Verizon Communications Inc. (NYSE:VZ) Shares Acquired by Alpha DNA Investment Management LLC

Alpha DNA Investment Management LLC increased its position in shares of Verizon Communications Inc. (NYSE:VZ) by 9.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 55,330 shares of the cell phone carrier’s stock after buying an additional 4,853 shares during the period. Verizon Communications comprises about 0.9% of Alpha DNA Investment Management LLC’s portfolio, making the stock its 13th biggest position. Alpha DNA Investment Management LLC’s holdings in Verizon Communications were worth $2,282,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Koesten Hirschmann & Crabtree INC. acquired a new stake in shares of Verizon Communications during the 1st quarter worth about $25,000. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Verizon Communications in the 4th quarter valued at $29,000. Mizuho Securities Co. Ltd. acquired a new stake in Verizon Communications during the 2nd quarter worth $32,000. MFA Wealth Advisors LLC purchased a new stake in Verizon Communications in the second quarter valued at $33,000. Finally, Vima LLC acquired a new position in Verizon Communications in the fourth quarter valued at $36,000. Institutional investors and hedge funds own 62.06% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on VZ shares. Royal Bank of Canada lifted their target price on Verizon Communications from $42.00 to $46.00 and gave the stock a “sector perform” rating in a research report on Monday. The Goldman Sachs Group began coverage on Verizon Communications in a report on Monday, July 1st. They issued a “buy” rating and a $50.00 price objective for the company. KeyCorp cut their target price on shares of Verizon Communications from $46.00 to $44.00 and set an “overweight” rating on the stock in a report on Friday, September 6th. JPMorgan Chase & Co. decreased their price target on shares of Verizon Communications from $46.00 to $45.00 and set a “neutral” rating for the company in a research note on Tuesday, July 23rd. Finally, TD Cowen lifted their price objective on shares of Verizon Communications from $48.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Verizon Communications presently has a consensus rating of “Moderate Buy” and an average target price of $46.03.

Verizon Communications Price Performance

Verizon Communications stock opened at $44.68 on Wednesday. The company has a market cap of $188.08 billion, a P/E ratio of 16.67, a price-to-earnings-growth ratio of 4.03 and a beta of 0.42. Verizon Communications Inc. has a one year low of $30.14 and a one year high of $45.05. The business has a fifty day moving average of $41.59 and a two-hundred day moving average of $40.86. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.60 and a current ratio of 0.63.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Monday, July 22nd. The cell phone carrier reported $1.15 EPS for the quarter, meeting the consensus estimate of $1.15. Verizon Communications had a net margin of 8.38% and a return on equity of 20.10%. The firm had revenue of $32.80 billion during the quarter, compared to analysts’ expectations of $33.05 billion. During the same quarter last year, the business earned $1.21 earnings per share. The business’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, analysts predict that Verizon Communications Inc. will post 4.58 earnings per share for the current fiscal year.

Verizon Communications Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be issued a $0.678 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.07%. This is a boost from Verizon Communications’s previous quarterly dividend of $0.67. Verizon Communications’s dividend payout ratio is currently 99.25%.

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).