Strategic Monetary Ideas LLC lifted its stake in shares of Verizon Communications Inc. (NYSE:VZ – Free Report) by 866.9% within the second quarter, in accordance with the corporate in its most up-to-date submitting with the SEC. The fund owned 155,311 shares of the mobile phone service’s inventory after shopping for a further 139,249 shares through the quarter. Strategic Monetary Ideas LLC’s holdings in Verizon Communications had been value $6,405,000 as of its most up-to-date SEC submitting.
A number of different hedge funds and different institutional traders have additionally modified their holdings of VZ. Umpqua Financial institution boosted its stake in Verizon Communications by 5.8% within the 2nd quarter. Umpqua Financial institution now owns 53,941 shares of the mobile phone service’s inventory valued at $2,225,000 after buying a further 2,979 shares through the interval. Parcion Non-public Wealth LLC boosted its place in shares of Verizon Communications by 7.2% within the second quarter. Parcion Non-public Wealth LLC now owns 27,801 shares of the mobile phone service’s inventory valued at $1,147,000 after buying a further 1,871 shares through the interval. Stonebrook Non-public Inc. grew its stake in shares of Verizon Communications by 0.9% within the second quarter. Stonebrook Non-public Inc. now owns 42,583 shares of the mobile phone service’s inventory valued at $1,756,000 after buying a further 366 shares within the final quarter. Letko Brosseau & Associates Inc. elevated its place in Verizon Communications by 5.0% through the second quarter. Letko Brosseau & Associates Inc. now owns 1,658,745 shares of the mobile phone service’s inventory value $68,407,000 after buying a further 79,335 shares through the interval. Lastly, Motiv8 Investments LLC raised its stake in Verizon Communications by 6.5% within the 2nd quarter. Motiv8 Investments LLC now owns 19,262 shares of the mobile phone service’s inventory value $794,000 after buying a further 1,175 shares within the final quarter. Institutional traders personal 62.06% of the corporate’s inventory.
Wall Avenue Analyst Weigh In
VZ has been the subject of various analyst reviews. Scotiabank elevated their goal worth on shares of Verizon Communications from $45.50 to $46.50 and gave the inventory a “sector carry out” ranking in a analysis report on Wednesday, July tenth. Royal Financial institution of Canada reissued a “sector carry out” ranking and set a $42.00 worth goal on shares of Verizon Communications in a analysis report on Tuesday, July twenty third. TD Cowen lifted their worth goal on Verizon Communications from $48.00 to $51.00 and gave the corporate a “purchase” ranking in a report on Tuesday, July twenty third. Tigress Monetary elevated their goal worth on Verizon Communications from $50.00 to $52.00 and gave the inventory a “purchase” ranking in a report on Friday, Could seventeenth. Lastly, JPMorgan Chase & Co. dropped their worth goal on Verizon Communications from $46.00 to $45.00 and set a “impartial” ranking for the corporate in a analysis observe on Tuesday, July twenty third. Seven funding analysts have rated the inventory with a maintain ranking and ten have given a purchase ranking to the corporate. In line with knowledge from MarketBeat.com, Verizon Communications has a consensus ranking of “Average Purchase” and a mean worth goal of $45.66.
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Verizon Communications Inventory Down 0.4 %
Shares of NYSE VZ opened at $41.15 on Monday. The corporate has a market cap of $173.21 billion, a price-to-earnings ratio of 15.35, a PEG ratio of three.81 and a beta of 0.42. The corporate has a present ratio of 0.63, a fast ratio of 0.60 and a debt-to-equity ratio of 1.29. Verizon Communications Inc. has a 12 month low of $30.14 and a 12 month excessive of $43.42. The inventory has a 50-day shifting common worth of $40.93 and a two-hundred day shifting common worth of $40.52.
Verizon Communications (NYSE:VZ – Get Free Report) final launched its quarterly earnings knowledge on Monday, July twenty second. The mobile phone service reported $1.15 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.15. The enterprise had income of $32.80 billion through the quarter, in comparison with analysts’ expectations of $33.05 billion. Verizon Communications had a web margin of 8.38% and a return on fairness of 20.10%. The agency’s quarterly income was up .6% in comparison with the identical quarter final 12 months. Throughout the identical interval within the prior 12 months, the corporate earned $1.21 EPS. As a gaggle, analysts forecast that Verizon Communications Inc. will put up 4.57 earnings per share for the present fiscal 12 months.
Verizon Communications Will increase Dividend
The corporate additionally just lately declared a quarterly dividend, which will probably be paid on Friday, November 1st. Stockholders of report on Thursday, October tenth will probably be paid a $0.678 dividend. This represents a $2.71 dividend on an annualized foundation and a dividend yield of 6.59%. This can be a enhance from Verizon Communications’s earlier quarterly dividend of $0.67. The ex-dividend date of this dividend is Thursday, October tenth. Verizon Communications’s dividend payout ratio is presently 101.12%.
Verizon Communications Firm Profile
Verizon Communications Inc, via its subsidiaries, engages within the provision of communications, know-how, info, and leisure services and products to shoppers, companies, and governmental entities worldwide. It operates in two segments, Verizon Shopper Group (Shopper) and Verizon Enterprise Group (Enterprise).
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