Verizon Communications Inc. (NYSE:VZ) Position Increased by Truvestments Capital LLC

Truvestments Capital LLC lifted its position in Verizon Communications Inc. (NYSE:VZ) by 14.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 72,342 shares of the cell phone carrier’s stock after acquiring an additional 9,025 shares during the period. Truvestments Capital LLC’s holdings in Verizon Communications were worth $3,249,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Koesten Hirschmann & Crabtree INC. purchased a new position in Verizon Communications during the 1st quarter valued at about $25,000. Capital Performance Advisors LLP acquired a new stake in shares of Verizon Communications during the third quarter worth approximately $31,000. Accordant Advisory Group Inc increased its stake in Verizon Communications by 137.6% in the 3rd quarter. Accordant Advisory Group Inc now owns 777 shares of the cell phone carrier’s stock valued at $35,000 after buying an additional 450 shares during the period. Mizuho Securities Co. Ltd. acquired a new position in Verizon Communications in the 2nd quarter valued at approximately $32,000. Finally, MFA Wealth Advisors LLC purchased a new stake in Verizon Communications in the 2nd quarter worth approximately $33,000. Institutional investors and hedge funds own 62.06% of the company’s stock.

Wall Street Analyst Weigh In

VZ has been the topic of several research analyst reports. Royal Bank of Canada boosted their price target on shares of Verizon Communications from $42.00 to $46.00 and gave the company a “sector perform” rating in a report on Monday, September 23rd. Citigroup upped their target price on Verizon Communications from $47.00 to $49.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. StockNews.com upgraded Verizon Communications from a “buy” rating to a “strong-buy” rating in a report on Friday. UBS Group boosted their price target on Verizon Communications from $43.00 to $44.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Finally, Tigress Financial raised their price objective on shares of Verizon Communications from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Nine investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $46.37.

Verizon Communications Stock Up 0.3 %

Verizon Communications stock opened at $43.29 on Monday. The firm has a market cap of $182.23 billion, a price-to-earnings ratio of 18.60, a P/E/G ratio of 3.13 and a beta of 0.43. The firm has a fifty day moving average price of $42.90 and a two-hundred day moving average price of $41.56. Verizon Communications Inc. has a fifty-two week low of $36.46 and a fifty-two week high of $45.36. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.66 and a quick ratio of 0.62.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Tuesday, October 22nd. The cell phone carrier reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.01. The business had revenue of $33.30 billion during the quarter, compared to analysts’ expectations of $33.42 billion. Verizon Communications had a return on equity of 20.05% and a net margin of 7.30%. The firm’s revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.22 EPS. As a group, analysts forecast that Verizon Communications Inc. will post 4.61 earnings per share for the current year.

Verizon Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were paid a $0.678 dividend. This is an increase from Verizon Communications’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $2.71 annualized dividend and a dividend yield of 6.26%. Verizon Communications’s dividend payout ratio (DPR) is presently 116.81%.

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).