Verizon Communications Inc. (NYSE:VZ) Shares Acquired by Strategic Blueprint LLC

Strategic Blueprint LLC boosted its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 1.3% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 38,368 shares of the cell phone carrier’s stock after acquiring an additional 494 shares during the period. Strategic Blueprint LLC’s holdings in Verizon Communications were worth $1,582,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Fort Pitt Capital Group LLC grew its stake in Verizon Communications by 23.3% during the 2nd quarter. Fort Pitt Capital Group LLC now owns 7,034 shares of the cell phone carrier’s stock valued at $290,000 after acquiring an additional 1,330 shares in the last quarter. Northeast Investment Management grew its position in Verizon Communications by 8.2% in the second quarter. Northeast Investment Management now owns 25,196 shares of the cell phone carrier’s stock worth $1,039,000 after acquiring an additional 1,913 shares during the period. Beacon Financial Advisory LLC increased its stake in Verizon Communications by 19.0% during the second quarter. Beacon Financial Advisory LLC now owns 25,707 shares of the cell phone carrier’s stock worth $1,060,000 after acquiring an additional 4,111 shares during the last quarter. Lester Murray Antman dba SimplyRich raised its position in Verizon Communications by 10.9% in the second quarter. Lester Murray Antman dba SimplyRich now owns 8,268 shares of the cell phone carrier’s stock valued at $340,000 after purchasing an additional 812 shares during the period. Finally, Breakwater Capital Group acquired a new position in shares of Verizon Communications in the 2nd quarter valued at $228,000. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Verizon Communications Stock Down 0.5 %

Shares of NYSE:VZ traded down $0.21 during trading on Thursday, hitting $41.28. 1,151,394 shares of the company were exchanged, compared to its average volume of 18,244,797. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.63 and a quick ratio of 0.60. The firm’s 50 day moving average price is $40.78 and its 200-day moving average price is $40.46. The stock has a market capitalization of $173.76 billion, a P/E ratio of 15.44, a PEG ratio of 3.72 and a beta of 0.41. Verizon Communications Inc. has a 12-month low of $30.14 and a 12-month high of $43.42.

Verizon Communications (NYSE:VZ) last announced its earnings results on Monday, July 22nd. The cell phone carrier reported $1.15 EPS for the quarter, meeting analysts’ consensus estimates of $1.15. Verizon Communications had a net margin of 8.38% and a return on equity of 20.10%. The business had revenue of $32.80 billion for the quarter, compared to analysts’ expectations of $33.05 billion. During the same period in the previous year, the company posted $1.21 EPS. The company’s quarterly revenue was up .6% on a year-over-year basis. On average, research analysts predict that Verizon Communications Inc. will post 4.58 earnings per share for the current fiscal year.

Verizon Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were paid a $0.665 dividend. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $2.66 annualized dividend and a yield of 6.44%. Verizon Communications’s dividend payout ratio is currently 99.25%.

Analysts Set New Price Targets

Several analysts recently weighed in on VZ shares. Tigress Financial lifted their target price on shares of Verizon Communications from $50.00 to $52.00 and gave the company a “buy” rating in a report on Friday, May 17th. JPMorgan Chase & Co. reduced their target price on shares of Verizon Communications from $46.00 to $45.00 and set a “neutral” rating on the stock in a report on Tuesday, July 23rd. The Goldman Sachs Group assumed coverage on shares of Verizon Communications in a research report on Monday, July 1st. They issued a “buy” rating and a $50.00 price target for the company. Scotiabank upped their price objective on Verizon Communications from $45.50 to $46.50 and gave the stock a “sector perform” rating in a research report on Wednesday, July 10th. Finally, StockNews.com upgraded Verizon Communications from a “hold” rating to a “buy” rating in a report on Saturday, May 4th. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $45.78.

About Verizon Communications

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).