Verizon Communications Inc. (NYSE:VZ) Shares Purchased by Mitchell Capital Management Co.

Mitchell Capital Management Co. increased its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 1.6% during the second quarter, Holdings Channel.com reports. The fund owned 24,524 shares of the cell phone carrier’s stock after buying an additional 386 shares during the period. Mitchell Capital Management Co.’s holdings in Verizon Communications were worth $1,352,000 at the end of the most recent reporting period.

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

VZ has been the topic of a number of research reports. 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 research note on Monday, July 27th. Raymond James raised their target price on shares of Verizon Communications from $61.00 to $64.00 and gave the stock an “outperform” rating in a research note on Monday, July 27th. Moffett Nathanson reissued a “hold” rating and issued a $62.00 target price on shares of Verizon Communications in a research note on Friday, July 24th. Morgan Stanley decreased their target price on shares of Verizon Communications from $61.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Friday, April 17th. Finally, Royal Bank of Canada reissued a “hold” rating and issued a $57.00 target price on shares of Verizon Communications in a research note on Sunday, July 26th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $62.00.

NYSE VZ opened at $57.48 on Friday. The stock has a market cap of $237.85 billion, a PE ratio of 11.93, a P/E/G ratio of 3.53 and a beta of 0.45. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 1.94. Verizon Communications Inc. has a twelve month low of $48.84 and a twelve month high of $62.22. The stock has a fifty day simple moving average of $55.64 and a 200-day simple moving average of $56.51.

Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Friday, July 24th. The cell phone carrier reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.03. Verizon Communications had a return on equity of 32.15% and a net margin of 14.76%. The business had revenue of $30.40 billion during the quarter, compared to analysts’ expectations of $29.98 billion. During the same period in the prior year, the business posted $1.23 EPS. The company’s revenue was down 5.2% compared to the same quarter last year. Research analysts predict that Verizon Communications Inc. will post 4.79 EPS for the current year.

The company 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 dividend on an annualized basis and a yield of 4.28%. The ex-dividend date of this dividend is Thursday, July 9th. Verizon Communications’s dividend payout ratio (DPR) is 51.14%.

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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