Verizon Communications Inc. $VZ Shares Acquired by Financial Avengers Inc.

Financial Avengers Inc. increased its position in shares of Verizon Communications Inc. (NYSE:VZ) by 3.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 93,136 shares of the cell phone carrier’s stock after purchasing an additional 3,306 shares during the period. Verizon Communications comprises approximately 1.9% of Financial Avengers Inc.’s holdings, making the stock its 14th largest position. Financial Avengers Inc.’s holdings in Verizon Communications were worth $4,030,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Bulwark Capital Corp acquired a new stake in shares of Verizon Communications in the 2nd quarter valued at approximately $25,000. Advantage Trust Co lifted its holdings in Verizon Communications by 549.5% in the second quarter. Advantage Trust Co now owns 591 shares of the cell phone carrier’s stock valued at $26,000 after acquiring an additional 500 shares during the period. 1 North Wealth Services LLC purchased a new stake in shares of Verizon Communications during the 1st quarter worth $29,000. Accent Capital Management LLC acquired a new position in shares of Verizon Communications during the 1st quarter worth $30,000. Finally, RMG Wealth Management LLC purchased a new position in shares of Verizon Communications in the 2nd quarter valued at about $30,000. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Verizon Communications Stock Up 0.8%

Shares of NYSE VZ opened at $40.90 on Thursday. The firm has a market cap of $172.43 billion, a P/E ratio of 8.74, a price-to-earnings-growth ratio of 3.03 and a beta of 0.35. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.60 and a current ratio of 0.74. Verizon Communications Inc. has a 1 year low of $37.58 and a 1 year high of $47.35. The firm’s 50 day moving average price is $41.07 and its 200 day moving average price is $42.46.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Wednesday, October 29th. The cell phone carrier reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.02. Verizon Communications had a return on equity of 19.31% and a net margin of 14.43%.The company had revenue of $33.82 billion for the quarter, compared to analyst estimates of $34.19 billion. During the same quarter in the prior year, the company posted $1.19 EPS. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Friday, October 10th were paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 6.7%. The ex-dividend date of this dividend was Friday, October 10th. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.68. Verizon Communications’s dividend payout ratio is 58.97%.

Analyst Ratings Changes

VZ has been the topic of a number of research analyst reports. Royal Bank Of Canada decreased their price objective on shares of Verizon Communications from $46.00 to $44.00 and set a “sector perform” rating on the stock in a report on Thursday, October 30th. The Goldman Sachs Group assumed coverage on Verizon Communications in a report on Tuesday, September 2nd. They issued a “buy” rating and a $49.00 target price on the stock. BNP Paribas lowered shares of Verizon Communications from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 21st. Scotiabank lifted their target price on shares of Verizon Communications from $50.50 to $51.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 30th. Finally, Wall Street Zen cut shares of Verizon Communications from a “buy” rating to a “hold” rating in a research note on Friday, September 26th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and thirteen have given a Hold rating to the stock. According to data from MarketBeat, Verizon Communications presently has a consensus rating of “Hold” and a consensus target price of $47.41.

Verizon Communications Profile

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).