Boston Research & Management Inc. Boosts Stake in Verizon Communications Inc. (NYSE:VZ)

Boston Research & Management Inc. boosted its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 1.4% in the 2nd quarter, Holdings Channel reports. The fund owned 100,241 shares of the cell phone carrier’s stock after acquiring an additional 1,345 shares during the quarter. Boston Research & Management Inc.’s holdings in Verizon Communications were worth $4,133,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Capital World Investors increased its holdings in shares of Verizon Communications by 127.6% in the fourth quarter. Capital World Investors now owns 21,801,067 shares of the cell phone carrier’s stock valued at $821,900,000 after purchasing an additional 12,220,777 shares during the last quarter. Capital Research Global Investors increased its stake in shares of Verizon Communications by 92.9% in the 4th quarter. Capital Research Global Investors now owns 22,599,173 shares of the cell phone carrier’s stock worth $851,989,000 after acquiring an additional 10,882,873 shares during the last quarter. Swedbank AB purchased a new position in shares of Verizon Communications during the 1st quarter worth $250,312,000. Third Point LLC acquired a new position in shares of Verizon Communications during the 4th quarter valued at about $173,325,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in shares of Verizon Communications by 419.8% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 5,141,257 shares of the cell phone carrier’s stock valued at $193,825,000 after purchasing an additional 4,152,099 shares during the period. Institutional investors and hedge funds own 62.06% of the company’s stock.

Verizon Communications Stock Up 0.9 %

VZ stock opened at $44.33 on Friday. The firm has a market capitalization of $186.60 billion, a price-to-earnings ratio of 16.54, a PEG ratio of 3.99 and a beta of 0.42. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.60 and a current ratio of 0.63. The company’s 50 day moving average price is $41.46 and its 200 day moving average price is $40.78. Verizon Communications Inc. has a fifty-two week low of $30.14 and a fifty-two week high of $45.05.

Verizon Communications (NYSE:VZ) last released its quarterly earnings data 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 return on equity of 20.10% and a net margin of 8.38%. The business had revenue of $32.80 billion for the quarter, compared to the consensus estimate of $33.05 billion. During the same quarter in the prior year, the business posted $1.21 EPS. The business’s revenue for the quarter was up .6% on a year-over-year basis. On average, equities research analysts anticipate that Verizon Communications Inc. will post 4.58 EPS 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 issued a $0.678 dividend. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.12%. This is a boost from Verizon Communications’s previous quarterly dividend of $0.67. The ex-dividend date is Thursday, October 10th. Verizon Communications’s dividend payout ratio is presently 101.12%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on VZ shares. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $42.00 target price on shares of Verizon Communications in a research note on Monday, September 9th. JPMorgan Chase & Co. reduced their price target on shares of Verizon Communications from $46.00 to $45.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 23rd. KeyCorp lowered their price objective on Verizon Communications from $46.00 to $44.00 and set an “overweight” rating for the company in a research report on Friday, September 6th. TD Cowen lifted their target price on Verizon Communications from $48.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Finally, Scotiabank increased their price target on Verizon Communications from $45.50 to $46.50 and gave the stock 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 given a buy rating to the company. According to MarketBeat.com, Verizon Communications currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.66.

Verizon Communications Company 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).