Invested Advisors Buys New Stake in Verizon Communications Inc. $VZ

Invested Advisors bought a new stake in Verizon Communications Inc. (NYSE:VZFree Report) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 13,280 shares of the cell phone carrier’s stock, valued at approximately $584,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of VZ. Brighton Jones LLC grew its holdings in shares of Verizon Communications by 61.2% during the 4th quarter. Brighton Jones LLC now owns 43,986 shares of the cell phone carrier’s stock worth $1,759,000 after purchasing an additional 16,704 shares during the period. SCS Capital Management LLC acquired a new position in Verizon Communications during the first quarter valued at approximately $444,000. SageView Advisory Group LLC grew its stake in Verizon Communications by 1.0% during the first quarter. SageView Advisory Group LLC now owns 36,315 shares of the cell phone carrier’s stock worth $1,647,000 after buying an additional 361 shares during the period. Integrity Alliance LLC. acquired a new stake in shares of Verizon Communications in the first quarter worth $2,103,000. Finally, Focus Partners Wealth raised its stake in shares of Verizon Communications by 4.7% in the 1st quarter. Focus Partners Wealth now owns 795,931 shares of the cell phone carrier’s stock valued at $36,103,000 after acquiring an additional 36,062 shares during the period. Institutional investors and hedge funds own 62.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on VZ shares. Weiss Ratings downgraded Verizon Communications from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 24th. Morgan Stanley decreased their target price on Verizon Communications from $48.00 to $47.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 10th. BNP Paribas Exane downgraded Verizon Communications from an “outperform” rating to a “neutral” rating and set a $44.00 target price on the stock. in a report on Tuesday, October 21st. TD Cowen decreased their price target on Verizon Communications from $56.00 to $51.00 and set a “buy” rating for the company in a report on Thursday, October 30th. Finally, BNP Paribas downgraded shares of Verizon Communications from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 21st. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, Verizon Communications presently has an average rating of “Moderate Buy” and an average price target of $47.47.

View Our Latest Stock Analysis on Verizon Communications

Verizon Communications News Roundup

Here are the key news stories impacting Verizon Communications this week:

Verizon Communications Price Performance

Shares of NYSE VZ opened at $40.56 on Friday. The company has a quick ratio of 0.69, a current ratio of 0.74 and a debt-to-equity ratio of 1.19. Verizon Communications Inc. has a fifty-two week low of $10.60 and a fifty-two week high of $47.35. The business has a 50 day moving average price of $40.53 and a two-hundred day moving average price of $41.90. The firm has a market cap of $171.00 billion, a PE ratio of 8.67, a price-to-earnings-growth ratio of 3.48 and a beta of 0.34.

Verizon Communications (NYSE:VZGet Free Report) last announced its earnings results on Wednesday, October 29th. The cell phone carrier reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.02. The company had revenue of $33.82 billion for the quarter, compared to analyst estimates of $34.19 billion. Verizon Communications had a return on equity of 19.31% and a net margin of 14.43%.Verizon Communications’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.19 EPS. Sell-side analysts expect that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 12th will be paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 6.8%. The ex-dividend date is Monday, January 12th. Verizon Communications’s dividend payout ratio (DPR) is 58.97%.

Verizon Communications Company Profile

(Free Report)

Verizon Communications Inc (NYSE: VZ) is a major U.S.-based telecommunications company that provides a broad range of communications and information services. Its operations span consumer and business markets, with core offerings that include wireless voice and data services, fixed-line broadband and fiber-optic services, and enterprise networking solutions. Verizon is headquartered in New York City and operates a nationwide wireless network that supports consumer subscribers as well as business and government customers.

The company’s consumer products include mobile phone plans, unlimited data services, and Fios, its branded fiber-optic internet, television and voice service for homes and small businesses.

Further Reading

Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

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