2 weeks Ago By Defense World Staff
Legal & General Group Plc raised its position in shares of Verizon Communications Inc. ( NYSE:VZ – Free Report ) by 3.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission.
The firm owned 38,357,031 shares of the cell phone carrier’s stock after buying an additional 1,106,887 shares during the period. Legal & General Group Plc owned about 0.91% of Verizon Communications worth $1,581,848,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in VZ. Capital World Investors increased its stake in shares of Verizon Communications by 127.6% during 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 buying an additional 12,220,777 shares during the period. Capital Research Global Investors increased its position in Verizon Communications by 92.9% during the 4th quarter.
Capital Research Global Investors now owns 22,599,173 shares of the cell phone carrier’s stock valued at $851,989,000 after purchasing an additional 10,882,873 shares during the period. Swedbank AB bought a new position in Verizon Communications in the 1st quarter worth $250,312,000. Third Point LLC purchased a new stake in shares of Verizon Communications in the 4th quarter worth about $173,325,000.
Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in shares of Verizon Communications by 419.8% during the 4th 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 in the last quarter.
Hedge funds and other institutional investors own 62.06% of the company’s stock. Analyst Upgrades and Downgrades VZ has been the subject of a number of research reports.
Citigroup increased their price target on shares of Verizon Communications from $47.00 to $49.00 and gave the stock a “buy” rating in a research note on Wednesday.
TD Cowen increased their target price on Verizon Communications from $48.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd.
The Goldman Sachs Group began coverage on Verizon Communications in a research note on Monday, July 1st. They issued a “buy” rating and a $50.00 target price for the company.
Bank of America upped their price target on Verizon Communications from $41.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday.
Finally, JPMorgan Chase & Co. lowered their price objective on Verizon Communications from $46.00 to $45.
00 and set a “neutral” rating for the company in a research report on Tuesday, July 23rd. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $46.
09. Verizon Communications Stock Up 0.1 % VZ stock opened at $44.
61 on Friday. The stock has a market capitalization of $187.77 billion, a P/E ratio of 16.
65, a P/E/G ratio of 4.03 and a beta of 0.42.
The company has a debt-to-equity ratio of 1.29, a current ratio of 0.63 and a quick ratio of 0.
60. Verizon Communications Inc. has a 1-year low of $30.
14 and a 1-year high of $45.05. The business has a fifty day moving average price of $41.
70 and a 200-day moving average price of $40.91. Verizon Communications ( NYSE:VZ – Get Free Report ) last issued its earnings results on Monday, July 22nd.
The cell phone carrier reported $1.15 earnings per share for the quarter, hitting 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 during the quarter, compared to analyst estimates of $33.05 billion.
During the same quarter in the previous year, the firm earned $1.21 EPS. Verizon Communications’s revenue was up .
6% on a year-over-year basis. Equities analysts forecast that Verizon Communications Inc. will post 4.
58 earnings per share for the current fiscal year. Verizon Communications Increases Dividend The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be given a $0.
678 dividend. This represents a $2.71 dividend on an annualized basis and a yield of 6.
08%. The ex-dividend date is Thursday, October 10th. This is an increase from Verizon Communications’s previous quarterly dividend of $0.
67. Verizon Communications’s payout ratio is 101.12%.
Verizon Communications Company Profile ( Free Report ) 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). Featured Stories Five stocks we like better than Verizon Communications What is the Dow Jones Industrial Average (DJIA)? REITs on the Rise After Rate Cuts: Where to Invest Now The How And Why of Investing in Oil Stocks Is Viking Therapeutics Ready For Another Surge? Why is the Ex-Dividend Date Significant to Investors? AI Boom and Rate Cuts Boost Utility Stocks: Best Growth Picks Want to see what other hedge funds are holding VZ? Visit HoldingsChannel.
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