Motco Boosts Stake in Verizon Communications Inc. (VZ)

Motco increased its holdings in Verizon Communications Inc. (NYSE:VZ) by 1.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 88,783 shares of the cell phone carrier’s stock after buying an additional 1,186 shares during the period. Motco’s holdings in Verizon Communications were worth $4,467,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Greenwood Gearhart Inc. boosted its stake in Verizon Communications by 44.1% during the 2nd quarter. Greenwood Gearhart Inc. now owns 20,800 shares of the cell phone carrier’s stock valued at $1,046,000 after purchasing an additional 6,368 shares during the period. Securian Asset Management Inc boosted its stake in Verizon Communications by 2.3% during the 2nd quarter. Securian Asset Management Inc now owns 452,813 shares of the cell phone carrier’s stock valued at $22,781,000 after purchasing an additional 10,091 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in Verizon Communications during the 2nd quarter valued at about $449,000. Swiss National Bank boosted its stake in Verizon Communications by 2.8% during the 2nd quarter. Swiss National Bank now owns 15,703,916 shares of the cell phone carrier’s stock valued at $790,064,000 after purchasing an additional 422,100 shares during the period. Finally, Tredje AP fonden boosted its stake in Verizon Communications by 42.2% during the 2nd quarter. Tredje AP fonden now owns 659,538 shares of the cell phone carrier’s stock valued at $33,181,000 after purchasing an additional 195,633 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have issued reports on the stock. ValuEngine lowered shares of Verizon Communications from a “buy” rating to a “hold” rating in a research note on Thursday. Morgan Stanley boosted their target price on shares of Verizon Communications from $56.00 to $58.00 and gave the company an “overweight” rating in a research note on Monday, October 29th. Scotiabank set a $62.00 target price on shares of Verizon Communications and gave the company a “buy” rating in a research note on Wednesday, October 24th. JPMorgan Chase & Co. boosted their target price on shares of Verizon Communications from $59.00 to $62.00 and gave the company an “overweight” rating in a research note on Wednesday, October 24th. Finally, Barclays boosted their price target on shares of Verizon Communications from $50.00 to $53.00 and gave the stock a “hold” rating in a research report on Wednesday, October 24th. Eight investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Verizon Communications currently has an average rating of “Buy” and a consensus price target of $55.93.

NYSE VZ opened at $56.63 on Monday. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.93 and a current ratio of 0.97. Verizon Communications Inc. has a 12 month low of $43.97 and a 12 month high of $58.80. The company has a market capitalization of $233.77 billion, a P/E ratio of 15.14, a price-to-earnings-growth ratio of 2.46 and a beta of 0.46.

Verizon Communications (NYSE:VZ) last released its earnings results on Tuesday, October 23rd. The cell phone carrier reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.03. Verizon Communications had a net margin of 24.71% and a return on equity of 35.50%. The business had revenue of $32.61 billion for the quarter, compared to the consensus estimate of $32.45 billion. During the same period in the previous year, the firm earned $0.98 EPS. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. On average, research analysts expect that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 1st. Investors of record on Wednesday, October 10th were given a dividend of $0.6025 per share. The ex-dividend date was Tuesday, October 9th. This is an increase from Verizon Communications’s previous quarterly dividend of $0.59. This represents a $2.41 dividend on an annualized basis and a yield of 4.26%. Verizon Communications’s payout ratio is presently 64.44%.

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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Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

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