TRH Financial LLC raised its position in shares of Verizon Communications Inc. (NYSE:VZ) by 7.7% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,484 shares of the cell phone carrier’s stock after purchasing an additional 321 shares during the quarter. TRH Financial LLC’s holdings in Verizon Communications were worth $267,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the business. United Bank boosted its holdings in Verizon Communications by 0.7% in the second quarter. United Bank now owns 24,535 shares of the cell phone carrier’s stock worth $1,353,000 after purchasing an additional 166 shares during the last quarter. Acropolis Investment Management LLC lifted its holdings in shares of Verizon Communications by 0.7% during the 3rd quarter. Acropolis Investment Management LLC now owns 23,576 shares of the cell phone carrier’s stock valued at $1,403,000 after buying an additional 171 shares during the period. Keebeck Wealth Management LLC boosted its stake in shares of Verizon Communications by 4.6% in the 2nd quarter. Keebeck Wealth Management LLC now owns 4,019 shares of the cell phone carrier’s stock worth $221,000 after buying an additional 175 shares during the last quarter. Strategy Asset Managers LLC grew its holdings in shares of Verizon Communications by 0.3% in the second quarter. Strategy Asset Managers LLC now owns 62,074 shares of the cell phone carrier’s stock worth $3,423,000 after acquiring an additional 176 shares during the period. Finally, Arkfeld Wealth Strategies L.L.C. increased its position in Verizon Communications by 4.0% during the second quarter. Arkfeld Wealth Strategies L.L.C. now owns 4,709 shares of the cell phone carrier’s stock valued at $260,000 after acquiring an additional 180 shares during the last quarter. Institutional investors and hedge funds own 64.85% of the company’s stock.
A number of equities research analysts have issued reports on VZ shares. Moffett Nathanson restated a “hold” rating and set a $62.00 price target on shares of Verizon Communications in a research note on Friday, July 24th. Raymond James upped their target price on shares of Verizon Communications from $61.00 to $64.00 and gave the company an “outperform” rating in a report on Monday, July 27th. Argus upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a research report on Tuesday, September 8th. UBS Group boosted their price objective on shares of Verizon Communications from $59.00 to $60.00 and gave the company a “neutral” rating in a research report on Monday, July 27th. Finally, Scotiabank raised their price objective on Verizon Communications from $63.00 to $64.00 and gave the stock a “sector outperform” rating in a research note on Monday, July 27th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $62.24.
Shares of VZ opened at $58.05 on Friday. The stock has a market capitalization of $240.21 billion, a PE ratio of 12.59, a P/E/G ratio of 3.67 and a beta of 0.46. The company’s fifty day moving average is $59.66 and its 200 day moving average is $57.28. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.93 and a current ratio of 0.96. Verizon Communications Inc. has a fifty-two week low of $48.84 and a fifty-two week high of $62.22.
Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Friday, July 24th. The cell phone carrier reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.03. The business had revenue of $30.40 billion during 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 business’s revenue was down 5.2% on a year-over-year basis. During the same period last year, the company posted $1.23 EPS. As a group, research analysts forecast that Verizon Communications Inc. will post 4.78 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Friday, October 9th will be paid a dividend of $0.6275 per share. This is a boost from Verizon Communications’s previous quarterly dividend of $0.62. This represents a $2.51 annualized dividend and a yield of 4.32%. The ex-dividend date is Thursday, October 8th. Verizon Communications’s payout ratio is presently 52.18%.
Verizon Communications 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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