Advisor OS LLC decreased its stake in shares of Verizon Communications Inc. (NYSE:VZ – Free Report) by 25.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,668 shares of the cell phone carrier’s stock after selling 4,268 shares during the quarter. Advisor OS LLC’s holdings in Verizon Communications were worth $522,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the stock. Koesten Hirschmann & Crabtree INC. purchased a new position in shares of Verizon Communications in the first quarter worth $25,000. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Verizon Communications in the fourth quarter worth $29,000. Mizuho Securities Co. Ltd. purchased a new position in shares of Verizon Communications in the second quarter worth $32,000. MFA Wealth Advisors LLC purchased a new position in shares of Verizon Communications in the second quarter worth $33,000. Finally, Vima LLC bought a new stake in shares of Verizon Communications in the fourth quarter worth $36,000. Hedge funds and other institutional investors own 62.06% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts recently commented on the company. TD Cowen lifted their price objective on Verizon Communications from $48.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $42.00 price objective on shares of Verizon Communications in a report on Tuesday, July 23rd. JPMorgan Chase & Co. cut their price target on Verizon Communications from $46.00 to $45.00 and set a “neutral” rating for the company in a report on Tuesday, July 23rd. Tigress Financial boosted their price target on Verizon Communications from $50.00 to $52.00 and gave the company a “buy” rating in a report on Friday, May 17th. Finally, Scotiabank boosted their price target on Verizon Communications from $45.50 to $46.50 and gave the company a “sector perform” rating in a report on Wednesday, July 10th. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.66.
Verizon Communications Price Performance
NYSE:VZ opened at $41.15 on Friday. Verizon Communications Inc. has a 12 month low of $30.14 and a 12 month high of $43.42. The company has a current ratio of 0.63, a quick ratio of 0.60 and a debt-to-equity ratio of 1.29. The business’s 50-day moving average is $40.93 and its 200 day moving average is $40.53. The company has a market capitalization of $173.21 billion, a P/E ratio of 15.35, a P/E/G ratio of 3.81 and a beta of 0.42.
Verizon Communications (NYSE:VZ – Get Free Report) last issued its quarterly earnings data on Monday, July 22nd. The cell phone carrier reported $1.15 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.15. The business had revenue of $32.80 billion for the quarter, compared to the consensus estimate of $33.05 billion. Verizon Communications had a return on equity of 20.10% and a net margin of 8.38%. The company’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.21 earnings per share. On average, equities research analysts forecast that Verizon Communications Inc. will post 4.57 earnings per share for the current fiscal year.
Verizon Communications Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be paid a dividend of $0.678 per share. This is a boost from Verizon Communications’s previous quarterly dividend of $0.67. The ex-dividend date is Thursday, October 10th. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.59%. Verizon Communications’s dividend payout ratio is currently 101.12%.
Verizon Communications Profile
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).
Recommended Stories
- Five stocks we like better than Verizon Communications
- How to Calculate Stock Profit
- Is Merck Stock Undervalued After Its Colossal Earnings Growth?
- How to Use the MarketBeat Stock Screener
- Top 5 ETFs for Every Investor: From Semiconductors to Defense
- Trading Halts Explained
- Blade Air Mobility: This Under-the-Radar Stock Could Double Soon
Receive News & Ratings for Verizon Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verizon Communications and related companies with MarketBeat.com's FREE daily email newsletter.