Sciencast Management LP acquired a new position in Verizon Communications Inc. (NYSE:VZ) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 8,200 shares of the cell phone carrier’s stock, valued at approximately $455,000.
A number of other large investors have also made changes to their positions in VZ. Smart Money Group LLC purchased a new position in Verizon Communications in the second quarter valued at approximately $266,000. Hochman Cole Investment Advisors Inc. lifted its holdings in Verizon Communications by 6.3% during the second quarter. Hochman Cole Investment Advisors Inc. now owns 17,596 shares of the cell phone carrier’s stock valued at $970,000 after purchasing an additional 1,041 shares during the last quarter. Pacer Advisors Inc. boosted its position in Verizon Communications by 577.3% during the second quarter. Pacer Advisors Inc. now owns 396,478 shares of the cell phone carrier’s stock worth $21,858,000 after purchasing an additional 337,944 shares during the period. SlateStone Wealth LLC increased its stake in shares of Verizon Communications by 19.9% in the second quarter. SlateStone Wealth LLC now owns 14,707 shares of the cell phone carrier’s stock worth $811,000 after purchasing an additional 2,438 shares in the last quarter. Finally, John G Ullman & Associates Inc. raised its position in shares of Verizon Communications by 1.0% in the second quarter. John G Ullman & Associates Inc. now owns 63,681 shares of the cell phone carrier’s stock valued at $3,511,000 after purchasing an additional 600 shares during the period. Hedge funds and other institutional investors own 65.23% of the company’s stock.
VZ opened at $57.48 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 1.94. The stock has a market capitalization of $237.85 billion, a P/E ratio of 11.93, a PEG ratio of 3.53 and a beta of 0.45. The stock has a 50-day moving average price of $55.64 and a 200-day moving average price of $56.51. Verizon Communications Inc. has a 12-month low of $48.84 and a 12-month high of $62.22.
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Friday, July 10th will be issued a dividend of $0.615 per share. This represents a $2.46 annualized dividend and a dividend yield of 4.28%. The ex-dividend date is Thursday, July 9th. Verizon Communications’s dividend payout ratio is currently 51.14%.
A number of research analysts recently weighed in on the stock. Credit Suisse Group reiterated a “hold” rating and issued a $61.00 price objective on shares of Verizon Communications in a research note on Thursday, July 2nd. Scotiabank raised their price target on Verizon Communications from $63.00 to $64.00 and gave the stock a “sector outperform” rating in a report on Monday, July 27th. ValuEngine lowered Verizon Communications from a “hold” rating to a “sell” rating in a research note on Friday, May 1st. Citigroup raised their target price on Verizon Communications from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Monday, April 27th. Finally, SunTrust Banks upped their price target on Verizon Communications from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. One analyst has rated the stock with a sell rating, sixteen have assigned 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 an average price target 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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