Signature Estate & Investment Advisors LLC raised its holdings in Verizon Communications Inc. (NYSE:VZ) by 3.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,730 shares of the cell phone carrier’s stock after acquiring an additional 226 shares during the quarter. Signature Estate & Investment Advisors LLC’s holdings in Verizon Communications were worth $400,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the business. Public Employees Retirement Association of Colorado lifted its stake in shares of Verizon Communications by 6.0% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 782,399 shares of the cell phone carrier’s stock valued at $42,038,000 after purchasing an additional 44,297 shares during the period. Driehaus Capital Management LLC increased its holdings in Verizon Communications by 15.9% in the first quarter. Driehaus Capital Management LLC now owns 6,378 shares of the cell phone carrier’s stock valued at $343,000 after purchasing an additional 877 shares during the period. Chilton Capital Management LLC raised its position in Verizon Communications by 4.1% during the 1st quarter. Chilton Capital Management LLC now owns 11,348 shares of the cell phone carrier’s stock worth $610,000 after purchasing an additional 445 shares during the last quarter. Guardian Capital Advisors LP lifted its holdings in Verizon Communications by 7.1% during the 1st quarter. Guardian Capital Advisors LP now owns 8,032 shares of the cell phone carrier’s stock worth $299,000 after buying an additional 532 shares during the period. Finally, CWA Asset Management Group LLC lifted its holdings in Verizon Communications by 17.4% during the 1st quarter. CWA Asset Management Group LLC now owns 203,051 shares of the cell phone carrier’s stock worth $10,910,000 after buying an additional 30,158 shares during the period. 64.85% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have recently issued reports on VZ shares. Tigress Financial restated a “hold” rating on shares of Verizon Communications in a research report on Tuesday, August 11th. Credit Suisse Group restated a “hold” rating and issued a $61.00 price target on shares of Verizon Communications in a research report on Thursday, July 2nd. Raymond James increased their price objective on shares of Verizon Communications from $61.00 to $64.00 and gave the stock an “outperform” rating in a research report on Monday, July 27th. UBS Group lifted their target price on shares of Verizon Communications from $59.00 to $60.00 and gave the stock a “neutral” rating in a research note on Monday, July 27th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and set a $57.00 price target on shares of Verizon Communications in a research report on Wednesday, September 9th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $62.24.
Verizon Communications stock opened at $58.05 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 1.66. The firm’s fifty day moving average price is $59.66 and its two-hundred day moving average price is $57.28. The firm has a market capitalization of $240.21 billion, a price-to-earnings ratio of 12.59, a price-to-earnings-growth ratio of 3.67 and a beta of 0.46. Verizon Communications Inc. has a 1-year low of $48.84 and a 1-year high of $62.22.
Verizon Communications (NYSE:VZ) last announced its quarterly earnings results on Friday, July 24th. The cell phone carrier reported $1.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.03. The business had revenue of $30.40 billion for the quarter, compared to analysts’ expectations of $29.98 billion. Verizon Communications had a net margin of 14.76% and a return on equity of 32.15%. The firm’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.23 EPS. On average, research analysts forecast that Verizon Communications Inc. will post 4.78 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Friday, October 9th will be given a dividend of $0.6275 per share. This is a boost from Verizon Communications’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Thursday, October 8th. This represents a $2.51 annualized dividend and a dividend yield of 4.32%. Verizon Communications’s payout ratio is presently 52.18%.
Verizon Communications Company Profile
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; international travel wireless services; and network access services to deliver various Internet of Things products and services, as well as offers digital advertising and digital media services platforms.
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