57.68 on Friday. The stock has a market capitalization of $239.79 billion, a price-to-earnings ratio of 15.42, a PEG ratio of 2.53 and a beta of 0.49. The company has a quick ratio of 0.93, a current ratio of 0.97 and a debt-to-equity ratio of 1.90. Verizon Communications Inc. has a one year low of $46.08 and a one year high of $61.58.

Verizon Communications (NYSE:VZ) last announced its earnings results on Tuesday, October 23rd. The cell phone carrier reported $1.22 EPS for the quarter, topping the Zacks’ consensus estimate of $1.19 by $0.03. The business had revenue of $32.61 billion during the quarter, compared to the consensus estimate of $32.45 billion. Verizon Communications had a net margin of 24.71% and a return on equity of 35.50%. The firm’s revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.98 earnings per share. On average, sell-side analysts anticipate that Verizon Communications Inc. will post 4.68 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, February 1st. Shareholders of record on Thursday, January 10th will be issued a $0.6025 dividend. The ex-dividend date is Wednesday, January 9th. This represents a $2.41 dividend on an annualized basis and a yield of 4.18%. Verizon Communications’s dividend payout ratio is presently 64.44%.

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About Verizon Communications

Verizon Communications Inc, through its subsidiaries, offers communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company's Wireless segment provides wireless voice and data services; Internet access on various notebook computers and tablets; multimedia, business-focused, and location-based services, as well as international travel services; and network access services to deliver various Internet of Things products and services.

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Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

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