Private Capital Group LLC lifted its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 389.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,404 shares of the cell phone carrier’s stock after buying an additional 20,217 shares during the period. Private Capital Group LLC’s holdings in Verizon Communications were worth $1,215,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Earnest Partners LLC acquired a new stake in Verizon Communications in the fourth quarter worth approximately $103,000. Stelac Advisory Services LLC acquired a new stake in Verizon Communications in the fourth quarter worth approximately $111,000. Wagner Wealth Management LLC acquired a new stake in Verizon Communications in the fourth quarter worth approximately $129,000. Avestar Capital LLC bought a new position in shares of Verizon Communications in the fourth quarter valued at $131,000. Finally, Almanack Investment Partners LLC. bought a new position in shares of Verizon Communications in the fourth quarter valued at $136,000. Institutional investors and hedge funds own 64.12% of the company’s stock.
Shares of NYSE:VZ opened at $54.79 on Friday. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.92 and a current ratio of 0.96. Verizon Communications Inc. has a 12-month low of $43.97 and a 12-month high of $55.21. The firm has a market cap of $216.59 billion, a price-to-earnings ratio of 14.65, a PEG ratio of 1.82 and a beta of 0.70.
Verizon Communications (NYSE:VZ) last announced its earnings results on Tuesday, July 24th. The cell phone carrier reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.06. Verizon Communications had a net margin of 23.88% and a return on equity of 38.62%. The company had revenue of $32.20 billion for the quarter, compared to the consensus estimate of $31.78 billion. During the same period in the previous year, the business earned $0.96 EPS. The company’s revenue was up 5.4% on a year-over-year basis. sell-side analysts forecast that Verizon Communications Inc. will post 4.65 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 1st. Shareholders of record on Tuesday, July 10th were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 4.31%. The ex-dividend date of this dividend was Monday, July 9th. Verizon Communications’s dividend payout ratio (DPR) is currently 63.10%.
Several research analysts have issued reports on VZ shares. SunTrust Banks raised Verizon Communications from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a report on Wednesday, April 25th. They noted that the move was a valuation call. UBS Group raised Verizon Communications from a “neutral” rating to a “buy” rating in a report on Wednesday, April 25th. Scotiabank set a $61.00 price target on Verizon Communications and gave the company a “buy” rating in a report on Wednesday, July 25th. Goldman Sachs Group raised Verizon Communications from a “neutral” rating to a “buy” rating and upped their price target for the company from $51.00 to $56.00 in a report on Thursday, June 21st. Finally, Deutsche Bank raised Verizon Communications from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a report on Tuesday, June 19th. Five investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $55.42.
Verizon Communications Company Profile
Verizon Communications Inc, through its subsidiaries, offers communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company's Wireless segment provides wireless voice and data services; Internet access on various notebook computers and tablets; multimedia, business-focused, and location-based services, as well as international travel services; and network access services to deliver various Internet of Things products and services.
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