United Capital Financial Advisers LLC raised its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 1.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,187,289 shares of the cell phone carrier’s stock after acquiring an additional 21,418 shares during the quarter. United Capital Financial Advisers LLC’s holdings in Verizon Communications were worth $66,524,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. Anfield Capital Management LLC acquired a new position in shares of Verizon Communications during the 2nd quarter worth about $32,000. Vigilant Capital Management LLC boosted its position in shares of Verizon Communications by 313.3% during the 2nd quarter. Vigilant Capital Management LLC now owns 620 shares of the cell phone carrier’s stock worth $35,000 after acquiring an additional 470 shares in the last quarter. Baldrige Asset Management LLC acquired a new position in shares of Verizon Communications during the 2nd quarter worth about $37,000. tru Independence LLC acquired a new stake in shares of Verizon Communications in the 2nd quarter valued at about $60,000. Finally, JTC Employer Solutions Trusteee Ltd acquired a new stake in shares of Verizon Communications in the 2nd quarter valued at about $73,000. 63.65% of the stock is owned by institutional investors and hedge funds.
Shares of VZ stock traded up $0.60 during trading hours on Thursday, reaching $51.95. 875,408 shares of the company’s stock were exchanged, compared to its average volume of 17,593,277. The company has a market cap of $215.08 billion, a P/E ratio of 10.63, a price-to-earnings-growth ratio of 2.89 and a beta of 0.47. The company’s 50 day moving average is $54.62 and its two-hundred day moving average is $56.21. Verizon Communications Inc. has a 1 year low of $50.86 and a 1 year high of $61.95. The company has a debt-to-equity ratio of 1.93, a current ratio of 0.89 and a quick ratio of 0.85.
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 1st. Stockholders of record on Friday, October 8th will be paid a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a dividend yield of 4.93%. This is an increase from Verizon Communications’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend is Thursday, October 7th. Verizon Communications’s dividend payout ratio is 52.24%.
A number of brokerages recently issued reports on VZ. JPMorgan Chase & Co. upped their target price on Verizon Communications from $64.00 to $65.00 and gave the company an “overweight” rating in a research report on Thursday, July 22nd. Royal Bank of Canada began coverage on Verizon Communications in a research report on Thursday, July 22nd. They issued a “hold” rating and a $57.00 target price for the company. Redburn Partners began coverage on Verizon Communications in a research report on Friday, June 25th. They issued a “sell” rating and a $50.00 target price for the company. Barclays decreased their target price on Verizon Communications from $56.00 to $55.00 and set an “equal weight” rating for the company in a research report on Monday. Finally, Cowen increased their price objective on Verizon Communications from $66.00 to $68.00 and gave the stock an “outperform” rating in a research report on Thursday, July 22nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Verizon Communications presently has a consensus rating of “Hold” and an average price target of $60.57.
In related news, EVP Craig L. Silliman sold 1,554 shares of the firm’s stock in a transaction that occurred on Monday, October 4th. The stock was sold at an average price of $54.45, for a total value of $84,615.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kumara Guru Gowrappan sold 14,077 shares of the firm’s stock in a transaction that occurred on Wednesday, August 11th. The shares were sold at an average price of $55.56, for a total value of $782,118.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,739 shares of company stock valued at $1,039,150. Company insiders own 0.10% of the company’s stock.
Verizon Communications Company Profile
Verizon Communications, Inc is a holding company, which engages in the provision of communications, information, and entertainment products and services to consumers, businesses, and governmental agencies. It operates through the Verizon Consumer Group (Consumer) and Verizon Business Group (Business) segments.
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