12 hours Ago By Defense World Staff
Richardson Financial Services Inc. trimmed its position in shares of Verizon Communications Inc. ( NYSE:VZ – Free Report ) by 15.
8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,863 shares of the cell phone carrier’s stock after selling 1,097 shares during the quarter. Richardson Financial Services Inc.
’s holdings in Verizon Communications were worth $242,000 at the end of the most recent reporting period. Other institutional investors and hedge funds also recently made changes to their positions in the company. Leo Wealth LLC acquired a new position in Verizon Communications in the fourth quarter valued at about $3,346,000.
Gateway Investment Advisers LLC raised its holdings in Verizon Communications by 15.4% during the 2nd quarter. Gateway Investment Advisers LLC now owns 283,160 shares of the cell phone carrier’s stock worth $11,678,000 after buying an additional 37,732 shares during the period.
Mosley Wealth Management bought a new position in Verizon Communications in the fourth quarter valued at approximately $433,000. Harbor Investment Advisory LLC boosted its holdings in shares of Verizon Communications by 4.4% in the first quarter.
Harbor Investment Advisory LLC now owns 22,894 shares of the cell phone carrier’s stock valued at $961,000 after buying an additional 969 shares during the period. Finally, Tower Research Capital LLC TRC increased its position in shares of Verizon Communications by 196.3% during the fourth quarter.
Tower Research Capital LLC TRC now owns 647,218 shares of the cell phone carrier’s stock worth $24,400,000 after acquiring an additional 428,776 shares in the last quarter. Institutional investors and hedge funds own 62.06% of the company’s stock.
Analyst Upgrades and Downgrades A number of equities analysts recently weighed in on VZ shares. TD Cowen upped their target price on shares of Verizon Communications from $48.00 to $51.
00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. KeyCorp decreased their price objective on Verizon Communications from $46.00 to $44.
00 and set an “overweight” rating for the company in a report on Friday, September 6th. JPMorgan Chase & Co. cut their target price on Verizon Communications from $46.
00 to $45.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 23rd. Scotiabank raised their price target on shares of Verizon Communications from $45.
50 to $46.50 and gave the stock a “sector perform” rating in a research note on Wednesday, July 10th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $42.
00 price objective on shares of Verizon Communications in a report on Monday, September 9th. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $45.
66. Verizon Communications Stock Down 0.4 % Shares of VZ stock opened at $43.
89 on Thursday. Verizon Communications Inc. has a 52-week low of $30.
14 and a 52-week high of $45.05. The stock has a market cap of $184.
74 billion, a price-to-earnings ratio of 16.38, a PEG ratio of 3.99 and a beta of 0.
42. The firm’s 50-day moving average is $41.35 and its 200-day moving average is $40.
73. 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 – Get Free Report ) last released 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 company had revenue of $32.80 billion during the quarter, compared to analysts’ expectations of $33.05 billion.
Verizon Communications had a return on equity of 20.10% and a net margin of 8.38%.
The business’s revenue was up .6% on a year-over-year basis. During the same period last year, the firm posted $1.
21 earnings per share. Sell-side analysts predict that Verizon Communications Inc. will post 4.
58 EPS for the current year. Verizon Communications Increases Dividend The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be issued a $0.
678 dividend. This is an increase from Verizon Communications’s previous quarterly dividend of $0.67.
This represents a $2.71 annualized dividend and a dividend yield of 6.18%.
The ex-dividend date of this dividend is Thursday, October 10th. Verizon Communications’s payout ratio is currently 101.12%.
Verizon Communications 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). See Also Five stocks we like better than Verizon Communications Best Stocks Under $5.
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