Y Intercept Hong Kong Ltd Has $5.55 Million Stock Position in Verizon Communications Inc. $VZ

Y Intercept Hong Kong Ltd decreased its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 61.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 126,174 shares of the cell phone carrier’s stock after selling 198,629 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Verizon Communications were worth $5,545,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in VZ. Advantage Trust Co grew its stake in shares of Verizon Communications by 549.5% during the second quarter. Advantage Trust Co now owns 591 shares of the cell phone carrier’s stock worth $26,000 after buying an additional 500 shares during the last quarter. TruNorth Capital Management LLC raised its holdings in Verizon Communications by 95.3% in the 3rd quarter. TruNorth Capital Management LLC now owns 625 shares of the cell phone carrier’s stock valued at $27,000 after buying an additional 305 shares during the last quarter. RMG Wealth Management LLC acquired a new stake in Verizon Communications during the 2nd quarter worth approximately $30,000. Global Wealth Strategies & Associates grew its holdings in Verizon Communications by 739.5% during the 3rd quarter. Global Wealth Strategies & Associates now owns 680 shares of the cell phone carrier’s stock worth $30,000 after acquiring an additional 599 shares during the last quarter. Finally, Global Trust Asset Management LLC increased its position in Verizon Communications by 222.2% in the 2nd quarter. Global Trust Asset Management LLC now owns 725 shares of the cell phone carrier’s stock valued at $31,000 after acquiring an additional 500 shares during the period. Institutional investors own 62.06% of the company’s stock.

Verizon Communications Stock Performance

Shares of VZ stock opened at $39.53 on Friday. Verizon Communications Inc. has a 52 week low of $38.39 and a 52 week high of $47.35. The company has a quick ratio of 0.69, a current ratio of 0.74 and a debt-to-equity ratio of 1.19. The company has a market cap of $166.68 billion, a price-to-earnings ratio of 8.45, a price-to-earnings-growth ratio of 3.77 and a beta of 0.34. The firm has a 50 day moving average of $40.37 and a 200-day moving average of $41.62.

Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Wednesday, October 29th. The cell phone carrier reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.02. The company had revenue of $33.82 billion for the quarter, compared to analysts’ expectations of $34.19 billion. Verizon Communications had a net margin of 14.43% and a return on equity of 19.31%. The business’s revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.19 EPS. On average, equities analysts forecast that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 12th will be given a dividend of $0.69 per share. The ex-dividend date of this dividend is Monday, January 12th. This represents a $2.76 annualized dividend and a dividend yield of 7.0%. Verizon Communications’s payout ratio is presently 58.97%.

Analysts Set New Price Targets

VZ has been the topic of a number of recent research reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Verizon Communications in a report on Wednesday. Scotiabank raised their target price on Verizon Communications from $50.50 to $51.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 30th. Royal Bank Of Canada cut their target price on Verizon Communications from $46.00 to $44.00 and set a “sector perform” rating on the stock in a report on Thursday, October 30th. Sanford C. Bernstein reduced their price target on Verizon Communications from $46.00 to $44.00 and set a “market perform” rating on the stock in a research report on Friday, January 16th. Finally, TD Cowen lowered their price objective on Verizon Communications from $56.00 to $51.00 and set a “buy” rating for the company in a research report on Thursday, October 30th. Two investment 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 data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $47.07.

Verizon Communications Profile

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.