Verizon Communications Inc. (NYSE:VZ) Shares Purchased by Perigon Wealth Management LLC

Perigon Wealth Management LLC boosted its stake in Verizon Communications Inc. (NYSE:VZ) by 1.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 90,344 shares of the cell phone carrier’s stock after purchasing an additional 1,646 shares during the period. Verizon Communications makes up about 0.8% of Perigon Wealth Management LLC’s investment portfolio, making the stock its 26th biggest holding. Perigon Wealth Management LLC’s holdings in Verizon Communications were worth $4,981,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in VZ. Advisor Group Holdings Inc. acquired a new stake in shares of Verizon Communications during the first quarter valued at about $109,968,000. Capital International Investors lifted its position in shares of Verizon Communications by 17.4% during the first quarter. Capital International Investors now owns 35,217,774 shares of the cell phone carrier’s stock worth $1,892,254,000 after purchasing an additional 5,213,722 shares during the last quarter. Rockefeller Capital Management L.P. lifted its holdings in Verizon Communications by 1,504.5% in the first quarter. Rockefeller Capital Management L.P. now owns 4,444,462 shares of the cell phone carrier’s stock worth $238,801,000 after acquiring an additional 4,167,470 shares during the last quarter. APG Asset Management N.V. lifted its holdings in Verizon Communications by 34.5% in the first quarter. APG Asset Management N.V. now owns 15,146,312 shares of the cell phone carrier’s stock worth $797,614,000 after acquiring an additional 3,886,881 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its holdings in Verizon Communications by 249.4% in the first quarter. Two Sigma Advisers LP now owns 5,175,563 shares of the cell phone carrier’s stock worth $278,083,000 after acquiring an additional 3,694,500 shares during the last quarter. Hedge funds and other institutional investors own 65.23% of the company’s stock.

VZ opened at $57.48 on Friday. Verizon Communications Inc. has a fifty-two week low of $48.84 and a fifty-two week high of $62.22. The company has a debt-to-equity ratio of 1.94, a current ratio of 0.96 and a quick ratio of 0.93. The company has a market cap of $237.11 billion, a price-to-earnings ratio of 12.47, a price-to-earnings-growth ratio of 3.52 and a beta of 0.45. The firm has a 50 day simple moving average of $55.64 and a 200 day simple moving average of $56.51.

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

The business also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Friday, July 10th will be paid a dividend of $0.615 per share. This represents a $2.46 dividend on an annualized basis and a dividend yield of 4.28%. The ex-dividend date is Thursday, July 9th. Verizon Communications’s dividend payout ratio is presently 51.14%.

Several research analysts have issued reports on the stock. UBS Group lifted their price target on shares of Verizon Communications from $59.00 to $60.00 and gave the stock a “neutral” rating in a research report on Monday, July 27th. ValuEngine lowered shares of Verizon Communications from a “hold” rating to a “sell” rating in a research note on Friday, May 1st. Credit Suisse Group reissued a “hold” rating and set a $61.00 target price on shares of Verizon Communications in a research note on Thursday, July 2nd. Scotiabank lifted their price objective on shares of Verizon Communications from $63.00 to $64.00 and gave the company a “sector outperform” rating in a research note on Monday, July 27th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Verizon Communications from $63.00 to $62.00 and set a “neutral” rating for the company in a research note on Friday, April 17th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $62.00.

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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