Rothschild Investment Corp IL boosted its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 6.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 168,908 shares of the cell phone carrier’s stock after buying an additional 9,736 shares during the quarter. Verizon Communications makes up approximately 0.8% of Rothschild Investment Corp IL’s investment portfolio, making the stock its 27th biggest holding. Rothschild Investment Corp IL’s holdings in Verizon Communications were worth $9,822,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the stock. DnB Asset Management AS increased its holdings in Verizon Communications by 12.1% during the first quarter. DnB Asset Management AS now owns 679,949 shares of the cell phone carrier’s stock valued at $39,539,000 after buying an additional 73,256 shares during the period. Mcdonald Partners LLC increased its holdings in Verizon Communications by 16.2% during the first quarter. Mcdonald Partners LLC now owns 30,754 shares of the cell phone carrier’s stock valued at $1,788,000 after buying an additional 4,298 shares during the period. Traverso Chambers Private Wealth Management LLC increased its holdings in Verizon Communications by 6.9% during the first quarter. Traverso Chambers Private Wealth Management LLC now owns 14,834 shares of the cell phone carrier’s stock valued at $863,000 after buying an additional 956 shares during the period. G&S Capital LLC increased its holdings in Verizon Communications by 35.1% during the first quarter. G&S Capital LLC now owns 83,321 shares of the cell phone carrier’s stock valued at $4,845,000 after buying an additional 21,654 shares during the period. Finally, Bennicas & Associates Inc. increased its holdings in Verizon Communications by 65.1% during the first quarter. Bennicas & Associates Inc. now owns 33,789 shares of the cell phone carrier’s stock valued at $1,965,000 after buying an additional 13,320 shares during the period. 64.85% of the stock is currently owned by institutional investors.
Several equities analysts have issued reports on VZ shares. Tigress Financial raised shares of Verizon Communications from a “neutral” rating to a “buy” rating in a report on Tuesday, March 30th. Oppenheimer reaffirmed a “market perform” rating on shares of Verizon Communications in a report on Wednesday, March 3rd. Bank of America reaffirmed a “buy” rating and issued a $64.00 price target on shares of Verizon Communications in a report on Thursday, March 11th. Credit Suisse Group cut their price target on shares of Verizon Communications from $61.00 to $59.00 and set a “neutral” rating on the stock in a report on Tuesday, January 19th. Finally, Scotiabank lowered shares of Verizon Communications from an “outperform” rating to a “sector perform” rating in a report on Thursday, February 25th. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Verizon Communications currently has an average rating of “Hold” and an average target price of $62.69.
NYSE VZ opened at $58.28 on Friday. The company has a market capitalization of $241.28 billion, a PE ratio of 12.64, a P/E/G ratio of 3.54 and a beta of 0.44. The company has a fifty day moving average of $56.89 and a 200 day moving average of $57.96. Verizon Communications Inc. has a 1 year low of $52.85 and a 1 year high of $61.95. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.96 and a quick ratio of 0.93.
Verizon Communications (NYSE:VZ) last posted its earnings results on Monday, January 25th. The cell phone carrier reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.04. The company had revenue of $34.70 billion during the quarter, compared to the consensus estimate of $34.47 billion. Verizon Communications had a net margin of 14.76% and a return on equity of 32.15%. The firm’s quarterly revenue was down .2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.13 earnings per share. Research analysts expect that Verizon Communications Inc. will post 4.77 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 3rd. Shareholders of record on Friday, April 9th will be given a $0.6275 dividend. The ex-dividend date of this dividend is Thursday, April 8th. This represents a $2.51 dividend on an annualized basis and a dividend yield of 4.31%. Verizon Communications’s dividend payout ratio (DPR) is currently 52.18%.
Verizon Communications Company Profile
Verizon Communications Inc offers communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. Its Consumer segment provides postpaid and prepaid service plans; internet access on notebook computers and tablets; wireless equipment, including smartphones and other handsets; and wireless-enabled internet devices, such as tablets, and other wireless-enabled connected devices, such as smart watches.
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