Verizon Communications Inc. (NYSE:VZ) Stock Holdings Increased by Manchester Capital Management LLC

Manchester Capital Management LLC lifted its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 39.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,787 shares of the cell phone carrier’s stock after purchasing an additional 3,631 shares during the quarter. Manchester Capital Management LLC’s holdings in Verizon Communications were worth $537,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Pacifica Partners Inc. raised its holdings in Verizon Communications by 4.6% in the 4th quarter. Pacifica Partners Inc. now owns 5,800 shares of the cell phone carrier’s stock valued at $223,000 after acquiring an additional 255 shares during the period. Private Portfolio Partners LLC lifted its holdings in Verizon Communications by 0.9% during the 4th quarter. Private Portfolio Partners LLC now owns 27,457 shares of the cell phone carrier’s stock worth $1,035,000 after purchasing an additional 255 shares during the last quarter. Selective Wealth Management Inc. boosted its stake in Verizon Communications by 2.8% in the 4th quarter. Selective Wealth Management Inc. now owns 9,511 shares of the cell phone carrier’s stock valued at $374,000 after purchasing an additional 257 shares during the period. BKM Wealth Management LLC grew its holdings in Verizon Communications by 7.4% in the 1st quarter. BKM Wealth Management LLC now owns 3,715 shares of the cell phone carrier’s stock valued at $156,000 after buying an additional 257 shares in the last quarter. Finally, Horizon Bancorp Inc. IN increased its position in Verizon Communications by 24.9% during the 4th quarter. Horizon Bancorp Inc. IN now owns 1,293 shares of the cell phone carrier’s stock worth $49,000 after buying an additional 258 shares during the period. 62.06% of the stock is currently owned by institutional investors.

Verizon Communications Price Performance

Shares of NYSE VZ traded up $0.14 during midday trading on Friday, reaching $41.44. 2,795,293 shares of the company were exchanged, compared to its average volume of 18,608,615. The stock’s 50-day moving average price is $40.42 and its 200-day moving average price is $40.26. The stock has a market cap of $174.43 billion, a P/E ratio of 15.45, a PEG ratio of 3.74 and a beta of 0.41. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 1.42. Verizon Communications Inc. has a one year low of $30.14 and a one year high of $43.42.

Verizon Communications (NYSE:VZ) last issued its earnings results on Monday, April 22nd. The cell phone carrier reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.03. Verizon Communications had a return on equity of 20.41% and a net margin of 8.44%. The business had revenue of $33 billion during the quarter, compared to analysts’ expectations of $33.23 billion. During the same quarter in the prior year, the firm earned $1.20 EPS. The business’s revenue for the quarter was up .3% compared to the same quarter last year. On average, sell-side analysts anticipate that Verizon Communications Inc. will post 4.58 earnings per share for the current fiscal year.

Verizon Communications Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be given a dividend of $0.665 per share. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $2.66 annualized dividend and a yield of 6.42%. Verizon Communications’s dividend payout ratio is presently 99.25%.

Analyst Upgrades and Downgrades

VZ has been the subject of a number of recent research reports. Scotiabank boosted their target price on shares of Verizon Communications from $45.50 to $46.50 and gave the company a “sector perform” rating in a research report on Wednesday. Wells Fargo & Company cut their price objective on shares of Verizon Communications from $44.00 to $40.00 and set an “equal weight” rating for the company in a report on Tuesday, April 23rd. Oppenheimer reaffirmed an “outperform” rating and set a $48.00 target price on shares of Verizon Communications in a report on Tuesday, April 23rd. Redburn Atlantic raised Verizon Communications from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $33.00 to $39.00 in a report on Friday, March 22nd. Finally, StockNews.com raised Verizon Communications from a “hold” rating to a “buy” rating in a report on Saturday, May 4th. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Verizon Communications currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.23.

Verizon Communications Company 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).