Rational Advisors LLC increased its position in Verizon Communications Inc. (NYSE:VZ) by 102.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,534 shares of the cell phone carrier’s stock after acquiring an additional 8,355 shares during the period. Rational Advisors LLC’s holdings in Verizon Communications were worth $832,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Catalyst Capital Advisors LLC acquired a new position in shares of Verizon Communications during the second quarter valued at approximately $103,000. Financial Gravity Wealth Inc. acquired a new position in shares of Verizon Communications during the first quarter valued at approximately $128,000. Rainier Group Investment Advisory LLC acquired a new position in shares of Verizon Communications during the first quarter valued at approximately $134,000. Elmwood Wealth Management Inc. acquired a new position in shares of Verizon Communications during the first quarter valued at approximately $146,000. Finally, Emerald Investment Partners LLC acquired a new position in shares of Verizon Communications during the second quarter valued at approximately $174,000. Institutional investors own 64.09% of the company’s stock.
Several equities analysts have recently issued reports on the company. ValuEngine upgraded Verizon Communications from a “hold” rating to a “buy” rating in a research report on Wednesday. Scotiabank set a $62.00 price target on Verizon Communications and gave the company a “buy” rating in a research report on Wednesday. Barclays lifted their price target on Verizon Communications from $50.00 to $53.00 and gave the company a “hold” rating in a research report on Wednesday. JPMorgan Chase & Co. lifted their target price on Verizon Communications from $59.00 to $62.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Bank of America reaffirmed a “buy” rating and set a $58.00 target price on shares of Verizon Communications in a report on Monday. Seven investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Verizon Communications has an average rating of “Buy” and a consensus target price of $55.82.
Verizon Communications (NYSE:VZ) last issued its earnings results on Tuesday, October 23rd. The cell phone carrier reported $1.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.19 by $0.03. The business had revenue of $32.61 billion for the quarter, compared to analysts’ expectations of $32.45 billion. Verizon Communications had a return on equity of 38.62% and a net margin of 23.88%. The company’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.98 EPS. As a group, research analysts expect that Verizon Communications Inc. will post 4.66 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 1st. Investors of record on Wednesday, October 10th will be paid a $0.6025 dividend. The ex-dividend date is Tuesday, October 9th. This represents a $2.41 dividend on an annualized basis and a yield of 4.27%. This is a boost from Verizon Communications’s previous quarterly dividend of $0.59. Verizon Communications’s dividend payout ratio (DPR) is currently 64.44%.
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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