Atlas Capital Advisors LLC raised its stake in Verizon Communications Inc. (NYSE:VZ) by 32.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,759 shares of the cell phone carrier’s stock after acquiring an additional 2,863 shares during the period. Atlas Capital Advisors LLC’s holdings in Verizon Communications were worth $638,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in VZ. British Airways Pensions Investment Management Ltd increased its holdings in shares of Verizon Communications by 0.8% in the 2nd quarter. British Airways Pensions Investment Management Ltd now owns 472,006 shares of the cell phone carrier’s stock worth $23,747,000 after buying an additional 3,859 shares during the last quarter. Zions Bancorporation bought a new stake in shares of Verizon Communications in the 2nd quarter worth about $4,221,000. Intrepid Capital Management Inc. bought a new stake in shares of Verizon Communications in the 2nd quarter worth about $556,000. Markel Corp bought a new stake in shares of Verizon Communications in the 2nd quarter worth about $2,616,000. Finally, Wetherby Asset Management Inc. increased its holdings in shares of Verizon Communications by 9.7% in the 3rd quarter. Wetherby Asset Management Inc. now owns 65,281 shares of the cell phone carrier’s stock worth $3,486,000 after buying an additional 5,749 shares during the last quarter. Institutional investors own 66.14% of the company’s stock.
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NYSE VZ opened at $54.03 on Friday. The company has a debt-to-equity ratio of 1.94, a current ratio of 0.91 and a quick ratio of 0.88. The company has a market cap of $224.64 billion, a P/E ratio of 11.47, a PEG ratio of 2.85 and a beta of 0.48. Verizon Communications Inc. has a 52 week low of $46.08 and a 52 week high of $61.58.
Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Tuesday, January 29th. The cell phone carrier reported $1.12 EPS for the quarter, topping the consensus estimate of $1.09 by $0.03. The firm had revenue of $34.28 billion during the quarter, compared to analyst estimates of $34.45 billion. Verizon Communications had a net margin of 11.87% and a return on equity of 35.96%. Verizon Communications’s revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.86 EPS. Research analysts forecast that Verizon Communications Inc. will post 4.66 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 1st. Investors of record on Thursday, January 10th were paid a dividend of $0.6025 per share. The ex-dividend date was Wednesday, January 9th. This represents a $2.41 annualized dividend and a dividend yield of 4.46%. Verizon Communications’s dividend payout ratio (DPR) is presently 51.17%.
A number of analysts have recently weighed in on VZ shares. ValuEngine upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating in a report on Thursday, November 15th. JPMorgan Chase & Co. boosted their target price on shares of Verizon Communications from $59.00 to $62.00 and gave the stock an “overweight” rating in a report on Wednesday, October 24th. Tigress Financial restated a “hold” rating on shares of Verizon Communications in a report on Friday, December 28th. Morgan Stanley boosted their target price on shares of Verizon Communications from $56.00 to $58.00 and gave the stock an “overweight” rating in a report on Monday, October 29th. Finally, Barclays boosted their target price on shares of Verizon Communications from $50.00 to $53.00 and gave the stock a “hold” rating in a report on Wednesday, October 24th. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $55.90.
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About Verizon Communications
Verizon Communications Inc, through its subsidiaries, offers communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company's Wireless segment provides wireless voice and data services; Internet access on various notebook computers and tablets; multimedia, business-focused, and location-based services, as well as international travel services; and network access services to deliver various Internet of Things products and services.
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