Verizon Communications Inc. (NYSE:VZ) Stake Lifted by Pacer Advisors Inc.

Pacer Advisors Inc. increased its stake in Verizon Communications Inc. (NYSE:VZ) by 577.3% in the 2nd quarter, HoldingsChannel reports. The fund owned 396,478 shares of the cell phone carrier’s stock after acquiring an additional 337,944 shares during the period. Pacer Advisors Inc.’s holdings in Verizon Communications were worth $21,858,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of VZ. LFA Lugano Financial Advisors SA bought a new position in shares of Verizon Communications in the second quarter valued at approximately $27,000. Toth Financial Advisory Corp bought a new position in shares of Verizon Communications in the second quarter valued at approximately $34,000. AlphaCore Capital LLC bought a new position in shares of Verizon Communications in the first quarter valued at approximately $35,000. Lion Street Advisors LLC bought a new position in shares of Verizon Communications in the first quarter valued at approximately $38,000. Finally, HighMark Wealth Management LLC boosted its holdings in shares of Verizon Communications by 52.1% in the second quarter. HighMark Wealth Management LLC now owns 788 shares of the cell phone carrier’s stock valued at $43,000 after acquiring an additional 270 shares in the last quarter. Institutional investors and hedge funds own 65.23% of the company’s stock.

Shares of NYSE:VZ opened at $57.48 on Friday. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.93 and a current ratio of 0.96. The company has a market cap of $237.11 billion, a PE ratio of 12.47, a price-to-earnings-growth ratio of 3.52 and a beta of 0.45. Verizon Communications Inc. has a 52 week low of $48.84 and a 52 week high of $62.22. 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 released its earnings results on Friday, July 24th. The cell phone carrier reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 EPS. The company’s revenue was down 5.2% compared to the same quarter last year. On average, equities analysts predict that Verizon Communications Inc. will post 4.78 earnings per share for the current year.

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

Several research firms have recently issued reports on VZ. Oppenheimer reiterated a “buy” rating and issued a $70.00 price objective on shares of Verizon Communications in a report on Monday, July 27th. Robert W. Baird reduced their target price on shares of Verizon Communications from $60.00 to $58.00 and set a “neutral” rating for the company in a report on Tuesday, April 28th. Citigroup raised their target price on shares of Verizon Communications from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Monday, April 27th. UBS Group raised their target price on shares of Verizon Communications from $59.00 to $60.00 and gave the stock a “neutral” rating in a report on Monday, July 27th. Finally, Barclays restated a “hold” rating and set a $54.00 target price on shares of Verizon Communications in a report on Friday, April 17th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Verizon Communications currently has a consensus rating of “Hold” and a consensus price target of $62.00.

Verizon Communications 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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