Boston Trust Walden Corp Buys 18,661 Shares of Verizon Communications Inc. (NYSE:VZ)

Boston Trust Walden Corp raised its stake in Verizon Communications Inc. (NYSE:VZ) by 1.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,208,601 shares of the cell phone carrier’s stock after buying an additional 18,661 shares during the period. Verizon Communications comprises about 0.9% of Boston Trust Walden Corp’s portfolio, making the stock its 23rd biggest position. Boston Trust Walden Corp’s holdings in Verizon Communications were worth $71,899,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Public Employees Retirement Association of Colorado lifted its stake in shares of Verizon Communications by 6.0% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 782,399 shares of the cell phone carrier’s stock valued at $42,038,000 after purchasing an additional 44,297 shares during the period. Driehaus Capital Management LLC lifted its stake in shares of Verizon Communications by 15.9% in the 1st quarter. Driehaus Capital Management LLC now owns 6,378 shares of the cell phone carrier’s stock valued at $343,000 after purchasing an additional 877 shares during the period. Chilton Capital Management LLC lifted its stake in shares of Verizon Communications by 4.1% in the 1st quarter. Chilton Capital Management LLC now owns 11,348 shares of the cell phone carrier’s stock valued at $610,000 after purchasing an additional 445 shares during the period. Guardian Capital Advisors LP lifted its stake in shares of Verizon Communications by 7.1% in the 1st quarter. Guardian Capital Advisors LP now owns 8,032 shares of the cell phone carrier’s stock valued at $299,000 after purchasing an additional 532 shares during the period. Finally, CWA Asset Management Group LLC lifted its stake in shares of Verizon Communications by 17.4% in the 1st quarter. CWA Asset Management Group LLC now owns 203,051 shares of the cell phone carrier’s stock valued at $10,910,000 after purchasing an additional 30,158 shares during the period. Hedge funds and other institutional investors own 64.85% of the company’s stock.

A number of brokerages have recently issued reports on VZ. UBS Group boosted their price objective on Verizon Communications from $59.00 to $60.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. Raymond James upped their price target on Verizon Communications from $61.00 to $64.00 and gave the stock an “outperform” rating in a research note on Monday, July 27th. Moffett Nathanson reaffirmed a “hold” rating and set a $62.00 price target on shares of Verizon Communications in a research note on Friday, July 24th. Argus raised Verizon Communications from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a research note on Tuesday, September 8th. Finally, Oppenheimer started coverage on Verizon Communications in a research note on Tuesday, September 15th. They set a “buy” rating and a $70.00 price target on the stock. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Verizon Communications currently has a consensus rating of “Hold” and a consensus price target of $62.24.

Shares of Verizon Communications stock opened at $58.05 on Friday. The company has a market cap of $240.21 billion, a PE ratio of 12.59, a price-to-earnings-growth ratio of 3.67 and a beta of 0.46. Verizon Communications Inc. has a 52 week low of $48.84 and a 52 week high of $62.22. The business has a 50 day moving average price of $59.66 and a 200-day moving average price of $57.28. The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 1.66.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Friday, July 24th. The cell phone carrier reported $1.18 EPS for the quarter, topping the consensus estimate of $1.15 by $0.03. The firm had revenue of $30.40 billion during the quarter, compared to the consensus estimate of $29.98 billion. Verizon Communications had a return on equity of 32.15% and a net margin of 14.76%. The company’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.23 earnings per share. As a group, research analysts anticipate that Verizon Communications Inc. will post 4.78 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Friday, October 9th will be issued a $0.6275 dividend. The ex-dividend date of this dividend is Thursday, October 8th. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.62. This represents a $2.51 annualized dividend and a dividend yield of 4.32%. Verizon Communications’s dividend payout ratio is currently 52.18%.

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; international travel wireless services; and network access services to deliver various Internet of Things products and services, as well as offers digital advertising and digital media services platforms.

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

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