Gillespie Robinson & Grimm Inc. increased its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 9.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 17,134 shares of the cell phone carrier’s stock after buying an additional 1,500 shares during the period. Gillespie Robinson & Grimm Inc.’s holdings in Verizon Communications were worth $848,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Whitnell & Co. boosted its holdings in Verizon Communications by 1.2% in the 2nd quarter. Whitnell & Co. now owns 10,316 shares of the cell phone carrier’s stock valued at $461,000 after purchasing an additional 125 shares during the period. Caxton Associates LP bought a new stake in Verizon Communications in the 2nd quarter valued at about $607,000. DekaBank Deutsche Girozentrale boosted its holdings in Verizon Communications by 4.6% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,673,761 shares of the cell phone carrier’s stock valued at $74,961,000 after purchasing an additional 72,980 shares during the period. Canada Pension Plan Investment Board boosted its holdings in Verizon Communications by 1.3% in the 2nd quarter. Canada Pension Plan Investment Board now owns 10,704,239 shares of the cell phone carrier’s stock valued at $478,051,000 after purchasing an additional 136,700 shares during the period. Finally, Alps Advisors Inc. boosted its holdings in Verizon Communications by 5.2% in the 2nd quarter. Alps Advisors Inc. now owns 1,018,021 shares of the cell phone carrier’s stock valued at $45,465,000 after purchasing an additional 50,602 shares during the period. 63.22% of the stock is owned by institutional investors and hedge funds.
A number of analysts have issued reports on VZ shares. Wells Fargo & Co raised shares of Verizon Communications from a “market perform” rating to an “outperform” rating and set a $50.00 price objective for the company in a report on Monday, November 20th. Instinet boosted their price objective on shares of Verizon Communications from $47.00 to $61.00 and gave the company a “buy” rating in a report on Tuesday, December 12th. SunTrust Banks reissued a “hold” rating and issued a $50.00 price objective on shares of Verizon Communications in a report on Friday, October 20th. Nomura raised shares of Verizon Communications from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $47.00 to $61.00 in a report on Tuesday, December 12th. Finally, Bank of America set a $52.00 price objective on shares of Verizon Communications and gave the company a “buy” rating in a report on Friday, October 20th. Two analysts have rated the stock with a sell rating, eighteen have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Verizon Communications currently has an average rating of “Hold” and a consensus target price of $51.98.
Verizon Communications Inc. (VZ) opened at $52.48 on Friday. The stock has a market cap of $214,090.00, a P/E ratio of 13.46, a P/E/G ratio of 4.81 and a beta of 0.57. Verizon Communications Inc. has a 12-month low of $42.80 and a 12-month high of $53.78. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 4.05.
Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Thursday, October 19th. The cell phone carrier reported $0.98 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.98. The business had revenue of $31.70 billion during the quarter, compared to analysts’ expectations of $31.45 billion. Verizon Communications had a net margin of 12.80% and a return on equity of 58.66%. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.01 EPS. analysts anticipate that Verizon Communications Inc. will post 3.77 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Wednesday, January 10th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 4.50%. The ex-dividend date is Tuesday, January 9th. Verizon Communications’s dividend payout ratio is 60.51%.
Verizon Communications Profile
Verizon Communications Inc is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. Its segments include Wireless and Wireline. The Wireless segment offers communications products and services, including wireless voice and data services and equipment sales, to consumer, business and government customers across the United States.
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