Brown Advisory Inc. raised its holdings in Verizon Communications Inc. (NYSE:VZ – Get Rating) by 1.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 1,614,317 shares of the cell phone carrier’s stock after acquiring an additional 27,564 shares during the period. Brown Advisory Inc.’s holdings in Verizon Communications were worth $83,543,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the business. Rinkey Investments acquired a new stake in shares of Verizon Communications during the 4th quarter worth $27,000. Lansing Street Advisors acquired a new stake in shares of Verizon Communications during the 1st quarter worth $35,000. Conrad Siegel Investment Advisors Inc. acquired a new stake in shares of Verizon Communications during the 1st quarter worth $36,000. Gibson Wealth Advisors LLC acquired a new stake in Verizon Communications in the 4th quarter valued at $37,000. Finally, Morton Brown Family Wealth LLC increased its holdings in Verizon Communications by 109.2% in the 1st quarter. Morton Brown Family Wealth LLC now owns 726 shares of the cell phone carrier’s stock valued at $37,000 after purchasing an additional 379 shares in the last quarter. 63.78% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several analysts recently issued reports on the company. William Blair reiterated a “market perform” rating on shares of Verizon Communications in a report on Monday, April 25th. Wells Fargo & Company lowered their price target on Verizon Communications from $58.00 to $52.00 and set an “equal weight” rating for the company in a report on Friday, July 8th. Cowen decreased their price objective on shares of Verizon Communications from $71.00 to $64.00 and set an “outperform” rating for the company in a research report on Monday, July 25th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Verizon Communications from $59.00 to $58.00 in a research report on Tuesday, July 19th. Finally, The Goldman Sachs Group cut shares of Verizon Communications from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $61.00 to $55.00 in a research report on Monday, April 25th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $56.50.
Insider Activity at Verizon Communications
Verizon Communications Price Performance
Shares of NYSE:VZ opened at $44.95 on Friday. The firm’s 50 day moving average is $49.40 and its two-hundred day moving average is $51.01. Verizon Communications Inc. has a 52 week low of $43.76 and a 52 week high of $56.20. The firm has a market capitalization of $188.78 billion, a P/E ratio of 9.01, a PEG ratio of 2.16 and a beta of 0.33. The company has a current ratio of 0.76, a quick ratio of 0.69 and a debt-to-equity ratio of 1.56.
Verizon Communications (NYSE:VZ – Get Rating) last announced its quarterly earnings results on Friday, July 22nd. The cell phone carrier reported $1.31 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.01). Verizon Communications had a net margin of 15.48% and a return on equity of 26.95%. The firm had revenue of $33.79 billion during the quarter, compared to analyst estimates of $33.77 billion. During the same quarter in the previous year, the business posted $1.37 EPS. Verizon Communications’s revenue for the quarter was up .1% compared to the same quarter last year. Analysts anticipate that Verizon Communications Inc. will post 5.2 earnings per share for the current year.
Verizon Communications Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 1st. Investors of record on Friday, July 8th were paid a dividend of $0.64 per share. The ex-dividend date was Thursday, July 7th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 5.70%. Verizon Communications’s dividend payout ratio is presently 51.30%.
Verizon Communications Company Profile
Verizon Communications Inc, through its subsidiaries, offers communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. Its Consumer segment provides postpaid and prepaid service plans; internet access on notebook computers and tablets; wireless equipment, including smartphones and other handsets; and wireless-enabled internet devices, such as tablets, and other wireless-enabled connected devices comprising smart watches.
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