Verizon Communications Inc. (VZ) Position Raised by Valley National Advisers Inc.

Valley National Advisers Inc. increased its position in shares of Verizon Communications Inc. (NYSE:VZ) by 16.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,353 shares of the cell phone carrier’s stock after purchasing an additional 4,571 shares during the quarter. Valley National Advisers Inc.’s holdings in Verizon Communications were worth $1,727,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Virginia Retirement Systems ET AL increased its stake in shares of Verizon Communications by 33.2% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 2,018,700 shares of the cell phone carrier’s stock worth $101,561,000 after purchasing an additional 502,700 shares in the last quarter. KBC Group NV boosted its position in Verizon Communications by 4.6% during the second quarter. KBC Group NV now owns 413,043 shares of the cell phone carrier’s stock worth $20,780,000 after acquiring an additional 18,341 shares during the last quarter. SeaCrest Wealth Management LLC boosted its position in Verizon Communications by 9.5% during the second quarter. SeaCrest Wealth Management LLC now owns 121,387 shares of the cell phone carrier’s stock worth $6,107,000 after acquiring an additional 10,503 shares during the last quarter. Parkside Financial Bank & Trust boosted its position in Verizon Communications by 19.9% during the second quarter. Parkside Financial Bank & Trust now owns 9,453 shares of the cell phone carrier’s stock worth $475,000 after acquiring an additional 1,569 shares during the last quarter. Finally, Trust Investment Advisors boosted its position in Verizon Communications by 11.8% during the second quarter. Trust Investment Advisors now owns 30,797 shares of the cell phone carrier’s stock worth $1,549,000 after acquiring an additional 3,250 shares during the last quarter. Institutional investors and hedge funds own 66.14% of the company’s stock.

Shares of NYSE VZ traded up $0.33 during midday trading on Monday, reaching $54.28. The company’s stock had a trading volume of 1,647,769 shares, compared to its average volume of 16,283,902. The company has a debt-to-equity ratio of 1.94, a current ratio of 0.91 and a quick ratio of 0.88. Verizon Communications Inc. has a one year low of $46.08 and a one year high of $61.58. The company has a market capitalization of $222.70 billion, a P/E ratio of 11.52, a PEG ratio of 2.85 and a beta of 0.48.



Verizon Communications (NYSE:VZ) last released its earnings results on Tuesday, January 29th. The cell phone carrier reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.03. Verizon Communications had a net margin of 11.87% and a return on equity of 35.96%. The business had revenue of $34.28 billion for the quarter, compared to the consensus estimate of $34.45 billion. During the same period in the previous year, the firm earned $0.86 EPS. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, analysts anticipate that Verizon Communications Inc. will post 4.66 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, February 1st. Investors of record on Thursday, January 10th were issued a $0.6025 dividend. The ex-dividend date was Wednesday, January 9th. This represents a $2.41 dividend on an annualized basis and a dividend yield of 4.44%. Verizon Communications’s payout ratio is currently 51.17%.

A number of analysts recently issued reports on VZ shares. ValuEngine upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating in a research report on Thursday, November 15th. JPMorgan Chase & Co. lifted their price target on shares of Verizon Communications from $59.00 to $62.00 and gave the company an “overweight” rating in a report on Wednesday, October 24th. Tigress Financial reiterated a “hold” rating on shares of Verizon Communications in a report on Friday, December 28th. Morgan Stanley lifted their price target on shares of Verizon Communications from $56.00 to $58.00 and gave the company an “overweight” rating in a report on Monday, October 29th. Finally, Barclays lifted their price target on shares of Verizon Communications from $50.00 to $53.00 and gave the company a “hold” rating in a report on Wednesday, October 24th. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $55.90.

ILLEGAL ACTIVITY NOTICE: This piece of content was first reported by Dakota Financial News and is owned by of Dakota Financial News. If you are reading this piece of content on another website, it was illegally copied and republished in violation of US and international copyright & trademark laws. The correct version of this piece of content can be viewed at https://dakotafinancialnews.com/2019/02/11/verizon-communications-inc-vz-position-raised-by-valley-national-advisers-inc.html.

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.

Featured Article: Market Capitalization in the Stock Market

Want to see what other hedge funds are holding VZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Verizon Communications Inc. (NYSE:VZ).

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

Receive News & Ratings for Verizon Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verizon Communications and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply