Knuff & Co LLC Grows Holdings in Verizon Communications Inc. (NYSE:VZ)

Knuff & Co LLC increased its holdings in shares of Verizon Communications Inc. (NYSE:VZGet Rating) by 71.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,492 shares of the cell phone carrier’s stock after buying an additional 5,617 shares during the period. Knuff & Co LLC’s holdings in Verizon Communications were worth $512,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. LFA Lugano Financial Advisors SA acquired a new position in Verizon Communications during the 2nd quarter worth approximately $28,000. HBC Financial Services PLLC acquired a new position in Verizon Communications during the 2nd quarter worth approximately $30,000. Founders Capital Management acquired a new position in Verizon Communications during the 2nd quarter worth approximately $34,000. Mizuho Securities Co. Ltd. boosted its holdings in shares of Verizon Communications by 340.7% in the 2nd quarter. Mizuho Securities Co. Ltd. now owns 736 shares of the cell phone carrier’s stock valued at $38,000 after buying an additional 569 shares in the last quarter. Finally, Western Pacific Wealth Management LP boosted its holdings in shares of Verizon Communications by 273.5% in the 3rd quarter. Western Pacific Wealth Management LP now owns 1,016 shares of the cell phone carrier’s stock valued at $38,000 after buying an additional 744 shares in the last quarter. 60.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on VZ. Cowen dropped their price objective on Verizon Communications from $64.00 to $55.00 and set an “outperform” rating on the stock in a report on Monday, October 24th. StockNews.com raised Verizon Communications from a “hold” rating to a “buy” rating in a report on Thursday, October 13th. Raymond James cut their target price on shares of Verizon Communications from $54.00 to $51.00 and set an “outperform” rating on the stock in a report on Monday, October 24th. Moffett Nathanson raised shares of Verizon Communications from an “underperform” rating to a “market perform” rating and set a $41.00 price objective on the stock in a research report on Monday, December 19th. Finally, UBS Group reduced their target price on shares of Verizon Communications from $47.00 to $37.00 and set a “neutral” rating for the company in a report on Monday, October 24th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Verizon Communications presently has a consensus rating of “Hold” and an average price target of $47.68.

Verizon Communications Price Performance

VZ stock opened at $40.42 on Wednesday. The stock has a 50-day moving average price of $39.09 and a two-hundred day moving average price of $40.72. Verizon Communications Inc. has a 12-month low of $32.76 and a 12-month high of $55.51. The company has a current ratio of 0.75, a quick ratio of 0.69 and a debt-to-equity ratio of 1.50. The company has a market cap of $169.76 billion, a PE ratio of 8.77, a price-to-earnings-growth ratio of 1.91 and a beta of 0.37.

Verizon Communications (NYSE:VZGet Rating) last issued its earnings results on Tuesday, January 24th. The cell phone carrier reported $1.19 earnings per share for the quarter, hitting the consensus estimate of $1.19. Verizon Communications had a return on equity of 25.80% and a net margin of 14.22%. The company had revenue of $35.30 billion during the quarter, compared to the consensus estimate of $35.14 billion. During the same quarter in the prior year, the business earned $1.31 earnings per share. The company’s revenue was up 3.5% compared to the same quarter last year. As a group, research analysts predict that Verizon Communications Inc. will post 5.18 EPS for the current year.

Verizon Communications Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 1st. Investors of record on Tuesday, January 10th will be issued a $0.6525 dividend. This represents a $2.61 dividend on an annualized basis and a yield of 6.46%. The ex-dividend date of this dividend is Monday, January 9th. Verizon Communications’s dividend payout ratio is currently 56.62%.

Verizon Communications Profile

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Verizon Communications Inc, through its subsidiaries, offers communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. Its Consumer segment provides postpaid and prepaid service plans; internet access on notebook computers and tablets; wireless equipment, including smartphones and other handsets; and wireless-enabled internet devices, such as tablets, and other wireless-enabled connected devices comprising smart watches.

See Also

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

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