Verizon Communications Inc. $VZ Stock Holdings Lifted by Lockheed Martin Investment Management Co.

Lockheed Martin Investment Management Co. boosted its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 70.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 581,400 shares of the cell phone carrier’s stock after acquiring an additional 240,200 shares during the quarter. Verizon Communications accounts for about 0.9% of Lockheed Martin Investment Management Co.’s investment portfolio, making the stock its 29th largest holding. Lockheed Martin Investment Management Co.’s holdings in Verizon Communications were worth $25,157,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Brighton Jones LLC grew its position in Verizon Communications by 61.2% during the fourth quarter. Brighton Jones LLC now owns 43,986 shares of the cell phone carrier’s stock valued at $1,759,000 after purchasing an additional 16,704 shares in the last quarter. Golden State Wealth Management LLC grew its position in Verizon Communications by 4.8% during the first quarter. Golden State Wealth Management LLC now owns 27,726 shares of the cell phone carrier’s stock valued at $1,258,000 after purchasing an additional 1,265 shares in the last quarter. O Brien Wealth Partners LLC purchased a new position in Verizon Communications during the first quarter valued at approximately $52,000. Novem Group grew its position in Verizon Communications by 17.5% during the first quarter. Novem Group now owns 20,240 shares of the cell phone carrier’s stock valued at $918,000 after purchasing an additional 3,013 shares in the last quarter. Finally, Strategic Financial Concepts LLC grew its position in Verizon Communications by 10.6% during the first quarter. Strategic Financial Concepts LLC now owns 13,852 shares of the cell phone carrier’s stock valued at $628,000 after purchasing an additional 1,330 shares in the last quarter. Institutional investors and hedge funds own 62.06% of the company’s stock.

Verizon Communications Trading Down 3.1%

NYSE:VZ opened at $38.96 on Friday. The company has a quick ratio of 0.60, a current ratio of 0.74 and a debt-to-equity ratio of 1.19. The company’s 50 day moving average is $42.40 and its 200-day moving average is $42.87. The firm has a market cap of $164.27 billion, a price-to-earnings ratio of 8.32, a P/E/G ratio of 3.03 and a beta of 0.37. Verizon Communications Inc. has a 12 month low of $37.58 and a 12 month high of $47.35.

Verizon Communications (NYSE:VZ) last posted 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 business had revenue of $33.80 billion for the quarter, compared to analyst estimates of $34.19 billion. Verizon Communications had a net margin of 14.43% and a return on equity of 19.31%. Verizon Communications’s revenue was up 1.5% compared to the same quarter last year. During the same period last year, the business posted $1.19 EPS. Equities analysts anticipate that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be paid a $0.69 dividend. The ex-dividend date is Friday, October 10th. This is a boost from Verizon Communications’s previous quarterly dividend of $0.68. This represents a $2.76 dividend on an annualized basis and a dividend yield of 7.1%. Verizon Communications’s dividend payout ratio is presently 58.97%.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Bank of America boosted their price objective on shares of Verizon Communications from $45.00 to $49.00 and gave the company a “neutral” rating in a research report on Tuesday, July 22nd. Morgan Stanley lifted their target price on shares of Verizon Communications from $47.00 to $48.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 22nd. Weiss Ratings cut shares of Verizon Communications from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 24th. TD Cowen reduced their target price on shares of Verizon Communications from $56.00 to $51.00 and set a “buy” rating for the company in a research note on Thursday. Finally, BNP Paribas cut shares of Verizon Communications from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 21st. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and thirteen have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average 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).