Ethic Inc. Increases Holdings in Verizon Communications Inc. (NYSE:VZ)

Ethic Inc. grew its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 13.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 556,102 shares of the cell phone carrier’s stock after buying an additional 66,601 shares during the period. Verizon Communications accounts for about 0.5% of Ethic Inc.’s holdings, making the stock its 26th largest holding. Ethic Inc.’s holdings in Verizon Communications were worth $25,236,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Bernard Wealth Management Corp. increased its position in shares of Verizon Communications by 81.0% during the first quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier’s stock worth $25,000 after purchasing an additional 243 shares in the last quarter. Cherry Tree Wealth Management LLC increased its position in shares of Verizon Communications by 71.8% during the first quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier’s stock worth $26,000 after purchasing an additional 244 shares in the last quarter. Garde Capital Inc. acquired a new stake in shares of Verizon Communications during the first quarter worth about $26,000. Accent Capital Management LLC acquired a new stake in shares of Verizon Communications during the first quarter worth about $30,000. Finally, Mattson Financial Services LLC increased its position in shares of Verizon Communications by 114.6% during the fourth quarter. Mattson Financial Services LLC now owns 777 shares of the cell phone carrier’s stock worth $31,000 after purchasing an additional 415 shares in the last quarter. 62.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Arete Research upgraded Verizon Communications to a “strong-buy” rating in a research report on Tuesday, July 8th. Royal Bank Of Canada lifted their target price on Verizon Communications from $45.00 to $46.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 22nd. Wells Fargo & Company lifted their target price on Verizon Communications from $42.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 10th. Wall Street Zen upgraded Verizon Communications from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. Finally, Bank of America boosted their price target on Verizon Communications from $45.00 to $49.00 and gave the company a “neutral” rating in a research report on Tuesday, July 22nd. Eleven analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $47.35.

Verizon Communications Price Performance

Shares of VZ opened at $43.52 on Friday. Verizon Communications Inc. has a twelve month low of $37.58 and a twelve month high of $47.35. The stock’s 50 day moving average is $42.67 and its two-hundred day moving average is $42.91. The firm has a market capitalization of $183.47 billion, a PE ratio of 10.14, a P/E/G ratio of 3.37 and a beta of 0.36. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 1.19.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.03. Verizon Communications had a return on equity of 19.61% and a net margin of 13.28%. The company had revenue of $34.50 billion for the quarter, compared to analyst estimates of $33.47 billion. During the same quarter in the previous year, the company earned $1.15 EPS. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. Research analysts anticipate that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were paid a dividend of $0.6775 per share. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $2.71 annualized dividend and a dividend yield of 6.2%. Verizon Communications’s payout ratio is 63.17%.

About Verizon Communications

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).