Enterprise Bank & Trust Co boosted its holdings in Verizon Communications Inc. (NYSE:VZ) by 1.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,224 shares of the cell phone carrier’s stock after purchasing an additional 619 shares during the quarter. Enterprise Bank & Trust Co’s holdings in Verizon Communications were worth $2,218,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in VZ. Bell Bank boosted its holdings in shares of Verizon Communications by 46.3% in the fourth quarter. Bell Bank now owns 49,826 shares of the cell phone carrier’s stock valued at $3,059,000 after acquiring an additional 15,760 shares during the period. Community Financial Services Group LLC boosted its holdings in shares of Verizon Communications by 5.3% in the first quarter. Community Financial Services Group LLC now owns 122,402 shares of the cell phone carrier’s stock valued at $6,577,000 after acquiring an additional 6,160 shares during the period. Financial Enhancement Group LLC boosted its holdings in shares of Verizon Communications by 8.0% in the first quarter. Financial Enhancement Group LLC now owns 174,244 shares of the cell phone carrier’s stock valued at $9,362,000 after acquiring an additional 12,850 shares during the period. Verus Financial Partners Inc. boosted its holdings in shares of Verizon Communications by 4.6% in the first quarter. Verus Financial Partners Inc. now owns 6,644 shares of the cell phone carrier’s stock valued at $357,000 after acquiring an additional 293 shares during the period. Finally, Syntal Capital Partners LLC boosted its holdings in shares of Verizon Communications by 31.7% in the first quarter. Syntal Capital Partners LLC now owns 23,610 shares of the cell phone carrier’s stock valued at $1,268,000 after acquiring an additional 5,681 shares during the period. 65.45% of the stock is owned by hedge funds and other institutional investors.
VZ has been the subject of several research analyst reports. Citigroup increased their price objective on Verizon Communications from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Monday, April 27th. Nomura Securities dropped their price objective on shares of Verizon Communications from $65.00 to $61.00 and set a “neutral” rating on the stock in a research note on Monday, March 30th. Credit Suisse Group restated a “hold” rating and issued a $61.00 target price on shares of Verizon Communications in a research note on Thursday, July 2nd. JPMorgan Chase & Co. dropped their price target on shares of Verizon Communications from $63.00 to $62.00 and set a “neutral” rating on the stock in a research note on Friday, April 17th. Finally, Morgan Stanley dropped their price target on shares of Verizon Communications from $61.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Friday, April 17th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $61.63.
VZ traded up $0.55 on Friday, hitting $54.49. 6,933,203 shares of the company were exchanged, compared to its average volume of 16,296,450. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.95 and a current ratio of 0.99. The business’s fifty day moving average is $55.68 and its 200 day moving average is $57.07. Verizon Communications Inc. has a fifty-two week low of $48.84 and a fifty-two week high of $62.22. The firm has a market capitalization of $229.16 billion, a P/E ratio of 12.27, a price-to-earnings-growth ratio of 4.12 and a beta of 0.45.
Verizon Communications (NYSE:VZ) last issued its earnings results on Friday, April 24th. The cell phone carrier reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.04. Verizon Communications had a net margin of 14.00% and a return on equity of 33.26%. The company had revenue of $31.81 billion for the quarter, compared to analyst estimates of $32.37 billion. During the same period in the prior year, the business posted $1.20 earnings per share. The firm’s revenue for the quarter was down 1.0% compared to the same quarter last year. Analysts forecast that Verizon Communications Inc. will post 4.74 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Friday, July 10th will be given a $0.615 dividend. The ex-dividend date of this dividend is Thursday, July 9th. This represents a $2.46 annualized dividend and a dividend yield of 4.51%. Verizon Communications’s dividend payout ratio is presently 51.14%.
About Verizon Communications
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; international travel wireless services; and network access services to deliver various Internet of Things products and services, as well as offers digital advertising and digital media services platforms.
Featured Article: QQQ ETF
Receive News & Ratings for Verizon Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verizon Communications and related companies with MarketBeat.com's FREE daily email newsletter.