Mutual of America Capital Management LLC lifted its position in shares of Verizon Communications Inc. (NYSE:VZ) by 0.8% during the second quarter, HoldingsChannel.com reports. The firm owned 532,435 shares of the cell phone carrier’s stock after purchasing an additional 4,127 shares during the period. Verizon Communications accounts for 0.4% of Mutual of America Capital Management LLC’s holdings, making the stock its 28th biggest position. Mutual of America Capital Management LLC’s holdings in Verizon Communications were worth $26,787,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Markel Corp purchased a new stake in Verizon Communications in the 2nd quarter valued at $2,616,000. Trust Co raised its position in Verizon Communications by 6.5% in the 1st quarter. Trust Co now owns 100,146 shares of the cell phone carrier’s stock valued at $4,789,000 after buying an additional 6,126 shares during the last quarter. Levin Capital Strategies L.P. raised its position in Verizon Communications by 24.8% in the 1st quarter. Levin Capital Strategies L.P. now owns 24,000 shares of the cell phone carrier’s stock valued at $1,148,000 after buying an additional 4,775 shares during the last quarter. Wetherby Asset Management Inc. raised its position in Verizon Communications by 3.8% in the 2nd quarter. Wetherby Asset Management Inc. now owns 59,532 shares of the cell phone carrier’s stock valued at $2,995,000 after buying an additional 2,158 shares during the last quarter. Finally, Buckley Wealth Management LLC raised its position in Verizon Communications by 8.1% in the 1st quarter. Buckley Wealth Management LLC now owns 54,885 shares of the cell phone carrier’s stock valued at $2,625,000 after buying an additional 4,131 shares during the last quarter. 64.34% of the stock is currently owned by institutional investors.
VZ stock opened at $57.21 on Tuesday. The company has a quick ratio of 0.93, a current ratio of 0.97 and a debt-to-equity ratio of 1.90. The firm has a market cap of $233.77 billion, a PE ratio of 15.30, a PEG ratio of 2.46 and a beta of 0.46. Verizon Communications Inc. has a fifty-two week low of $43.97 and a fifty-two week high of $58.80.
Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Tuesday, October 23rd. The cell phone carrier reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.03. The company had revenue of $32.61 billion during the quarter, compared to the consensus estimate of $32.45 billion. Verizon Communications had a return on equity of 35.50% and a net margin of 24.71%. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.98 EPS. On average, equities analysts forecast that Verizon Communications Inc. will post 4.69 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, November 1st. Stockholders of record on Wednesday, October 10th were paid a dividend of $0.6025 per share. This is an increase from Verizon Communications’s previous quarterly dividend of $0.59. The ex-dividend date was Tuesday, October 9th. This represents a $2.41 annualized dividend and a dividend yield of 4.21%. Verizon Communications’s dividend payout ratio is presently 64.44%.
A number of research firms recently commented on VZ. ValuEngine lowered Verizon Communications from a “buy” rating to a “hold” rating in a research report on Thursday, November 1st. Morgan Stanley upped their price objective on 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 price objective on Verizon Communications and gave the company a “buy” rating in a research note on Wednesday, October 24th. JPMorgan Chase & Co. upped their price objective on 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 upped their price objective on Verizon Communications from $50.00 to $53.00 and gave the company a “hold” rating in a research note on Wednesday, October 24th. Eight analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $55.93.
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Verizon Communications Company Profile
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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